When couples divorce in Ohio, one of the most common questions is: “How will our property be divided?” Assets, debts, retirement savings, real estate, and even business ownership can all be part of the process. If you are searching for a divorce lawyer in Columbus, Ohio or anywhere in Ohio or asking, “Where can I find a family law attorney near me?”, understanding Ohio’s rules on property division is a smart first step.
Ohio Divorce Law and Equitable Distribution
Ohio is an equitable distribution state. This means that marital property is divided in a way the court considers fair, which may or may not be an exact 50/50 split. Judges weigh factors such as:
- The duration of the marriage
- Contributions to marital property (financial and non-financial)
- Any other relevant financial circumstances
- Any financial misconduct committed by one spouse, such as spending money on an affair, gambling or drugs.
An experienced Ohio divorce attorney can help present your case to ensure that fairness includes protecting your long-term financial security.
Marital Property vs. Separate Property
In Ohio, marital property generally includes:
- Earnings, savings, and investments acquired during the marriage
- Real estate, including the marital home or rental properties purchased while married
- Retirement accounts and pensions contributed to during the marriage (401(k), IRA, pension benefits)
- Business interests that were created or expanded during the marriage
- Debts such as mortgages, car loans, and credit cards
- Appreciation on assets that are separate property
Separate property may include assets you owned before marriage, inheritances, or gifts made specifically to you, as long as they were kept separate from marital assets.
Division of Marital Debts
People often ask: “Am I responsible for my spouse’s debt?” In most cases, debts accumulated during the marriage are considered marital debts. This means even if only one spouse’s name is on a loan or joint credit card, both spouses may share responsibility. However, there may be exceptions to the same such as whether or not one party lied or hid the debt being accrued.
Retirement Accounts and Pensions
Retirement assets are often among the largest marital assets. In Ohio divorces, the portion of retirement accounts built during the marriage is divided equitably. Courts often use a Qualified Domestic Relations Order (QDRO) to divide accounts like 401(k)s, and pensions, without tax penalties.
Real Estate Division in Divorce
The marital home can be the most emotionally and financially significant asset. Courts in Ohio may:
- Order the home to be sold and the proceeds divided
- Award the home to one spouse while requiring a “buy-out” of the other’s share
- Consider child custody and financial stability when determining who keeps the home
If you are searching for a real estate divorce lawyer near me in Columbus, our firm can help you evaluate your options and protect your ownership interests.
Dividing Businesses in Divorce
When one or both spouses own a business, division can be especially complex. If the business was founded or grew during the marriage, it may be considered marital property. Courts often require a business valuation to determine its fair market value. Options include:
- Selling the business and dividing the proceeds
- One spouse buying out the other’s interest
- Awarding the business to one spouse and offsetting value with other marital assets
Why You Need a Local Ohio Divorce Lawyer
Every divorce is unique. The way marital assets, debts, retirement accounts, real estate, and businesses are divided will depend on your specific circumstances. Working with a Columbus family law attorney experienced in property division ensures you have someone on your side who understands Ohio divorce law and local court practices.
Frequently Asked Questions About Property Division in Ohio
Do I lose half my retirement in a divorce in Ohio?
Not always. Only the portion of your retirement earned during the marriage is considered marital property. Courts divide that portion fairly, which may or may not be 50/50.
Who gets the house in a divorce in Ohio?
It depends. The court may order the home to be sold, or one spouse may keep it by buying out the other’s interest. Custody of children and financial ability to maintain the home often play a role.
Am I responsible for my spouse’s credit card debt?
If the debt was incurred during the marriage for marital purposes, yes if it is joint account—it is usually considered marital debt, even if only one spouse’s name is on the account, unless the debt relates to an asset that is going to be kept by one spouse…in that event your attorney will argue that this debt should follow the owner of the asset,
What happens to a business in an Ohio divorce?
If the business was started or grew during the marriage, its value is typically considered marital property. A valuation will be conducted, and the business may be sold, divided, or awarded to one spouse with an offset of other assets.
Does equitable distribution mean a 50/50 split?
Not necessarily. Equitable means fair, not always equal. The court considers multiple factors before deciding how to divide property.
Speak With an Ohio Divorce Lawyer Near You
If you are facing divorce in Columbus or anywhere in Ohio and have questions about dividing assets, debts, or property, our team is here to help. We will explain your rights, guide you through the equitable distribution process, and fight to protect your financial future.
When searching for an Ohio divorce lawyer near me, contact Joseph & Joseph & Hanna to schedule a confidential consultation with one of the experienced family law attorneys.