When your marriage begins to dissolve and divorce is on the horizon, you may begin to wonder how the assets you and your spouse have accumulated throughout the years will be divided. Whether you have been married for one year or 20, things can get complicated when you begin separating property and assigning ownership. In order to prepare for your mediation or court case, it is a good idea to gain a better understanding of how Ohio courts divide assets.
The Ohio Bar states that every effort will be made to divide property equally. This decision will be affected if there has been any financial misconduct in the past. This can include gambling, purchasing gifts for a lover or us of illegal substances, or an attempt to hide assets from a judge. If you can prove that you were harmed by your spouse performing any of these acts, the court will make an attempt to reimburse you up to 50 percent of the amount proven.
If no misuse has occurred, the court will attempt to divide the assets and funds equally between you and your spouse. Property that was accumulated before the marriage will belong to whomever received it, but anything gathered before or after the date of separation can be considered individual assets.
Almost anything that came into either of your possessions during the marriage will be considered joint property, no matter whose name is on the deed or title. This information is intended to educate and should not be taken as legal advice.