Ohio courts may treat a spouse's future business profits either as a marital asset subject to division, or as a stream of income for spousal support purposes, but not both.
WASDWORTH, Ohio (PRWEB) February 20, 2018
When a business is valued in a divorce, future income is part of the valuation. Spousal support is based upon the income of the spouses. Because both business division and spousal support calculations consider future income, there is a potential for a double dip. In calculating spousal support, Ohio courts may treat a spouse's future business profits either as a marital asset subject to division, or as a stream of income for spousal support purposes, but not both. Attorney Daniel Gigiano reviews such Ohio divorce double dip issues in his blog.
Ohio divorce courts must balance issues like this on a daily basis. Ensuring that the parties keep the same standard of living for a period of time reasonably related to the length of the marriage is an overriding goal of Ohio domestic relations courts. Property division is another important function. While most property division issues focus on tangible household assets and financial accounts, businesses can and are divided in divorces.
Attorney Daniel Gigiano practices domestic relations law in Medina County, Summit County and Wayne County, Ohio. In his practice, he handles numerous support, property division, debt division and child custody issues, including Ohio divorce double dip issues.