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Tax Considerations

Free Legal Advice: Don’t Listen to It!

DANGER, DANGER! – Free legal advice can cost you a lot! When you have problems in your life you likely talk it out with your friends and family.  However, for legal advice you should only be seeking the advice of a licensed attorney in Ohio.  Attorneys often offer free legal advice about divorce and other legal…

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Securing Your Finances In Divorce (by Ohio Divorce Attorney)

  Many times bankruptcy and family law go together.  Sometimes it is because one person can no longer afford the expenses that two people used to contribute to.  Other times it is that one spouse has taken on a significant amount of debt in the divorce settlement.  Bankruptcy offers a solution to these problems.  When a person files bankruptcy after a divorce is finalized, they can…

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What Does The Court Consider To Be My Income?

One of the most common questions that we will discuss at the beginning of your case is your income.  The definition of “income” under ohio law is found at Ohio Revised Code 3119.01.  Here is a list (according to statute) that your county Child Support Enforcement Agency (CSEA) or the Court will utilize in determining how much…

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Divorce and Capital Gains Tax

Internal Revenue Code sec. 1041 provides that where an asset, otherwise subject to capital gains tax, is transferred from one spouse to another pursuant to a court order, such as by decree of dissolution or divorce, no gain is recognized.  This means that if a husband transfers a house to his ex-wife as part of…

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Valuing Marital Assets Accurately–Extremely IMPORTANT!!

  One of the most important aspects of your divorce (besides custody of your children, of course) is to have correct valuations of marital assets.  Your attorney has the very important job of investigating, valuating, and objectively inventorying all marital assets.  Some assets have a readily ascertainable value, such as a bank account, publicly traded…

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