You are preparing to get a divorce, but you’re concerned about how your property is going to be divided. By learning about separate and marital property and how it works when you get divorced, you can better plan for the future.
Marital vs. Separate Property
When you’re getting divorced, your marital property is going to be divided between you and your spouse. Marital property consists of any property/assets you acquired as a couple, such as money in your joint bank account or your home. Separate property could become marital property if you use them to benefit your household or otherwise mix them into your marital property.
Deciding on Division of Assets
In an Ohio divorce, the court will divide marital assets between you and your spouse in an equitable manner. This doesn’t always mean that you both get half and half. Instead, it means that the court will weigh a variety of factors to decide how the assets are distributed. If you or your spouse signed a legal and valid prenup, then that would also affect the equitable division of assets.
Coming to a Fair Agreement
If you and your spouse are on good terms, you may be able to work out an agreement on your own and then ask that the court signs off on it. It’s important, also, to hire a divorce attorney who will represent you and ensure you receive your fair share of property in the divorce.
Get in Touch With Richard P. Arthur
Richard P. Arthur, Attorney at Law, can help you with divorce in Ohio. You can call 937-254-3738 for a consultation. He has more than three decades of experience helping clients in Dayton and Trotwood, as well as Montgomery, Greene, Miami, Clark, and Warren counties.