How are Real Estate and Other Large Assets Handled After a Divorce?
Ohio statutes base property division on equitable distribution. Equitable distribution is a fair, but not necessarily equal division of marital property.
Marital vs. separate property
The starting point when dividing real estate or other large assets is to characterize which is marital or separate property. A Dayton divorce lawyer can help you determine this.
Under Ohio law, marital property includes the following:
- Real and personal property currently owned by either or both spouses and acquired during the marriage (including retirement benefits)
- Interest that either or both spouses currently have in real or personal property acquired during the marriage
- All income and appreciation on separate property resulting from the labor, monetary, or in-kind contribution of either or both spouses during the marriage
- Funds or interest acquired during marriage in participant accounts, which are public employee (federal, state, municipal, or county government) retirement accounts
Separate property includes the following:
- Inheritances received by a spouse during the marriage
- Real or personal property or interest in such property acquired by a spouse prior to marriage
- Passive income, appreciation, or interest on separate property acquired by one spouse during marriage
- Property excluded by a valid ante nuptial agreement
- Personal injury compensation to one spouse, not including lost earnings (which are marital) or expenses covered by marital assets
- Gifts made after marriage that are clearly for only one spouse
- Commingled separate property that does not destroy property identity and is traceable
Division of marital property
Ohio statute 3105.171 also mandates division of marital property between spouses equally, except for when the court deems it just to make distributive awards. A distributive award requires one spouse to pay the other spouse out of separate income or property.
Examples of conditions that can result in distributive awards include the following:
- Spousal failure to honestly disclose marital or separate property or debts (court may triple the value amount and require an award to the other spouse)
- Marriage duration
- Both spouses’ assets and liabilities
- Awarding the family home to the spouse who is the custodial parent
- Property liquidity
- Economic advantages of keeping an asset intact
- Tax consequences
- Sale costs
- Separation agreement terms
Most couples are able to agree on property division and draft a settlement outside of court through the help of a divorce lawyer in Dayton.
Choosing Between Uncontested and Contested Divorce
You have many choices to make after deciding to pursue a divorce. Early in the process, you must make the basic decision of whether an uncontested or a contested divorce is right for you and your family. The Superior Court of California in Orange County provides basic information about divorce and Orange County family law that can help introduce you to the legal issues.
But a free initial consultation with experienced Orange County family law lawyers provides the opportunity you need to review your specific circumstances before making this important decision.
Uncontested divorce
In uncontested divorce, couples reach agreement to the settlement issues before having the divorce approved and finalized in court. In most cases, representation by an Orange County family law attorney can help ensure that spouses receive fair treatment during negotiations. In rare situations—such as short-term marriages without the need to resolve parenting and property issues—it may be possible to handle the process without legal assistance. The California Courts Self Help Center provides the necessary forms and instructions.
Whenever possible, Orange county family law lawyers recommend uncontested divorce because it is typically less stressful and less expensive than contested divorce—and it provides couples with greater control over the issues that determine their futures.
Contested divorce
Couples may need their divorce settled in the courts for a number of reasons that include the following:
- A highly contentious relationship prevents them from reaching agreement on any settlement issues, even with the help of attorneys.
- The settlement issues are extraordinarily complicated, such as might be the case if a complex estate or family business is involved.
- A significant imbalance of power existed within the marriage that would prevent one spouse from successfully negotiating.
In these and other situations, experienced attorneys are likely to recommend pursuing a contested divorce within the family court system. While contested divorce is generally more stressful, obtaining support from a skilled and compassionate Orange County family law lawyer helps ensure that clients get the support and guidance needed to achieve the fresh start they need.
Contact an experienced Orange County divorce attorney
For over two decades, the Orange County family attorneys at the Timothy Peabody Law Firm has been helping clients achieve closure in divorce through negotiation, mediation, and litigation. To schedule a free initial consultation with Mr. Peabody today, contact the Timothy Peabody Law Firm, or call the firm at (949) 200-4610.
