Even if you are facing an uncontested divorce, you could still find yourself grappling with the intricacies of asset division. While some assets are straightforward to divide, like bank accounts, household items and vehicles, other properties can still complicate the process.
If you are a business owner in Ohio, have multiple real estate properties or possess significant retirement accounts, you are likely dealing with complex assets that need specialized attention. The presence of these assets can make property division more challenging and time-consuming. How exactly will you approach this in an uncontested divorce?
Strategies for dividing complex assets
In Ohio, courts follow the principle of equitable distribution when dividing marital assets. This means the law aims to achieve a fair and reasonable division of shared properties between spouses, but this does not necessarily mean a 50/50 split. To ensure you achieve a fair outcome, it is essential to understand this principle and take the following steps:
- Identifying and valuing assets: This may involve hiring experts, such as appraisers or accountants, to determine each asset’s value.
- Negotiation and mediation: These processes allow you and your spouse to work together to reach a mutually beneficial agreement rather than relying on the courts to make a decision.
By taking these steps, you can ensure a fair and reasonable division of your complex assets and achieve a successful outcome in your divorce.
Finding a fair solution
The end of a marriage does not have to mean conflict. However, dividing complex marital properties is no easy task, even in an uncontested divorce. By approaching property division with a willingness to compromise, you can reach an agreement that respects both parties’ needs and interests.
