Greco LawFindLaw IM Template2026-11-06T12:14:15Zhttps://www.grecoatlaw.com/feed/atom/WordPress/wp-content/uploads/sites/1602558/2021/05/cropped-GrecoLaw-siteicon-512px-32x32.pngOn Behalf of Greco Law of Dublin, LPA<![CDATA[What tax issues arise when dividing high-value assets in Ohio?]]>https://www.grecoatlaw.com/?p=490672026-11-06T12:14:15Z2026-11-06T12:14:15ZYour tax basis after a transfer
When you receive an asset from your spouse or former spouse in a divorce, you generally owe no federal income tax on the transfer. You also take over the prior owner’s adjusted basis, which usually starts with the purchase price and later helps determine your gain.
Suppose the settlement gives you a $400,000 stock portfolio with a $100,000 basis. Selling the shares at their current value could produce a $300,000 gain and leave you with less after taxes than an equal cash award.
Taxes on retirement accounts, business shares and rentals
The federal tax you owe depends on the type of asset you receive and on how you draw money from it. Several common situations show how that works:
Withdrawals of pretax funds from a traditional retirement account count as ordinary income
A company’s buyback of one spouse’s shares can leave either of you owing tax on a gain or a dividend
A rental property can produce a gain even at its original purchase price
When a fair division requires a sale, an Ohio court must consider costs such as broker commissions. Those expenses reduce the proceeds available to split.
Tax decisions before you sign
An after-tax estimate shows what you would keep under each proposal. Your settlement can say who pays any later bill on a past joint return, though the IRS can still collect from either of you.
Dividing most employer retirement plans requires a court order the plan administrator approves as a qualified domestic relations order. Other transfers between former spouses keep that tax-free treatment within one year after the marriage ends.]]>On Behalf of Greco Law of Dublin, LPA<![CDATA[Can a parent relocate abroad with a child after divorce?]]>https://www.grecoatlaw.com/?p=490642026-10-29T09:37:05Z2026-10-29T09:37:05ZAfter divorce, a parent may get a job offer or family support in another country. Moving abroad with a child, however, can affect the other parent's time with the child. In Ohio, a parent should check the custody order before making plans to move. The rules depend on the order and the details of the case.
What determines whether a parent can move abroad?
Ohio law sets rules for parents who plan to move. The current custody order also matters. Being a residential parent does not always mean a parent can move abroad with a child without further steps. Before making plans, the parent should consider:
Existing court orders: The divorce decree or parenting plan may limit where the child can live.
The other parent's rights: A move abroad may affect visits and shared parenting duties.
Notice requirements: Ohio law generally requires a residential parent to notify the court of an intended move. The parent should check the order for specific filing rules.
Changes to parenting time: A move may make the current visit schedule hard to follow. The court may need to review the schedule.
A notice does not mean that every move needs court approval. However, some orders may require further action. A parent should review the order before making a final decision.
How an international move can affect parenting time
Living in different countries can make regular visits harder to arrange. Parents may need to plan longer visits during school breaks, travel costs and regular calls. If the parents cannot agree on the move or a new schedule, the court may need to decide the issue. The child's best interests and the current court order may guide that decision.
Planning for an international relocation
A parent should review the custody order before making firm plans to move abroad. An attorney can explain the notice rules and check whether the order limits relocation. The attorney can also assess whether a court filing may be needed. A clear plan for holidays, travel costs and calls can help parents address practical concerns before the move.]]>On Behalf of Greco Law of Dublin, LPA<![CDATA[How to split pensions and 401(k)s in a high-asset divorce]]>https://www.grecoatlaw.com/?p=490602026-10-27T16:31:13Z2026-10-27T15:54:33ZPensions vs. 401(k)s: Understanding the difference
A pension is a defined benefit plan. The employer promises a set monthly payment at retirement. A 401(k) is a defined contribution plan. Its final value depends on total contributions and investment returns over time. Many divorcing spouses hold multiple accounts of both types. Each account type works differently, so each one needs a unique legal approach.
How Ohio treats retirement accounts during divorce
The state considers retirement savings built within the duration of the marriage as marital property. Both spouses hold a legal claim to those funds. Courts treat contributions made before the marriage as separate property. Separating marital and separate portions requires detailed financial records and legal analysis.
Determining the value of retirement accounts
Ohio courts use qualified financial professionals to value retirement accounts accurately. For a 401(k), courts measure the marital portion from the date of marriage through the final divorce hearing. Courts may apply an earlier date when specific facts justify it. For pensions, actuarial calculations show the present value of future benefits. With large account balances, small valuation errors can lead to financial harm.
