Photo of the legal professionals at Harry Lewis Co., LPA
Photo of the legal professionals at Harry Lewis Co., LPA

Trusted In The Columbus Area
For More Than 40 Years

Photo of the legal professionals at Harry Lewis Co., LPA

Trusted In The Columbus Area For More Than 40 Years

If You Think Your Spouse Is Hiding Assets, Get A Lawyer’s Help

Going through the process of divorce is an emotional time with adjustments to new living arrangements and co-parenting with an ex-partner. With all of the modifications, no one wants to face a drastic change in their lifestyle due to their financial state post-divorce. How can you protect yourself and your right to assets?

Unless you signed a prenuptial agreement before your marriage, Ohio law states that assets not considered separate property should be divided in an equitable manner. In high-asset divorces, it’s important to ensure your spouse is completely transparent about all finances such as bank accounts, retirement funds and income. We work with financial experts to make sure you are protected.

Many times, ensuring you have an accurate count of the marital assets will come down to the experience and knowledge of your divorce attorney. Especially if a family-owned business is involved, it can be common for one spouse to claim the company is not as profitable as it actually is.

What Factors Determine Spousal Support?

In divorce, sometimes one party seeks spousal support from the other. The amount of spousal support (alimony) you pay or receive will depend on a number of factors as outlined by the court such as:

  • Duration of the marriage
  • Income
  • Prior employment and earning ability
  • In addition, courts consider other relevant factors in an effort to determine what is just and equitable.

When Is A Divorce A High-Asset Divorce?

Not every divorce qualifies as a high-asset divorce, even if there are a lot of assets involved. When a divorce includes more than one million dollars in assets or has high-value assets such as a business, investments or collections, it will often be considered a high-asset divorce.

Dividing Real Estate In A Divorce

It is no secret that dividing assets in a divorce can be complicated, but there may be more to split in your divorce than you expected. Anything you acquired during the length of your marriage may be on the table for division negotiations, including vacation homes, rental real estate properties you own, commercial real estate, investment real estate, primary living residences, commute vehicles and recreational vehicles are all common assets for division in a high-asset divorce.

Dividing A Business In A Divorce

Dividing the family business is not just a matter of picking one spouse to take over the business, there are actually multiple ways of resolving this area of asset division. The most common outcomes in this matter include:

  • Buyout – Where one spouse purchases the other’s stake in the business. This transaction can occur by exchanging money or even trading other assets that are involved in the division process, such as a vacation home.
  • Co-ownership – If both spouses want to keep their share of the business, it is possible to do so. While this outcome is rare, ex-spouses can proceed with business as usual, or elect for one spouse to assume a “silent partner” role.
  • Total sale – If neither spouse wants to keep the business or they cannot agree on the other options, selling the business completely may be the best option.

We can work with you to pursue the option you deem best for you, and develop a custom-tailored strategy o pursue that goal.

A Pioneer In This Part Of Divorce Law

Our firm, Harry Lewis Co., LPA, was founded more than 40 years ago. Harry Lewis took divorce representation in Columbus to another level by hiring forensic accountants to ensure his client’s rights to property. Today, his son, attorney Gregg R. Lewis has evolved the practice and continues his father’s legacy of offering people legal advice they can trust in family law and domestic issues.

Get Our Experience On Your Side

Contact our firm, Harry Lewis Co., LPA, at 614-721-6175 or through email to schedule an initial consultation about your case with our lawyer.