When it comes to divorce proceedings, it is natural for some people to make rash decisions based on emotion. These decisions involve life-changing issues, including child custody and property division. However, when trying to reach a settlement during a divorce proceeding in Ohio, it is essential to remember that each decision may have an impact on income taxes. Specifically, the manner in which one decides to file will also have an impact how much taxes may be owed.
Just like it takes two people to enter into a marriage, it takes two people to break one, right? Not necessarily. While it's understandable that some people in Ohio who are seeking a divorce may want out as quickly as possible, the ordeal can quickly become complicated if his or her spouse refuses to cooperate. Fortunately, it's still far from impossible.
Readers in Ohio may have followed the recent divorce case between billionaire oil magnate Harold Hamm and his wife of 26 years, Sue Ann Hamm. The couple have made headlines over the vast fortune to be divided between the spouses, which promised to break records in regard to being one of the largest settlements in history. The divorce was recently decided by a court, and Sue Ann Hamm was awarded a mix of assets and cash vlaued at more than $1 billion. She plans to appeal that decision, however, and argues that the award is not indicative of a fair division of marital wealth.
When Ohio spouses decide to end their marriage as they approach retirement, the details within their divorce settlement are extremely important. After the age of 50, there is simply less time left within the workforce to accommodate serious financial losses. This means that additional emphasis must be placed on creating the most favorable divorce settlement possible.
For many Ohio spouses, the family home is far more than the structure itself or the land on which it sits. Houses also hold the memories of the families within, and it can be hard to imagine letting the family home go as part of one's divorce. In many cases, spouses will fight hard to retain the house, without giving the issue the proper consideration. In the end, it is not uncommon for an individual to look back on that decision with remorse.
When it comes to divorce, there are often differences in the ways in which men and women go through the process. While everyone will have his or her own experience with divorce, there are some mistakes that occur so commonly that they become expected to some degree. The following are a few common missteps that men often make as they move through the end of a marriage. This information is offered in the hopes of giving Ohio readers the tools to evaluate their own scenario and determine if adjustments should be made.
The process of ending a marriage can be difficult. Recent research suggests that women may encounter more challenges along that path than men. We provide the following information in the hopes of providing Ohio women the tools and information needed to recognize these risks and take steps to prevent them during their divorce.
When it comes to the end of a marriage, few things are more powerful than careful and comprehensive planning. Spouses in Ohio who anticipate a divorce filing have an inherent advantage over those who do not and are wise to take steps to make the process easier. Through solid planning, individuals can make their divorce faster, easier and far less stressful.
Much has been made of taking a collaborative approach to divorce, both within this blog and in the greater media. When Ohio spouses are able to work together to reach solutions to their divorce needs, the result is often beneficial to all involved. It is important to realize, however, that there are certain divorce scenarios in which one spouse has every right to put their foot down and say "no."
When preparing to divorce, many Ohio couples take a team-building approach. They begin by selecting a divorce attorney to handle the legal aspects of the end of the marriage. Some will also choose a financial analyst to provide guidance on the monetary aspects of the process. Still others will make use of a therapist to address emotional concerns. One specialist that could also be of assistance is a real estate divorce specialist.