The role of a QDRO
Private accounts like 401(k)s need a Qualified Domestic Relations Order (QDRO) to divide funds between spouses. Ohio public employee pensions, such as OPERS and STRS, require a Division of Property Order (DOPO) instead. IRAs use a transfer-incident-to-divorce procedure. Each account type needs its own legal order. Using the wrong one can delay or void the transfer entirely.
Potential tax consequences
Beyond legal orders, the tax impact of dividing retirement accounts needs careful attention. Mishandling a retirement account division can trigger large tax bills and penalties for early withdrawal. However, a properly executed QDRO allows funds to transfer without sudden tax consequences. Each spouse then takes on personal tax duty upon future withdrawal. Working with a tax professional helps ensure the division proceeds correctly.
Securing your retirement benefits during divorce
Retirement accounts represent decades of financial planning. Dividing retirement accounts to move forward without following the proper steps risks losing a large portion of that wealth for good. Understanding how Ohio law treats these assets can help you protect your long-term financial security.]]>On Behalf of Greco Law of Dublin, LPA<![CDATA[Can incomplete disclosure make a prenup unenforceable?]]>https://www.grecoatlaw.com/?p=490572026-10-27T15:33:48Z2026-10-27T15:33:48ZWhat Ohio law requires for a prenup to be enforceable
Ohio courts usually uphold premarital contracts that meet specific requirements. Under the standard established in Gross v. Gross, Ohio courts generally evaluate whether both spouses entered the agreement voluntarily, whether complete financial disclosure was made and whether the terms of the agreement are fair and reasonable. A prenuptial agreement that fails any of these requirements may be unenforceable.
Furthermore, in Ohio, the person trying to enforce the contract may carry the burden of proving they made a full disclosure. This standard helps ensure that nobody takes unfair advantage of a prospective spouse.
What steps should you take?
You might want to review the exact terms that you signed before your wedding. Finding specific hidden accounts or understated property values generally strengthens your position. You could also gather financial records that existed at the time of your marriage. During a divorce, the trial court typically determines what property qualifies as marital or nonmarital. Highlighting missing financial information might encourage a judge to set the original contract aside.
How an attorney can support your challenge
An attorney experienced in family law might evaluate the circumstances surrounding your contract to find evidence of fraud. They could uncover hidden business interests through a formal discovery process during your court proceedings. They can also help you determine whether the lack of transparency might render the agreement unenforceable under current laws.]]>On Behalf of Greco Law of Dublin, LPA<![CDATA[When your co-parent refuses scheduled parenting time]]>https://www.grecoatlaw.com/?p=490552026-10-13T06:49:19Z2026-10-13T06:49:19ZDocument every denied visit
Keep a record of each missed visit. Write down the date, time, what happened and any explanation the other parent gave. Save texts, emails and voicemails. If possible, note whether you were on time, where you waited and whether you tried to resolve the issue calmly. These records can help show whether the problem is a one-time issue or a repeated pattern.
Ask the court to enforce the order
If your co-parent keeps blocking parenting time, you may be able to file a contempt or enforcement action. This asks the court to review what happened and decide whether the order was violated. The court can look at the facts, the existing order and the history between the parents.
If the court finds contempt, it may impose penalties allowed by Ohio law. The court may also order make-up parenting time if that would serve the child’s best interest. In some cases, the court may also look at whether one parent has repeatedly interfered with the schedule.
Follow the current order
Do not respond by withholding child support or ignoring other court orders. That can create more legal problems and may not solve the parenting-time issue. Continue following the existing order unless the court changes it.
Get help if the problem continues
If denied parenting time keeps happening, keep documenting each missed visit and ask the court about your enforcement options. You may also want to bring copies of the parenting-time order, your notes and any messages or emails that show the missed visits. An Ohio family-law attorney can review your order, your records and the next steps that may be available.]]>On Behalf of Greco Law<![CDATA[Does shared parenting reduce child support in Ohio?]]>https://www.grecoatlaw.com/?p=490392026-09-11T06:44:12Z2026-09-14T05:01:12ZShared parenting can give you meaningful time with your child. But equal parenting time does not automatically erase your child support obligation. In Ohio, the court considers your parenting schedule along with both parents’ income, child-related expenses and other financial details.
How parenting time affects support
Ohio courts generally calculate child support using the state’s schedule and worksheet. The calculation considers both parents’ incomes and determines each parent’s share of the financial responsibility.Your court-ordered parenting time can affect that calculation. If you have at least 90 overnights each year, Ohio law generally requires a 10% reduction in your annual individual child support obligation. The reduction may not apply if you fail to use your court-ordered parenting time without a valid reason.The 10% adjustment does not mean you will pay no support. A parent may still owe child support because the court bases the obligation on the overall financial circumstances of both parents.Several factors can affect the amount you pay or receive:
Parents’ income and earning ability
Number of children covered by the order
Court-ordered parenting time
Work-related child-care expenses
Health insurance costs for the child
Extraordinary medical or other child-related expenses
The court may also order a larger or smaller adjustment when applying the guideline amount would be unjust or inappropriate and would not serve the child’s best interest. The court must consider the relevant circumstances and make the required findings.