Choosing Between California Divorce and Legal Separation
There is more than one way to approach the end of a marriage in California:
- Divorce. Also called dissolution of marriage, divorce marks the final end to a marriage or domestic partnership.
- Separation. Couples that are not ready to end their marriage or domestic partnership can live apart under the protection of a legal agreement that specifies such issues as parenting and property division.
The California Courts Self-Help Center provides information designed to educate individuals who are contemplating the end of a marriage. A free initial consultation with an experienced Orange County family lawyer can be invaluable in clarifying your options.
Legal separation may be the most appropriate first step
Making the decision to divorce is just as complicated as deciding to get married. In addition to negotiating or litigating parenting issues, you have to deal with complex financial decisions involving marital property, and the question of whether spousal support is needed. If a family business is involved, the process can be significantly more intricate.
Legal separation may be the only suitable option for religious reasons. And for those who have even a small degree of doubt about ending their marriage, it can offer advantages over the finality of divorce, such as the following:
- Time apart. Marital conflict occurs for many reasons, but it is not necessarily permanent. Living apart provides spouses with the opportunity to preview what divorce is like. Perhaps more importantly, the separation allows couples to remove themselves from the conflict, while obtaining counseling to see if the marriage can be saved.
- A legal contract. Although couples remain legally married during separation, they are obliged to live under conditions that resemble a final divorce agreement. This contract only extends through the period of separation, but it can expose points of agreement that need modifying, if divorce follows.
- Divorce preparation. In the event that couples decide to pursue permanent dissolution of their marriage after legal separation, they begin the process with a foundation that can make the final settlement agreement easier—and less expensive—to achieve.
As early as your free initial consultation, Orange County family lawyers can often identify circumstances that point to the need for this intermediary step before taking the final steps of divorce.
Contact an experienced family law attorney in Orange County.
For over two decades, the Orange County family attorneys at the Timothy Peabody Law Firm has been guiding clients in making the right decisions when facing marital strife. To schedule a free initial consultation with Mr. Peabody today, contact the Timothy Peabody Law Firm, or call the firm at (949) 200-4610.
Do I Need a Lawyer to File for an Orange County Divorce?
In most cases, ending a marriage is a major and life-altering event. The decisions you make during this emotionally charged period can affect the rest of your life as well as the lives of your children. While it is possible to file for divorce without experienced legal support, there are only limited situations in which it may be advisable to do so.
And, even in these situations, this decision should be made only after you have consulted with a Orange County family attorney.
When a do-it-yourself divorce may be appropriate
The California divorce laws and settlement guidelines are more complex than most people realize. Perhaps the best way to determine whether it makes sense to handle your own divorce is to consider the complexity of your overall situation—in terms of both settlement-related issues and the emotional state of both spouses. If you can answer yes to the following questions—generally only possible after a short-term marriage—you may be able to negotiate a successful do-it-yourself divorce:
- Are we divorcing without emotional baggage, such as might be the case if one spouse had substantially more power than the other during the marriage?
- Are we divorcing before having children?
- Do we have little or no property outside of what we each brought to the marriage?
- Are we both financially capable of self-support?
When in doubt, divorce attorneys in Orange County can help
The bottom line is that most divorce issues are complex, and even if you agree to negotiate the settlement terms in an uncontested divorce, most parties do not have the legal knowledge or the emotional fortitude to ensure that they receive the fair treatment needed to start a new life. Discussing your issues in a free initial consultation with an experienced divorce attorney in Orange County can help you determine whether or not you can file for dissolution of marriage simply by completing the right forms—or if you need more legal protection.
Contact an experienced Orange County divorce attorney
The Timothy Peabody Law Firm is one of the good family law firms in Orange County, which has been providing full support for clients for over two decades in pursuing divorce through negotiation, mediation, and litigation. To schedule a free initial consultation with Mr. Peabody today, contact the Timothy Peabody Law Firm or call the firm at (949) 200-4610.
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