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How are debts divided in an Ohio divorce?

Many Ohioans think that asset division in a divorce is all about splitting the marital assets, ranging from bank accounts, furniture, real estate and investments. However, the property division process also includes the division of debts. In fact, spouses can be held accountable for the debt incur by the other spouse. This means that if the other spouse becomes a shopaholic and racks up the credit cards, the other spouse might be liable to pay for those credit card bills in a divorce.

The purpose of alimony in an Ohio divorce

Spousal support is often considered a family-law issue that can complicate a divorce. Because many former spouses are not on friendly terms with each other, it is often disturbing for the higher-earning spouse to financially support the other spouse. Despite that, spousal support is very important to the spouse who earns less, particularly if that person doesn't work.

August is Ohio's child support awareness month

Any family law issue, particularly those related to divorce, can affect children. Of all family law concerns, child support issues can greatly impact not only the financial need of the child but also his or her emotional well-being and relationship to the non-custodial parent. Unfortunately, it is all too common for children to experience this situation, especially if their other parent is failing to make child support payments.

Asset liquidation is not always a good idea

The treatment of assets in a divorce can vary from state-to-state. There are states that use community property laws to determine how the assets will be divided. In other states, such as Ohio, property division is based on the equitable distribution of property between each party involved. The final outcome of property division also depends heavily on the decisions of the divorcing couples.

More women are paying child and spousal support

It used to be quite unusual for a woman to pay alimony to an ex-spouse. This was big news since fathers were usually the ones who pay spousal support and even child support. However, as women break societal and professional barriers and vastly close the gap between the genders, more women are paying the support.

A few things to consider about prenuptial agreements

No one gets married thinking that they will get divorced. Unfortunately, it is a possibility, and a rather good one, according to the American Psychological Association, which reports that the divorce rate in the United States is around 40 or 50 percent. With this in mind, Ohio couples with significant assets may want to talk to a family law professional about a prenuptial agreement before walking down aisle.

Living together before marriage may not be factor in divorce

Why couples divorce has been a subject of debate for decades. The question "why" became a subject of particular interest to researchers in the 1970s when the U.S. began to see a significant and continual rise in the national divorce rate. Among the many reasons cited for divorce, for decades conventional wisdom held that couples who live together prior to getting married have a statistically greater chance of getting divorced than couples that wait to move in together until after they are married.

The importance of understanding financial matters in divorce

When going through the divorce process, there is inevitably going to be a lot to think about. Whether it is figuring out custody arrangements or deciding which spouse is entitled to what asset, divorcees have a lot on their minds. With almost everything in divorce, preparation and a clarity of purpose are going to be hugely helpful in clearing away some of the mental fog and confusion that sometimes results from thinking about family law issues.

Tools to protect a business in case of divorce

There is a lot about the divorce process that leaves something to be desired. Among them is the division of marital assets. While property division is never an enjoyable process, it is even more difficult when there is a small privately held business involved. The following article is intended to provide advice to Ohio business owners on how to protect the business and business assets in case of divorce.

Comedian tours to meet spousal support obligations

When Ohio couples divorce the lesser earning spouse can request spousal support from the higher earning spouse during the divorce proceedings. Unlike child support, spousal support is not mandatory nor is there a clear-cut calculation for determining spousal support. In fact, much of what occurs is at the discretion of the court. Because of this, the cost of spousal support can vary dramatically depending on various factors.

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