Equitable Division of Assets in Divorce
When it comes to dividing property and other assets in a divorce, Ohio is a so-called “equitable division” division state.
If you’re preparing for divorce, Cincinnati attorney John Heilbrun can help you understand your rights as well as protect the best interests of you and your children. Please call The Law Office of John Heilbrun at 513-321-3940 to schedule your personal divorce consultation.
In some cases, such a collaborative divorce, separating spouses can reach amicable agreements on the division of property, other assets and any debt. If a resolution cannot be reached on the division of assets and debt, the court will determine an equitable division.
Equitable division, however, does not simply mean an even split of property.
In Ohio, each divorcing spouse is generally entitled to any income he or she earned over the course of the marriage, as well as any property held individually in his or her name. Ohio also distinguishes separate property and marital property; marital property may likewise include real estate and intangible assets such as stocks and bands, as well as personal property acquired during the marriage.
Because the division of property, other assets and debt can be a hotly contested and emotionally charged issue in divorce proceedings, it’s important to work with a knowledgeable, compassionate divorce attorney who can help relieve some of the stress you feel and ensure your rights are protected.
If you’re considering divorce or your spouse has recently filed for divorce, please contact The Law Office of John Heilbrun to arrange your consultation. Mr. Heilbrun welcomes clients from the greater Cincinnati, Hyde Park, Blue Ash and Lebanon, Ohio, areas.