A Skilled Attorney Handling The Division Of Investment Accounts In Cincinnati Divorces
Managing investment accounts in a divorce is often complex and emotional. When such significant assets are at stake, you need to have a compassionate yet formidable advocate by your side. Zachary D. Smith, LLC, of Cincinnati is here to represent you.
Our founding attorney, Zachary D. Smith, brings extensive trial experience and a deep understanding of family law to each case If you are facing a divorce involving complex property division issues, including investment accounts, Zachary D. Smith and our team are equipped to handle your needs with precision and care.
How Are Investment Accounts Handled In A Divorce?
If you created or contributed to your investment account during the marriage, or the investment account increased in value during the marriage, the state of Ohio generally considers it a marital asset. As such, it is subject to Ohio’s equitable distribution laws. This does not always mean a 50/50 split, but rather what the courts deem fair and equitable. The court may consider factors such as each spouse’s economic circumstances, contributions to the marriage and future financial needs. Couples also have the option of determining an asset division arrangement out of court. Some options may include:
- Liquidate the investments and divide the proceeds
- Open separate accounts, divide joint accounts and close joint accounts
- Keep one or more accounts and transfer a portion one or more accounts to the other spouse’s name
Remember to consider the tax implications of each option. Our Cincinnati divorce attorney works closely with you to explore all possible scenarios. We strive for an outcome that protects your financial interests.
What Types Of Investment Accounts Are Subject To Division?
In a divorce involving complex assets, various types of investment accounts might need to be divided. This includes:
- Individual taxable brokerage accounts: Accounts in one spouse’s name.
- Joint taxable brokerage accounts: Owned by both spouses.
All forms of investments in these accounts, such as stocks, bonds and mutual funds, are considered when dividing assets. It is essential to accurately assess the value of these investments and understand the tax implications of any division strategy. We guide you through this complex process, ensuring that you have a clear understanding of what is at stake and how best to proceed.
Protect Your Investments With A Cincinnati Divorce Lawyer
Navigating your divorce and the division of your investments is complex. Let us simply go through the process and seek a fair outcome. Contact Zachary D. Smith, LLC, today at 513-275-5367 or send us an email to schedule your consultation.
