The division of property is an important part of any Ohio divorce process. For the most part, the law is written to take care of the equitable division of property, assets and possessions. When it comes to tangible property, this is an easy process because value can be assessed using the current market value. However, some assets might have sentimental or emotional value for one spouse or another. Here are some tips for handling sentimental value in divorce.
Divorce is never a happy topic, or one that couples look forward to broaching, but for some, it is inevitable. If one spouse realizes before the other that divorce is in his or her future, he or she might begin to hide assets. Hiding assets is illegal and it is done in an effort to avoid sharing everything equally when divorce occurs.
Divorce is not an easy topic to discuss, even for couples that know they are headed for an end to their marriage. If the couple owns a business or has interest in a business, the divorce can become quite complicated. These are very complex assets to divide, so how important are business valuations when it comes to divorce?
Not every couple out there that breaks up does so using divorce. There are plenty of couples that live together, but never got married. Even without marriage, the couple still might have plenty of property they need to divide once they split. For non-married couples looking to divide property in Ohio, here are some answers.
Marital property is defined as all of the property acquired by a couple during the length of the marriage. Because of this, all marital property is subject to division should the couple decide to get divorced. There are some states that operate under community property, which means all the property is jointly owned. Ohio is not one of those states.