Why Call Baker And Wick If You Are Looking For A Property Division Attorney In Columbus, Ohio?
When a couple opts to separate or divorce, several important financial, legal and personal matters must be resolved. One such issue is the division of property. Baker and Wick, LLC, a divorce law firm based in Columbus, Ohio, invites our followers and potential clients to read this short blog highlighting the reasons separating spouses should consider retaining the services of a lawyer for the purpose of property division.
The Property Division Process
In Ohio, the assets a married couple accumulated during their marriage is allocated equitably between the spouses. Ohio adheres to the equitable distribution principle, which means that assets are split as evenly and fairly as a court deems possible. However, equitably does not necessarily mean an even fifty-fifty split. The court will ultimately determine the most equitable split after considering the particular circumstances of each case. In addition, the court has the ability to make an unequal division of assets in certain situations, such as where one spouse commits financial misconduct.
Marital Property Defined
Marital property in Ohio is loosely defined as any asset the couple garnered during their marriage’s duration. Common assets include financial accounts, homes and other real estate, vehicles, household good and furnishings, life insurance policies and retirement accounts. Marital property not only includes marital assets, but also marital debt and liabilities incurred during the marriage.
The Importance Of Retaining A Lawyer’s Services
Property division can be amongst the most contentious issues a divorcing couple must resolve. Emotional or rash actions could lead to mistakes that might have significant adverse costs for one or both of the parties. The services of an experienced property division lawyer may prove beneficial for several reasons including finding and identifying all assets and liabilities and identification of proving separate property interests. A good attorney will also assist negotiating the division of assets and liabilities achieving a fair division of the same without having to have a lengthy and contentious trial.
Contact Baker and Wick Today
If you reside in the Columbus area and may be facing divorce or separation, please contact Baker and Wick as soon as possible. We will provide strong representation in assisting you in retaining the assets you worked so hard to achieve.