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How does financial misconduct affect property division in Ohio?

On Behalf of | Aug 25, 2022 | Divorce |

You and your spouse spent years climbing the corporate ladder, and have the possessions, real estate and other valuable assets to show for it. If your marriage starts to crumble and you decide it is time to divorce, you may be concerned about how property is divided in an Ohio divorce, especially if you have concerns about your spouse unfairly hiding or squandering assets before the divorce is complete.

Equitable distribution in Ohio

In general, Ohio courts follow the rules of equitable distribution in a divorce. This means that any marital assets are considered to be the property of both spouses and will be split in a manner that is fair and equitable. While sometimes this means a relatively 50/50 split, other times the split may be uneven if that would be just.

Financial misconduct in a divorce

However, what if one spouse tried to hide or destroy marital assets? This can be referred to as financial misconduct. If a spouse gambled away marital assets, used marital assets to purchase something illegally, used marital assets to buy presents for a lover who was not the other spouse or tried to hide assets in property division proceedings, this can be considered financial misconduct. In such situations, marital assets may be divided in favor of the harmed spouse.

Property division in an Ohio divorce can be complex, especially if it involves significant wealth, multiple pieces of real estate or other complex situations. If you are concerned about how your marital property will be divided in your divorce it can help to seek the services of an attorney who can give you further information on property division in Ohio.