When Ohio couples are going through a divorce, they often have to face the potentially complex process of dividing marital property. As one woman recently learned during a legal battle that has spanned several years, divorce may be accompanied by complicated financial issues. Even when a couple assumes that a divorce will be amicable and simple, it is necessary to protect financial interests with a careful examination of both parties’ finances.
This particular divorce was expected to be simple and quickly resolved when the wife originally filed papers in 2009. However, she quickly learned that her husband’s financial records were anything but straightforward. The financial situation between the husband and his business partners was found to be so complex that the judge recently declared the two business partners as additional parties in the legal battle.
The wife simply wants her equitable portion of marital property. This includes a share of the lucrative parking garage in Manhattan that her husband owns with two other men. The divorce battle has been lengthy and expensive for the woman, who also tried to sue the two business partners for fraud.
As seen with this case, it can be difficult to navigate the process of separating joint finances and identifying assets that need to be divided during a divorce. When facing this potentially complex process, an Ohio resident pursuing a divorce who also possesses valuable assets, such as a business, may benefit from reaching out for help from a legal team with experience in complex and high-asset divorces. This will ensure that the long-term financial interests of that individual are represented throughout the entire process.
Source: New York Post, “Business partners get roped into divorce battle“, Julia Marsh, Jan. 26, 2015
