Dividing your Property in Your Divorce

If you live in Marysville, Ohio and you have marriage problems, particularly if you have been married for a long time, you may have acquired considerable property during your marriage. Now that your marriage is on the rocks, how can you get your fair share of that property as you decide on dividing your property?

Jack W. Carney-DeBord of Jack’s law office has written a divorce guide for the people of Marysville who find themselves in that situation. His book provides the answer to that crucial question and to the many more that come to mind as you face the divorce process.

In relation to dividing your property, Jack’s book gives a step-by-step method for determining exactly what marital assets and liabilities you and your spouse have. (Some of your property, such as an inheritance, may belong to just one of you.) Properly preparing your marital Balance Sheet is the first step to making sure you get your fair share. The balance sheet is what the judge uses to determine an equitable division of assets and liabilities – what you get and what your spouse gets.

• List all of the *marital assets worth more than $500. (Marital property is property purchased/accumulated during the time of marriage.)
• List all of the *marital debts on another piece of paper. (Again, do not list debts that you had before the marriage.)

* Each asset and debt must have documented proof of their value.

Here’s how Jack suggests you prepare a reasonable method for dividing your property.

  1. Distribute each of the assets and liabilities to one spouse or the other. Put the name of the asset/debt under either spouse’s name. The goal is to distribute the assets and liabilities so that each spouse receives nearly equal amounts of assets and debts.
  2. Come up with two or three proposals that would be ballpark fair using the above method. Try to think of assets or liabilities that are important to you and your spouse. That is called compromise and is what a court will expect the parties to do.
  3. Take your proposals to your attorney and discuss how they are fair and how your proposal could work. (Jack’s Law Office has some nifty software that can be used to show how each proposal affects what either spouse will receive.)

Of course, this is the “bare bones” version of the information Jack provides in his divorce guide book. You will want to read the entire book for detailed instructions on going through the above steps for dividing your property and for all the other topics about the divorce process that Jack tells you about.

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