Crafting Custom Asset Division Solutions
When a couple is going through a divorce or dissolution of marriage in Kentucky or Ohio, it is necessary to divide up all assets and debts accumulated during the marriage. The courts divide marital assets and marital debts in a fair and equitable manner. In order to determine what is fair and equitable, a few details must be determined first, such as what assets exist and what their values are as well as what debts exist and what their balances are.
Lead attorney Stephanie A. Dietz understands how every couple’s financial situation is different. She takes the time to sit down with each of her clients to craft a custom solution to asset division in order to ensure a secure financial future for her clients and their children.
Marital And Non-marital Assets
After all of the assets, property, and debts are identified, they must then be properly characterized as marital and non-marital. Generally, non-marital assets include property, inheritances and gifts acquired before the marriage, while marital property is property accumulated during the marriage, regardless of which party is identified as the owner.
Likewise, non-marital debts are generally debts incurred prior to the marriage, while marital debts are debts accumulated during the marriage, regardless of whose name is listed as the liable party.
Start Securing Your Assets Today
Property and asset division is often an involved process. Many clients benefit from experienced divorce attorneys who will do the research and hard work necessary to account for all property and assets so that their clients’ interests are preserved.