Mowery Youell & Galeano, Ltd.
Mowery Youell & Galeano, LTD. Attorneys at Law
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Posts tagged "assets"

Dividing assets? Keep your eye on the prize: the future

People who are going through or expect to go through a contentious divorce should know that they are not alone. A huge number of divorces involve a dispute of some kind because of all the difficult emotions that are involved. Each spouse can feel angry, sad, scared and betrayed during a divorce, and many people are fueled by these emotions which can complicate an already difficult process.

But I'm not responsible for that credit card!

If you are or have been married, chances are you have opened at least one credit card with a spouse. Though there are a number of people in Ohio and across the country who choose to keep their finances separately from their spouses', most people combine their finances. There is nothing wrong with that, but that does mean should the relationship break up, the debts on these credit cards will be subject to property division; splitting the marital assets must also mean splitting the marital debts.

Ohio Supreme Court rules on issue of unvested military benefits

We recently wrote about the dual role that many moms across the nation are taking on, that of an active service member and parent. The focus in the prior posts was on child custody issues that are unique to military families. The Ohio Supreme Court recently ruled on another family law issue that directly affects those service members who live in Columbus and may be considering filing for divorce.

Divorce rate doubles in 2 decades for couples 50 and older

The National Center for Family and Marriage Research at Bowling Green State University has tracked and analyzed U.S. Census Data for the two decades between 1990 and 2010. These researchers found that the data put into hard numbers a trend that many divorce attorneys have noticed, 60 percent according to the American Academy of Matrimonial Lawyers.

Student loans: what's mine isn't always your in an Ohio divorce

No matter who a couple is or what their circumstances are, when the pair wants to legally obtain a divorce in Ohio, property division must be discussed. What decisions are made during that discussion differ based on the property itself, the individual couple’s situation or whether or not a prenuptial agreement is in play, which is precisely why each spouse should consult with a divorce attorney.

Debt an important part of property division in an Ohio divorce

We have discussed property division many times over in our Columbus divorce law blog. In many of these posts, the property division discussion has centered on the division of positive assets, but what about those negative liabilities? In the current economy, a lot of couples have debt, whether it is a mortgage, a car, credit card debt, medical debt or any other kind. Dealing with this type of property is just as important.

Is renovating real estate a relationship reality check?

Renovating a home has become much more common these days, but it is a big project to undertake. “Renovations cause more stress on a marriage than having a newborn child,” said one real estate broker. “That’s what I’ve come to believe.” Real estate experts have even noticed a correlation between newly renovated homes and divorce.

Economists see rising divorce rate as a positive sign

When two spouses are involved in a closely held business, they have several options for handling the marital asset during a divorce. These options might include selling the business or buying out one spouse. During the recession, neither of these were an option for some married, small business owners.

Seniors: don't let retirement fears become divorce reality

It is probably a safe assumption to say that most people in Columbus, Ohio, understand that property is divided during a divorce. Spouses know that when they get divorced, they’ll have to decide what they will do with the house, which spouse will get the car, whether the pair will change their business partnership and much more.

Couples asking courts to see pet as a 'he' or 'she' not an 'it'

The American Academy of Matrimonial Lawyers often conducts surveys that help determine what is happening across the nation concerning family law issues. A trend has developed over the past few years that questions a long-standing legal theory. That theory is that a pet is considered property in a divorce.

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