For the typical person, the legal aspects of divorce can be daunting and complex. Fortunately, a well-prepared individual does not have to be intimately familiar with Ohio divorce law in order to make wise decisions during divorce that protect short-term needs and long-term interests. In order to do this, it is important to consider factors that are often overlooked.
In order to equitably distribute marital property, it is vital that all assets and property be properly identified. If one spouse hides assets or skims financial accounts, it can lead to a contentious litigation process. As some situations are complex, such as when marital assets are located outside of Ohio or in another country, it is important to consult with an experienced family law attorney regarding entitlements and rightful property ownership.
In the midst of the emotional complexity of divorce, it is easy to overlook intangible or future assets. Pensions, intellectual property, Social Security benefits and even club memberships may be considered marital property, and an individual may have a rightful claim to a share of these. Finally, it is important to have a clear picture of the post-divorce future by considering the tax implications of any financial decision made during divorce.
Couples with particularly valuable assets or complex property ownership agreements will find that it is wise to seek the help of a legal ally. A lawyer experienced in family law matters of all types can help an individual understand all available options during a divorce. Before filing for divorce or making any major decisions, it is beneficial to seek a complete case evaluation.
Source: Huffington Post, "A Few Questions to Consider in Divorce Property Division Situations", Brad Reid, June 29, 2015