Property division is one of the most emotionally complex aspects of divorce. No matter the income level of the couple, it is never easy to divide marital assets and property. In fact, many Ohio couples rely on the assistance of a lawyer to equitably divide property in order to avoid a court battle. Whether a property dispute will be resolved in court or in negotiations, it is important to understand property rights during divorce.
Many couples choose to file for an uncontested divorce, during which couples agree on issues such as custody, financial support and property division. In a contested divorce, couples can avoid litigation, but that does not mean that they agree on every single aspect of the divorce resolution. By working with legal counsel, a couple can resolve disputes through mediation or negotiation. During this process, an attorney can protect interests, seeking an outcome that protects an individual’s financial future.
During divorce, all assets must be disclosed and properly valued. Couples have a fiduciary duty to the other party, which is why it is important to work with a lawyer who can locate hidden assets and correctly asses the value of any marital property. With help, it is possible for most couples to reach a fair and practical settlement regarding marital assets and debts.
Divorce is never a simple process, but it can be made easier when a couple is willing to work together to come to a beneficial agreement on divorce issues. Protecting one’s share of marital assets is an important consideration during negotiations and mediation, but a person does not have to face this process alone. It is possible to gain a better understanding of property division in Ohio by seeking a consultation with a lawyer.