What Is Marital Versus Separate Property During Divorce?
If you are going through divorce, you likely are wondering about your monetary future. Will you need to sell your home? What happens to the car you just bought? Is your retirement in jeopardy?
At Greco Law, we answer your questions and put your mind at ease. We understand that divorce is a highly emotional, contentious moment in your life, and we take steps to protect your future while minimizing the time you spend in lengthy legal disputes. Our office in Dublin is available to set up your first appointment when you dial 614-792-7800.
The Difference Between Separate And Marital Property
In Ohio, your property falls into one of two categories: separate property, which is only yours and to which your spouse has no claim, and marital property, which you and your ex will divide among you during your divorce.
- Separate property generally includes property that you owned prior to your marriage, any property held in a trust specifically for you, and inheritances from your loved ones that list you only.
- Marital property often includes jointly titled property or joint accounts and other property which you acquired or developed within your marriage.
It is important to know a few things about these categorizations. First, property can change categories. For instance, if you build a building during your marriage on property you owned beforehand. Second, marital property can be complicated. For instance, if you support your partner’s educational pursuits, you may be entitled to some of their later profits. You need a professional to help you determine what property is divisible and what is safe from division.
Make The Right Move
Property division can be incredibly complex, especially for those with high-value holdings. Our attorneys act on your behalf and are truly powerful advocates. Send us an email to begin a conversation with us.