When it comes to separating assets,
especially emotional ones, reaching an agreement that works for everyone can be
tricky. For liquid items, such as bank accounts and retirement accounts, the
division can be far less difficult due to a cash value already being attached
to them. However, for many Ohio residents, figuring out a fair asset division
when it comes to personal property can be far more frustrating.
In many cases, a couple will have
acquired some unique items throughout the course of their marriage. These items
can be difficult to split unless an agreement is reached. However, if both
parties wish to remain in possession of the unique item and find themselves at
an impasse, there are several ways in which a division can be achieved.
The easiest of all methods is to force a
sale of the item and to split the proceeds. This allows each party to receive a
fair share of the value of the item. However, for those who wish to keep the
item, a common way to do so would be to offer to buy out the other spouse of
their share. If things are extremely contentious, however, and both parties
refuse to compromise on who gets the item, a judge may have to step in and
determine what should happen.
Finding a fair compromise for asset
division in an Ohio divorce can be difficult if the assets involved hold personal
attachments to the parties. However, by seeking the proper advice and by working
through the jointly held property one piece at a time, an agreement may be able
to be reached. This agreement can save a lot of stress and money in the long
run and can send both parties on their way to a new life in the best financial
shape possible.
If you find yourself facing the prospect
of divorce, contact an experienced Ohio family law attorney who can help guide you through the
difficult process. Count on the expertise of Twinsburg family law attorney Carol
L. Gasper.
Source:
“How
To Divvy Up The Goods In A Nasty Divorce,” by Michele Bowman,
published at BusinessInsider.com.
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