Columbus Property Division Attorneys
Helping couples in Central Ohio with complex asset division during divorce
During a divorce, determining the division of property is often a complex process for spouses at any income level. For couples with complicated or extensive assets such as investment portfolios, multiple homes, businesses, and retirement accounts, the process can be even more complicated. Often, you need the help of an attorney to simply straighten it all out, or you could risk leaving many assets on the table.
The Columbus divorce attorneys at Soroka and Associates have the expertise you need to help divide complex marital estates. We guide you through the property division process, all the while protecting your rights and interests. No matter where you and your spouse fall on the financial spectrum, it’s important to have a trusted law firm on your side to help protect the assets most important to you.
How can we help?
- How is property divided in a Columbus divorce?
- What is the difference between separate and marital property?
- Who gets the house in my Columbus divorce?
- Are debts subject to division in a divorce?
- Can your Columbus attorneys help with high asset division?
- Do you always have to go to court for property division?
- Do you have a property division attorney near me?
How is property divided in a Columbus divorce?
Marital property in Ohio is divided equitably – this does not mean 50/50; it simply means fairly. If a divorcing couple can’t agree on how to split their assets and property, the court does it for them, or their respective attorneys can negotiate a fair and equitable settlement. Whichever way the process goes, the attorneys at Soroka & Associates will advocate for your goals and interests every step of the way.
The courts will consider the following factors when determining property division, under Ohio Code Section 3105.171:
- Duration of the marriage
- Couple’s assets and debts
- Who will have custody of the children (for awarding the family home)
- Liquidity of the assets
- Tax consequences of dividing property
- Retirement benefits, pensions, etc.
- Costs of selling assets
- Other relevant factors
What is the difference between separate and marital property?
Here in Ohio, a couple’s assets and debts are split into separate and marital property before division. Separate property is not subject to division.
A spouse’s separate property includes:
- Property, real estate, and other interests acquired prior to marriage
- An inheritance or gift to one spouse given during the marriage
- Passive income from property acquired prior to the marriage
- Personal or real property excluded via a prenuptial agreement
Marital property includes:
- Personal or real property owned by either or both spouses (includes retirement benefits)
- Any interest either spouse has in personal or real property
- Any income or appreciation on separate property if the other spouse contributed labor, money, other “in-kind”
- Money from a public employee participant account
Our Columbus property division lawyers can work with you to determine separate and marital property, and help protect what belongs to you.
Who gets the house in my Columbus divorce?
For most couples, the family home is your most valuable asset. In the vast majority of cases, the home is also marital property. This means each spouse is entitled to equity in the home. If you and your spouse can’t make a decision on your own, again, the court will make the decision for you. Possible solutions and considerations include:
- Selling the home and splitting the proceeds
- Awarding the home to one spouse (requires a refinance to remove the other from the mortgage)
- Negotiating (for example, one spouse keeps the home and the other keeps the retirement account)
An experienced attorney can explain more about equitable division of property.
Are debts subject to division in a divorce?
It depends if they are marital or separate property. Typically debts are marital property unless one spouse entered the marriage with debt. Otherwise, the court will divide debt in an equitable manner. However, in cases where the debt didn’t benefit one spouse at all, the court has discretion to assign the debt to the spouse who incurred it. In cases like this, it’s beneficial to consult with your Columbus divorce lawyer.
Do you always have to go to court for property division?
No. If you and your spouse are able to settle asset and debt division on your own, you can. This is always the best case scenario in any divorce. You can come up with a plan and add it to your divorce settlement, which your attorney can review. If you and your spouse are unable to come up with something mutually agreeable, the court will step in. Our attorneys can advocate for you.
Can your Columbus attorneys help with high asset division?
Yes. Our legal team specializes in complex asset and property division. Untangling complicated finances and property, whether you have been married for five years or 25, can be a challenge – but one we’re up for. The divorce attorneys at Soroka & Associates handle complex and high asset division, including:
- Real estate investments
- Family businesses
- Stock options, bonuses, compensation packages
- Patents, copyrights, trademarks
- Antiques, art, jewelry
- Professional practices
- Commingled property
- Discovering hidden assets
We understand that every marriage and every divorce is different, and we are prepared to handle any type of issue.
Do you have a property division lawyer near me?
Soroka & Associates is located at 503 South Front Street, Suite 205 in Columbus. Our offices are located near a parking deck, and a few blocks away from Rt. 23 and I-71.
Talk to our Columbus property division attorneys today
The attorneys at Soroka & Associates have the expertise and professionalism necessary to assist clients with complex marital estates. Our legal team will guide you through the process of dividing your marital estate, and strive to protect your rights and interests. To set up a consultation today, call 614-358-6525 or fill out our contact form. We serve clients in Columbus and throughout Central Ohio, including in Licking County, Delaware County, Fairfield County, and beyond.