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Columbus Divorce Law Blog

'Real Housewives' star gets large divorce settlement

Settlements in a high-asset divorce can understandably be quite large. When a couple in Ohio or elsewhere has significant funds, the decision as to who gets to keep which assets may involve both long negotiations and court intervention when they can't agree. However, like others of fewer means, a couple confronting a high-asset divorce must work through a multitude of issues to achieve a fair result.

A recent report details the high value settlement reached between "Real Housewives of Beverly Hills" star Yolanda Hadid and her ex-husband. In the reported settlement, the former Mrs. Hadid received the Santa Barbara mansion, real estate valued at $6 million in Malibu, an Arabian horse, the company named Hadid Interiors, cars including a Range Rover and an Escalade, and several bank accounts. She also received a one-time payment of $3.6 million. It appears that Mr. Hadid retained many of the family debts.

Alternative divorce solutions for Ohio couples

Collaborative divorce and mediation are becoming more popular for many who are seeking a divorce. The decision to end a marriage and file for divorce is a difficult one for many in Ohio. When it cannot be avoided, however, there are alternatives to the traditional litigation process to consider.

Couples choosing to divorce typically face many issues. These may include spousal support, child custody and the division of property collected over the years of marriage. When parties cannot agree on terms, it is the court that considers what is best for the children and most equitable for the spouses as it awards custody and maintenance and decides any other unresolved issues.

Study shows poor communication, negativity are factors in divorce

Few couples in Ohio think that their marriages will end in divorce. People often take the leap into the long-term commitment imagining that it will last a lifetime. Sometimes, though, the dream of a lifelong marriage fades, and a couple finds that they would be happier seeking a divorce.

Couples who report being satisfied with the first four years of marriage were the subjects of a recent study. A group of 136 couples who initially reported themselves as being very satisfied with their marriage were followed over a decade. The participants were periodically interviewed, and the divorce rate was logged.

Parent relocation can lead to child custody dispute

Ohio residents know that child custody can be a contentious issue in even the most amicable of divorces. In many child custody disputes, both parents simply want what they believe is in the best interests of the children. The problem, of course, is that they often have differing views on just what that means.

Even after a divorce, child custody can continue to be in issue. This is often true when one parent seeks to move with the children to another state. While the reasons for a proposed move can be valid, the noncustodial parent has a right to object.

No redo for divorce settlement based on Madoff investment

Ohio couples going through a divorce know that property division can be tricky. In some cases, determining the value of assets can be a challenge due to fluctuating markets or the timing of real estate assessments. Value determination, however, is one of the most important aspects of property division.

Once reached, a divorce settlement is difficult to change. One of the few reasons to alter a settlement for property distribution is mutual mistake, according to a recent report. The mistake must be substantial, must have existed at the time the agreement was entered into, and both parties must have been unaware of the mistake.

Living together before marriage does not impact divorce rate

Living together prior to marriage is common for many couples in Ohio, and throughout the country. In fact, a recent study showed that approximately 60 percent of couples live together prior to marriage. Of those individuals, the couples that were engaged and cohabitating prior to marriage were no more likely to get a divorce within 15 years than those who did not live together prior to marriage.

Close to 50 percent of first marriages fail to make it to the 20-year anniversary, according to nationwide statistics. A recent study, conducted by the national Centers for Disease Control and Prevention, looked at multiple marriage trends across racial groups and educational levels. They found that Asian women were most likely to stay married, with 70 percent still in their first marriage at 20 years.

Attentive divorce planning can improve financial future

Beginning a divorce is an emotional and often stressful process, as many Ohio residents know. As emotions run high, it can be difficult to focus on the financial future. However, it is important to consider all aspects of the financial outcome of a divorce in planning for future needs.

Some suggest that as you begin to consider a divorce, one of the best first steps is to make a list of all of your assets and debts. Using tax returns, investment statements and monthly bills, a person considering divorce should work to create a full picture of the financial life of a couple. This can assist in negotiations as the divorce moves forward.

Dennis Quaid faces third divorce, wife cites personality conflict

High-asset divorces can encompass many different people. Couples who divorce after decades of marriage, very wealthy people and celebrities likely come to mind. Today, we will discuss the recent news of actor Dennis Quaid's third divorce that some Ohio residents may have heard about.

According to The Washington Post, Quaid's wife of seven years filed for divorce citing a "conflict of personalities." Although it is not clear exactly how much the notable actor is worth, it is likely a substantial sum. One of the most complicated issues in a high-asset divorce like this one is often property division. While most courts will do their best to arrange a fair and equitable division of assets, divorcing couples do not always agree on how marital property should be split.

Marital assets: Who gets Rover?

When an Ohio couple files for divorce, they begin a process that will lead to the division of their martial assets and property. This negotiation over dividing marital assets in a divorce can be emotional, as the couple works to come to agreement about who will get to keep property like the family home, the car and even sentimental items like art work or vacation souvenirs. Increasingly, couples involved in a divorce must also come to an agreement as to who gets to have custody of the family pet.

Authorities note that all states, including Ohio, consider a pet personal property. Like the furniture, dishes and other marital assets, they are to be awarded to one of the divorcing spouses. But recently, according to the president of the American Academy of Matrimonial Lawyers (AAML), judges in divorce cases have been asked to consider these pet custody questions more akin to child custody than property division.

Alimony dispute: actor Terrence Howard battles in court

Often times in a marriage, one spouse may be financially dependent on the other spouse for many or all of their needs. A divorce, then, could leave that spouse destitute, which is why many states, including Ohio, allow for alimony payments. That way, the financially dependent spouse is able to maintain a reasonable standard of living even following the end of the marriage.

It may of course come as no surprise, though, that the proper amount of alimony is often a contested issue in a divorce. In that vein, readers may be interested to hear of the recent divorce proceedings between actor Terrence Howard and his estranged wife. Howard, who is an Oscar-nominated actor, is disputing the amount of alimony he owes his wife after a judge ordered him to pay $50,000.

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