Division of Property and Date of Valuation
Determining the Date Can Save You Money!
Ohio Revised Code 3105.171 defines marital property as any asset accumulated by the parties at any time from the date of their marriage until the date of the final hearing in an action for divorce or legal separation.
Imagine that you make the bold move of filing for divorce. You and you spouse both hire attorneys and begin the process of negotiating an agreement that will divide your assets and terminate your marriage. In most instances, the date that your assets are divided is not significant. For example, if a house is to be sold or if a retirement benefit or bank account is to be divided equally, there is no need to demand a valuation date. However, where a retirement benefit or business asset may make substantial gains, it is important that your attorney demand a valuation date or advise you of the consequences of failing to file a complaint immediately. You do not want to be in a situation at the time the qualified domestic relations order is determined you find out that you have lost a significant gain that could have been yours alone. This type of issue can be of particular importance in military divorce cases.
The best way to plan for a valuation date is to have a thorough discussion with your attorney prior to filing your divorce case. While the first part of your divorce may be extensive negotiations, or, alternatively the quick filing of a divorce complaint, either outcome must be thought through and planned for. The way we will handle your case in
volves a three-step approach: Advising, Negotiating and Litigating. Advising is more than helping you fill out forms and charging a retainer fee; it is a meaningful two-way communication that shapes what the attorney client relationship will become. Failing this dialogue, its absence will become achingly apparent when the attorney goes behind closed doors to discuss your case. Negotiation is also a two-way street involving a realistic acceptance of your position, articulation of the goals of your case and the realities of the adversarial process. If you have communicated successfully with your attorney, you can expect to prepare a legal strategy that will focus on your desired outcome. Those parameters will be the basis of all discussions with the other side. Litigation results when you cannot reach a desired result through negotiation. Your attorney must prepare for litigation from the first consultation in order to maximize the chances of reaching your desired result. The work of an attorney in the court room is the pinnacle of years of training and experience. If your attorney is unable or unwilling to litigate, your ability to negotiate a favorable settlement will be compromised.
Going through a divorce and/or custody battle is a traumatic a heart-wrenching process. You must choose an attorney with whom you are completely comfortable. Often, you will have to choose the better of two bad options and the only input you will have will be the experience and judgment of your counsel. Somewhere out there, you can find the attorney that is right for you. Finding the right family law attorney starts with a free face-to-face consultation. To schedule an appointment, please call me at (937) 879-9542.
Jamie Lynn Anderson was born and raised in Logan, West Virginia. She attended and graduated from Marshall University in December 2001 with a B.A. in Political Science. From there, Jamie attended and graduated from the West Virginia University, where she earned a M.A. in Political Science in May 2001. After obtaining her Master’s Degree, Jamie went on to attend and graduate from the University Dayton School of Law, where she obtained her Juris Doctorate in May 2006.
After graduating from law school, Jamie was admitted to practice law in the State of Ohio in 2006. Thereafter, she was admitted to practice law before the U.S. District Court, Southern District of Ohio in 2007. Jamie is a member of the Greene County Bar Association, Clinton County Bar Association, as well as the Ohio State Bar Association. During her tenure as a practicing attorney, Jamie has perfected her skills in the areas of Domestic Relations and Juvenile Custody, Bankruptcy, Estate Planning/Probate, and Real Estate matters. In her free time, Jamie enjoys spending quality time with her family and friends, traveling, and working out. She loves spending time outdoors, and traveling back to West Virginia to visit family as often as possible.
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