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Ohio Law - What Are Some Examples of Property Divisions?
Here are some more examples of property divisions in Ohio.
Cases:
McCoy (1993) 632 N.E.2d 1358 (In this case, the marriage had lasted
27 years and produced two now-grown children. The wife had worked as
bookkeeper for her husband's physical therapy business. The court
split the assets, resulting in an award to wife of between $1 and $2
million. The wife was not likely to be employable in the future.
The wife was also awarded alimony of $75,000 per year, payable
for eight years, and attorneys' fees of $96,000.
Frost (1992) 618 NE2d 198 (The marriage had lasted 17 years, and
there were two children, ages 17 and 13. The wife was not likely to
be employable in the near future. The husband was a sole
practitioner lawyer, earning about $90,000 a year. The couple's
assets amounted to just over $1 million. The court split the
property almost exactly down the middle. It gave the law firm, the
husband's Mercedes, IRA, and life insurance policy to him. It gave
the house, the wife's car, and some interest-bearing bonds to the
wife. In addition, it ordered annual support of $3,000 a year for
five years.)
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