How are retirement payments handled in a divorce?

Divorce is not something that only happens to young couples. It can also happen to you when you are in retirement or near retirement. This brings up some concerns as to what will happen with retirement income or payments when you divorce your spouse. According to Forbes, division of retirement can be complicated for many reasons.

What are some commonly forgot estate updates?

After a divorce, you probably knew to update your will and to make sure your beneficiaries on accounts were changed. However, there are a few other things you should also do as part of your estate planning updates after you have ended a marriage in Ohio.

What are non-marital assets?

In Ohio, when you get a divorce, the court looks at your marital assets to divide property. Marital assets, according to the Ohio State Bar Association, are those things you own together. They are assets gained during the marriage. However, the court will not consider non-marital assets. There are four categories of such assets.

How are kids affected by custody disputes?

Divorce is hard on children because their family is changing. It does not help when their parents enter into a custody dispute. While the goal of Ohio courts is to keep the best interests of the child in mind, the court really cannot do anything about how parents act during the court case or what affect the process has on the children. As a parent, you should be aware of just what is happening to your child when you and their other parent argue over custody, visitation and other related issues.

What makes a high asset divorce different?

A high asset divorce in Ohio can be a very serious situation because of the extremely high value of assets and money involved. Because of this, it can take longer to sift through assets and for the court to make judgements. It may require investigations to ensure all assets are accounted for. According to Forbes, a high asset divorce includes another layer of stress simply due to the value of assets in the case.

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