Fully understanding assets is, of course, a critical part of a divorce. You do not want to rely on your spouse for this information, and you do not want to overlook anything. You must know what assets your control, what you have a right to in the divorce, and what steps to take.
As a general rule, when your child turns 18 in Ohio, neither you nor your spouse has to pay child support any longer since that child is legally an adult. This should be noted in your divorce agreement.
Couples at all income levels can have an amicable divorce or a hotly contested divorce. Every relationship comes with its own set of key factors that determine how things play out.
If your spouse asks for a divorce, one of the first things you need to think about is your financial position. You have a lot at stake here. Mistakes during this process could cost you tens of thousands of dollars -- or more.
You and your spouse have an art collection with a value in the millions. You love the art and collected it for its own sake, but you also know that it's a serious investment. As you move toward divorce, you will need to determine what to do with it.
When you and your spouse decided to buy a vacation home, you did not just want a property up in Michigan or out on the East Coast. You went all out and paid well over $1 million for a property in Europe. You bought a beautiful historic home on the water. It had a lot of charm and really gave you the relaxing escape you were looking for.
You and your spouse actually started talking about your business plans before you got married. You launched the company the same year that you tied the knot.
Your child gets accepted into a prestigious Ivy League school. You are thrilled. It has been your dream for a long time. You value education and you want the very best for your child.
Couples may end up arguing about a lot of things during a divorce, from child custody arrangements to whose fault the divorce is. One of the key points of any case, though, may be some of their high-value assets. When they don't agree, it can make splitting up property more complicated.
You and your spouse bought a home worth $1,000,000 about 10 years ago, and the value has only increased. When you file for divorce, you want to sell the house and split up the proceeds from the sale.