Legal Question in Family Law in Ohio
When divorcing in ohio are all assets split 50/50 even if owned by just one fo the parties involved?
1 Answer from Attorneys
In Ohio, when the parties to a marriage get a divorce, the assets and the liabilities of the marriage are added up and split between the parties in an "equitable" division. The law does not require an "equal division". Often, it is equitable to split the assets and liabilities equally, but not always.
Who is the titled owner of an asset or debt means nothing to the divorce court. The court is interested instead in when and how the asset or debt was acquired. Usually, if an asset is purchased or a debt is incurred during the marriage, then it is subject to a equitable split by the court. But there are exceptions when the asset has been inherited, or if it was the result of a personal injury. Further, if the asset was acquired before the marriage, then that will be separate property not usually subject to equitable division.