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Columbus Property Division Lawyers
Serving the greater Columbus, Franklin county and Central Ohio areas.
Schedule a consultationProperty Division Lawyers in Columbus, Ohio Navigating Complex Property Division Cases with Ease
Property Division attorney specialists with OVER 63 YEARS of experience.
Property division in a divorce can often be a complex and contentious issue. Couples may have accrued significant assets, both individual and joint, during the course of their marriage. This is where a proficient property division attorney becomes key during a divorce. At Lawrence Law Office, our property division lawyers in Columbus have the legal experience and negotiation skills to ensure a fair division of assets. Our attorneys are well-versed in Ohio’s equitable distribution law and can navigate through the intricacies of marital and separate property identification, valuation of assets, and debt distribution. We can also handle complications arising from high-value assets, business ownership, or retirement accounts.
By retaining the services of one of our skilled property division lawyers, you can safeguard your financial future, ensuring you receive what is rightfully yours. Lawrence Law Office is ready to guide you through the entire process. Contact our law firm today at 614-820-1195 to schedule your free initial consultation.
How is Property Divided in a Divorce in Columbus, Ohio?
In Ohio, the law adheres to an equitable distribution method when dividing property during a divorce. This means that all marital assets and debts are divided in a manner considered fair, taking into account various factors. It’s important to note that the term ‘property’ encompasses not only physical possessions and real estate but also financial assets that may include retirement funds, stocks, and investments.
When determining the division of property, the court considers several key factors to ensure a just outcome. These factors include the duration of the marriage, the assets and liabilities of each spouse, the potential tax consequences, and the earning abilities of each spouse. Additionally, the court may also take into account the contributions made by one spouse to the education, training, or earning capacity of the other spouse.
Navigating the complexities of property division in a divorce can be overwhelming. That’s why it’s crucial to seek guidance from an experienced property division lawyer from our firm. With our experience and knowledge of Ohio’s property division laws, we can ensure that the division is conducted fairly and in accordance with the law. You can rely on our guidance throughout this intricate process to protect your rights and interests.
How are Property Division Disputes Resolved?
When a couple decides to part ways, property division can be one of the most contentious issues to resolve. This process typically begins with identifying both marital and separate property. Marital property includes assets acquired during the marriage, while separate property refers to anything owned prior to the marriage or received individually as a gift or inheritance. Once items and debts have been collected, sorted, and appraised, there may be disputes. These disputes are generally settled in three ways:
Mediation
Mediation is an alternative dispute resolution method commonly used in property division cases. A neutral third-party mediator facilitates communication between the divorcing couple to help them reach a mutually agreeable settlement. Property division lawyers often recommend mediation as it promotes a less adversarial approach and provides more control over the outcome than traditional court proceedings. The mediator does not make decisions but guides the parties toward consensus on how to divide their assets and liabilities. If successful, the agreed terms are drafted into a binding agreement. This method can save time, reduce stress, and preserve relationships, which is particularly important when children are involved.
Arbitration
Arbitration is another option for property division disputes, providing a more formal alternative to mediation. In this process, an arbitrator, usually a seasoned property division lawyer or former judge, hears the case and makes a binding decision. Both parties present their arguments and submit evidence, similar to a court trial, but the proceedings are private and typically quicker. Arbitration can be a preferred option when parties seek a definitive resolution but want to avoid the time, cost, and public nature of a court trial. It’s important to note that once an arbitrator’s decision is made, it is very difficult to appeal.
Litigation
Litigation is often the last resort for property division disputes, utilized when other dispute resolution methods have failed or are inappropriate. In litigation, each party’s property division lawyer presents their client’s case before a judge, who then makes a binding decision. This process is public and can be time-consuming. However, in certain complex cases, litigation may be the only option to ensure a fair division of assets. It’s crucial to have an experienced property division lawyer to navigate the complexities of litigation properly.
What Makes Property Division Cases Complex for High-Asset Divorces?
High-asset divorces often involve complex property divisions due to the depth and diversity of assets. These may include businesses, real estate, investments, retirement funds, and even international property. Determining the correct value of these assets can be a challenging task. The division becomes even more complicated when assets are intertwined, such as business and personal finances, or when assets have fluctuated in value during the marriage. Tax implications of the division can create additional complexity. All these factors necessitate the involvement of knowledgeable property division lawyers.
Divisions of family-owned businesses can be especially challenging. A business may have been established by one spouse prior to the marriage, or both spouses may have contributed to its growth during the course of their marriage. In either case, property division lawyers must determine the value of the business and how it should be divided between the two parties. If one spouse is keeping the business, then other assets must be distributed to the other party to balance out the division.
Property division lawyers also have an important role in determining whether any debts should be considered marital or separate. Debt acquired during the marriage is usually divided between both parties but may require additional analysis in cases where one spouse incurred debt for business purposes or when complex asset transactions took place during the marriage.
How Can a Property Division Lawyer in Columbus Help Me?
A property division lawyer in Columbus can be instrumental in ensuring a fair division of assets during a divorce. We understand the complex laws surrounding property division and can help you navigate through this stressful process. With our experience in the division of property, we can also cover areas such as the distribution of family business, review inheritance rights, and ensure that neither of the divorcing spouses is showing economic misconduct. Not only can this result in a more favorable outcome, but it can also alleviate much of the emotional strain associated with asset division.
Other Practice Areas
- Family Law
- Paternity
- Prenuptial Agreements
- Stepparent Adoption
- Adoption
- Grandparent Visitation Rights
- Mediation
- Divorce
- Spousal Support
- Equitable Distribution
- Military Divorce
- Social Media in Divorce
- Dissolution
- Contempt & Enforcement
- Post Divorce
- Relocation
- Delaware Business Owner Divorce Lawyers
- Business Owners Divorce
- Tax issues
- Child Custody
- Grandparent Rights
- Same-Sex Couples Child Custody
- High Asset Divorce
- Retirement Assets
- Estate Planning
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Lawrence Law Office is the place to go if you need expert and experienced legal counsel. Very knowledgeable about the court system. Been around along time. I highly recommend them!
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If you’re ready to settle your property division, contact the Lawrence Law Office today at 614-820-1195 to get started!