Divorce isn’t just the end of a relationship. It’s the start of major life changes, especially when it comes to finances. One of the most emotional and confusing parts of the process is dividing what you built together. Whether it’s a home, a retirement account, or even debt, the question becomes: What’s fair?
If you’re divorcing in Ohio, understanding how property division works can make this part of the journey feel a little less overwhelming. Ohio follows an equitable distribution model, which differs significantly from the approach used in some other states to divide assets. Knowing the difference can help you protect what matters most.
Ohio Follows Equitable Distribution
Let’s start with the basics. Ohio is an equitable distribution state. This means marital property isn’t necessarily split 50/50. Instead, it’s divided fairly. That could mean an equal split, but not always.
The court looks at several factors to decide what’s fair, including:
- Length of the marriage
- Income and earning capacity of each spouse
- Contributions to the marriage, both financial and non-financial
- Who will have custody of the children
- Retirement benefits and pensions
- Tax implications of dividing specific assets
Each divorce is unique. What’s equitable in one case may not be in another. That’s why understanding how the court views your property is crucial.
What Counts as Marital Property?
Marital property encompasses most assets and debts gained during the marriage in Ohio, including:
- Vehicles
- Bank accounts
- Your home
- Retirement accounts and pensions
- Business interests
- Personal property, such as furniture or electronics
It doesn’t matter whose name is on the title or account. If it was obtained during the marriage, it’s likely considered marital property.
Separate property typically stays with the original owner. This may include:
- Assets owned before the marriage
- Inheritances or gifts received by one spouse
- Personal injury settlements in some cases
- Passive income or appreciation from separate assets
However, if separate property is mixed with marital property, such as when an inheritance is deposited into a joint account, it may become partly considered marital property. These cases can quickly become complicated and typically require legal advice to resolve.
How Is Community Property Different?
States like Texas, Arizona, and California use community property laws, where most assets acquired during the marriage are considered equally owned and are typically split 50/50 in a divorce.
Ohio, on the other hand, follows an equitable distribution model. This approach allows for more flexibility, aiming for a fair rather than an equal division of marital property. While that can be helpful in complex or unique situations, it may also require more negotiation or court involvement when spouses can’t agree on what “fair” really looks like.
Can You and Your Spouse Decide Together?
If you and your spouse reach an agreement on property division, you can draft a property settlement agreement. The court will usually approve it, provided it’s fair, and both parties are fully aware of what they are signing.
Reaching an agreement can save time, money, and stress. However, you will want to ensure that you fully understand your rights before signing anything.
What If You Can’t Agree?
If you and your spouse cannot reach an agreement, the court will decide for you. A judge will examine all the facts and issue a final property division order. In high-conflict or high-asset divorces, this process can be lengthy and complicated.
It’s important to have a knowledgeable and experienced Ohio divorce attorney who can guide you through the process, present your case effectively, and protect your financial future.
Know Your Rights, Protect Your Future
Dividing property in a divorce isn’t just about numbers on paper. It’s about setting yourself up for a stable future. Understanding Ohio’s equitable distribution laws gives you a better chance at securing what’s fair and avoiding costly surprises.
Whether you’re just starting the divorce process or facing tough property disputes, having the right legal counsel matters. At the Law Office of Attorney David Shook, we’re here to help you navigate every step with clarity, confidence, and strategic guidance.
Need help understanding your options? Contact us today to schedule a consultation and take the first step toward protecting your financial future.
