• Dividing shared property is often difficult in a divorce.coeur bris?? image by Nath Photos from Fotolia.com
  
  Shared property divorces laws in Ohio aim for fairness to both spouses. The courts seek an equitable division of the assets acquired, by either of the spouses separately or that the spouses acquired together, during the time of the marriage. The courts have considerable discretion in how shared property is awarded as long they as guided by the principle of equitable treatment to both parties.
  
  

Equitible Distribition

• Ohio is an "equitable distribution" state regarding the division of shared property in divorce cases. This means that the shared property, usually referred to as marital property for legal purposes, is not necessarily distributed 50-50 between the spouses. Rather, the court divides the marital property based on what it believes is fair and equitable. In making this decision, the court considers such things as the length of the marriage, the liquidity of the shared property, the assets and liabilities of the couple and the tax consequences of dividing the marital property among other factors.
  
  

Shared Property Definiton

• The Ohio Revised Code section 3105.171 (3) (a) defines shared or marital property as follows: the property and assets, including retirement benefits, acquired by either or both of the spouses during the marriage, the interest that either or both of the spouses has in any property that was acquired during the marriage, all income and appreciation on separate (nonmarital) property that was due to the labor, monetary or in-kind contribution of either or both of the spouses during the marriage.
  
  

Financial Misconduct

• Ohio shared property law (section 3105.171 (e)(3) states that if a spouse dissipates, destroys, conceals or otherwise engages in financial misconduct regarding marital property, the court may give the other spouse an increased share of the couple's assets. It may also award the offended spouse a payment, called a "distributive award," from the offending spouse.
  
  

During the Marriage

• Marital property is generally defined as property acquired by either spouse or both spouses during the marriage. Ohio state divorce law ( section 3105.171 (2) (a) ) defines "during the marriage" as the time from the start of the marriage to the final hearing in the divorce action. But if the court determines that using these dates is unfair to one of the parties, it may substitute dates it believes are more equitable.