Why an Ohio Separation Agreement for Dissolution is Crucial in Ending a Marriage
For many, ending a marriage is a time filled with uncertainty. Nearly all aspects of a family’s life will change, including their finances, child care and custody, and living situations. In Ohio, other than by an annulment, there are two ways to terminate marriages: by dissolution and by divorce. Divorces frequently require a significant amount of judicial intervention, which may not be preferable for spouses who are able to agree to terms of their separation without the need for a third party to make decisions for them. Dissolution is a more amicable alternative to divorce in which spouses both agree to ALL of the terms of their Ohio separation agreement for dissolution, terminating the marriage.
Dissolution is a process which allows the spouses to maintain a substantial amount of control over their situation. However, prior to obtaining a dissolution in Ohio, spouses must prepare and execute an Ohio separation agreement for dissolution, in which they set forth mutually agreed-upon terms regarding the ending of their marriage. This is essentially a legally binding agreement, in which they allocate all liabilities and assets. There are several key components that must be discussed in an Ohio separation agreement for dissolution, which are set forth below.
One crucial element of an Ohio separation agreement for dissolution is the division of all property. This includes any assets that the spouses have, including personal property like cars, jewelry, and furniture, real property, savings, and stocks. Moreover, this agreement considers who is responsible for any financial liabilities that had been accumulated during the marriage, such as credit card debt, mortgages, taxes, and student loans.
Key Aspects of a Separation Agreement for Dissolution
Another key aspect of an Ohio separation agreement for dissolution is the care and custody of minor children. If the spouses have minor children (under the age of 18) at the time of their dissolution, they must establish and agree upon the parental rights and responsibilities in this agreement, and set forth a forward-looking plan for custody, visitation schedules, and child support payments.
Similarly, the spouses must also include if there will be any spousal support paid, and if so, the amount and for how long these payments will be made. Also, it must state if the Court will retain jurisdiction over the spousal support terms.
An Ohio separation agreement for dissolution is a key component of the dissolution process. It must set forth all the contractual terms of their splitting up. This agreement must be drafted after there has been a full disclosure of each party’s financial assets and liabilities to the other.
Preparation of an Ohio Separation Agreement for Dissolution
Moreover, the agreement must be signed by both spouses. The terms of an Ohio separation agreement for dissolution must be voluntarily agreed upon by both parties in order to effectuate dissolution. Most often, a lawyer for each party will assist each in the preparation of the Ohio separation agreement for dissolution and the other required documents, and help negotiate any “sticky” issues between them.
However, if the parties are unable to agree upon any of the terms, then a dissolution proceeding will not be possible and they must instead file for divorce. The reason for this is that in dissolution, EVERYTHING must be fully agreed in advance of filing and then submitted in the proper format to the appropriate Court for filing.
CONCLUSION:
The above is just an overview of the purpose an Ohio separation agreement for dissolution serves in an Ohio dissolution. As you can tell, negotiating these terms to this contract can be very complicated depending on each specific situation. Making a mistake or two can be very harmful and costly. Consult an experienced divorce lawyer to discuss what you are trying to accomplish and the best way to achieve it!
At Holzfaster, Cecil, McKnight & Mues, located in Dayton, Ohio, top-notch family law and divorce representation is provided by our experienced divorce lawyers! To learn more, go to our website at www.hcmmlaw.com or contact us at (937) 293-2141 to schedule an appointment for an initial consultation by phone, Zoom, or in person.
PUBLISHER’S NOTE::
I want to thank Krista Gliszczynski, a third-year student at the University Of Dayton School Of Law, for writing and contributing this article. Krista is clerking with Holzfaster, Cecil, McKnight & Mues this semester. You will be reading more from her in the weeks to come!
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Attorney Robert “Chip” Mues has been focusing his legal practice throughout Southwest Ohio primarily in divorce and family law matters since 1978. Chip is passionate about family law and has proudly published the Ohio Family Law Blog since 2007. In addition, he is the managing partner of Holzfaster, Cecil, McKnight & Mues. To learn more about him or the law firm, visit the firm’s website at www.hcmmlaw.com. Appointments are available in person, over the phone or by Zoom. Call us at 937 293-2141.
