One important issue that must be decided when a marriage comes to an end is how the spouses’ property will be divided. This can often be a significant area of contention between the two parties. There is room for disagreement and legal maneuvering between the parties in this area in the state of Ohio because, unlike a number of other states, Ohio is not a community property state. Instead, in a divorce proceeding, Ohio uses an equitable distribution standard in which the property of the marriage is to be distributed fairly between the parties. This determination is often made by the court. If you are seeking to end your marriage in the Cincinnati area and you are concerned about how your marital property will be divided, contact Zachary D. Smith, LLC, a reputable family law attorney in Cincinnati, OH, for assistance.
What Constitutes Marital Property in Ohio?
The court has the duty to make the determination of what constitutes martial property in a divorce proceeding in Ohio. Real property, personal property, and /or retirement benefits or interests in any of these types of property that is acquired during the marriage by either spouse is considered to be marital property. Furthermore, income generated by separate property or an increase in value of separate property that is the direct result of labor or contribution of either spouse during the marriage can be considered marital property.
Marital property does not include any inheritance that a spouse receives. In addition, the following is considered to be separate property: property that is acquired by a spouse after a legal separation has taken place; passive income generated by separate property; real or personal property that one spouse owned prior to the marriage; property defined in a prenuptial agreement as being outside of the realm of marital property; gifts that are made to only one spouse; and compensation for pain and suffering related to accidents and injuries that a spouse has suffered during the marriage. It is important to note that the court has the jurisdiction to determine the distribution of both marital and separate property in a divorce proceeding in Ohio.
If you or someone you know is going through a divorce proceeding and are concerned about obtaining a fair distribution of marital property, contact the law office of Zachary D. Smith, LLC, today. The experience, dedication and knowledge of Zachary D. Smith will definitely bring about a successful outcome for you. For further information or to schedule an appointment please visit http://ZDSLaw.com/ or call (513) 275-1164.