Cleveland Division of Assets Lawyer

Dividing assets in divorce can be an extremely complex process. It is important to work with an attorney who has significant experience in this area, and who can ensure that your financial interests are protect throughout the process.

I am attorney Philip Fine, and I have more than 47 years of experience in divorce and property division matters. I can help you through this process, protecting your rights and explaining what legal options are available. Contact a Cleveland division of assets attorney today to learn more.

Dividing Property in Divorce

In general, any property that either spouse acquires during marriage is considered joint property, and therefore subject to property division. This can include anything from cars and stock options to retirement accounts. Property obtained before marriage, and property designated to one spouse individually as an inheritance, is considered individually owned and, in most cases, is not subject to division.

Many couples create a prenuptial agreement before getting married. Upon divorce, this document serves as a guideline for dividing property based on the preferences of the couple at the time of marriage.

Family law courts in Ohio consider a number of factors when determining how assets will be divided in court. Among these factors are:

  • The length of the marriage
  • Whether the couple has children
  • Tax consequences
  • Liquidity of property
  • Cost of sale

Dividing Debts in Divorce

Like assets, debts are also subject to division in divorce. This can be one of the most challenging parts of property division in divorce. It is important to ensure that all debts are accounted for and that each spouse is held responsible for paying his or her fair share.

It is not uncommon for one or both spouses to consider filing bankruptcy during or after divorce. As a bankruptcy and family law attorney, I understand how these issues often overlap. I can help you decide if bankruptcy is your best option and, if so, when to file: before or after divorce, and individually or as a couple.

Contact a Beachwood Divorce Attorney

To learn more about the division of assets in divorce, or for help settling a marital property dispute, contact my law office today at 216-591-1455. My offices are open Monday through Friday, from 9 am until 5 pm, and Saturday mornings by appointment. I will make special arrangements to meet with you in the event of an emergency. I charge affordable rates and offer payment plans.