marital assets

Understanding Financial Misconduct in an Ohio Divorce

Divorce is both an emotional and financial separation. Unfortunately, some spouses try to gain an unfair advantage through financial misconduct in an Ohio divorce, such as hiding assets, wasting marital property, or taking on secret debt before or during the divorce process.

Ohio law recognizes these actions as financial misconduct and allows courts to compensate the innocent spouse when misconduct is proven. The key is identifying the problem early. If something doesn’t seem right, tell your attorney.

Under Ohio Revised Code Section 3105.171, financial misconduct occurs when a spouse knowingly dissipates, conceals, destroys, or fails to disclose marital assets. If proven, an Ohio court may award a larger share of the marital estate to the innocent spouse.

Financial misconduct in an Ohio divorce can take many forms, depending on the circumstances and the assets involved:

• Hiding bank accounts, investments, or income
• Transferring assets to friends or relatives
• Gambling or excessive spending before divorce (this topic is covered more in depth here)
• Using marital funds to support an extramarital affair
• Concealing business income or manipulating financial records
• Accumulating significant debt for non-marital purposes

These actions can significantly impact a fair property division.… View Full Article → “Financial Misconduct in Ohio Divorce: If You Suspect Something, Say Something!”