North Canton Property Division Attorney

In an ideal world, divorcing spouses would agree on how to divide property acquired during their marriage. In reality, it can be difficult to reach a compromise, so a court must make the determination on asset division. Either way, it’s necessary to conduct an in-depth assessment of all assets and debts to ensure each spouse gets an equitable share. Disputes can be expensive and time-consuming.

At Fout Law, our property division team has the attention to detail necessary to represent your interests when the time comes to divvy up assets. Attorney Teresa Fout is a creative problem-solver, with negotiation skills to help you reach an agreement with your spouse. However, she’s also an experienced trial lawyer that will take the battle to court if necessary to protect your rights.

Distribution of Marital Property to Spouses

Under Ohio law, all property acquired during the marriage is subject to division when a couple divorces. Marital property is treated differently from separate property, which is deemed as belonging to one spouse; an inheritance, certain types of gifts, and assets individually owned prior to the marriage fall into the category of separate property.

A court is required to divide marital property “equitably” between spouses in the absence of an agreement, though this concept doesn’t necessarily mean “equally.” Instead, a judge will consider what is fair and just in distributing property to the parties, including:

• The duration of the marriage;
• Whether it makes economic sense to retain marital assets as opposed to selling them and splitting the proceeds of the transaction;
• Whether it serves the interests of the parties to allow the parent with custody of minor children to remain in the family home;
• Tax implications for selling marital property; and,
• Other factors that promote the interests of equity.

Methods of Property Division

Instead of going to court to have a judge make a determination on asset division, parties may employ other methods to divvy up the marital property. These approaches are often preferred because they put divorcing spouses in control over the outcome, rather than relying on legal formulas that may not be desirable for either party.

• Mediation: Spouses may retain a neutral mediation professional to help them come to an agreement on property division. Mediators are specially trained to facilitate meaningful conversations that often result in compromise.
• Collaborative Law: This approach is essentially a method for negotiating a property division settlement between divorcing spouses. Parties sit down with attorneys and valuation experts to gain a better understanding of their rights and the law, so they can make better decisions about dividing assets.

A Skilled Property Division Attorney Will Protect Your Rights

Property division is one of the most contentious issues in an Ohio divorce case, so you need an experienced lawyer to represent your interests. Whether we’re preparing an agreement to divide assets or representing your interests in court, you can be sure we’re looking out for your welfare. If you have questions about your case or would like to set up a consultation, please contact the North Canton, OH office of Fout Law at 330-437-7455. You can also send us a message online for more information.