What if your schedule changes?
A change in parenting time does not automatically change your child support order. You generally must request a review or modification through the appropriate court or child support agency.For example, if you begin exercising substantially more court-ordered parenting time, you may have grounds to request a review. The court will examine the new schedule along with your income, the other parent’s income and the child’s expenses.
Looking at the full picture
Shared parenting can affect child support, but it does not guarantee a lower payment. Your 90 overnights, income and child-related expenses may all matter. An Ohio family-law attorney can help you understand how the rules may apply to your circumstances and what information you may need to request a review.]]>On Behalf of Greco Law<![CDATA[Can buy-sell agreements protect Ohio business owners in divorce?]]>https://www.grecoatlaw.com/?p=490382026-09-07T13:29:40Z2026-09-07T13:29:40ZHow a buy-sell agreement can help in a high-asset divorce
A well-drafted agreement can address the following concerns that may arise during property division:
An unwanted business partner: A buy-sell agreement can establish restrictions on transferring ownership interests. With this in place, a former spouse cannot acquire an ownership interest and become involved in the business.
A framework for a buyout: If the owner’s interest must be addressed as part of the divorce, the agreement may establish procedures for another owner or the company to purchase that interest. This can help preserve the business’s existing ownership structure.
Business valuation issues: A buy-sell agreement may include a formula or appraisal process to value a business interest. This can help the parties determine the business's value during a divorce. However, the divorce court may not have to use the value stated in the agreement.
Business continuity: A carefully structured agreement can help limit disruptions to the company's operations when an owner’s personal circumstances change. For a business that represents a significant portion of the family's wealth, maintaining stability can be an important consideration.
These benefits are why many business owners create buy-sell agreements well before divorce becomes a concern. They often include these agreements as part of routine succession or partnership planning.
Protecting your business interests during divorce
A buy-sell agreement can be helpful, but business owners should understand how Ohio divorce laws may affect it. An attorney can help business owners understand their legal options and protect the business they have built.]]>On Behalf of Greco Law<![CDATA[Can an Ohio divorce court appoint a receiver over a business?]]>https://www.grecoatlaw.com/?p=490322026-08-26T05:31:26Z2026-08-26T05:31:26ZWhen might a receiver be appointed?
A receiver is a neutral person who manages property or certain business affairs under court supervision. Ohio law permits courts to appoint a receiver in specific circumstances, including situations where property faces a risk of loss, removal or serious harm.
A divorce court may consider this remedy when evidence shows that business assets need protection. The court must have a legal basis for appointing a receiver. A simple disagreement between spouses does not automatically justify one.
The court will look at the specific facts and whether a receivership is needed to protect the property. Ohio courts generally require more than broad claims or concerns. The spouse requesting a receiver should provide evidence showing a genuine and immediate threat to the business or its assets.
What can a receiver do?
The court's order controls the receiver's authority. Depending on that order, a receiver may take possession of property, collect money owed to the business, manage certain operations or enter approved contracts. The receiver may also have authority to sell property when the court permits it.
Factors that may support a receivership request can include:
A serious risk that business assets could be wasted
Disputes over access to company funds
Concerns about unauthorized transfers of property
A threat to the value or operation of the business
A need to preserve assets while the court resolves ownership issues
Under Ohio law, the court can limit the receiver's authority to specific property or expand it to broader business operations when the circumstances allow. The receiver must follow the court's orders and remains subject to court oversight.
What does this mean for the business?
A receivership does not automatically mean that the court will sell the company. The court decides what the receiver can manage and what actions require further approval. The goal may instead involve preserving the company's value until the divorce court resolves the underlying dispute.
For a business owner, a receivership can change who controls important financial and operational decisions during a divorce. Understanding when this remedy may apply can help spouses make informed decisions when a closely held company becomes part of a contested Ohio divorce.]]>On Behalf of Greco Law<![CDATA[How does divorce affect your taxes in Ohio?]]>https://www.grecoatlaw.com/?p=490302026-08-25T14:09:56Z2026-08-25T14:09:56ZDivorce changes more than your daily life. It also changes how you file taxes and how much you might owe. This is especially true for high asset divorces, where homes, retirement accounts, investments and businesses all become part of the split. If you are going through a divorce in Ohio, understanding these tax rules can help you avoid costly surprises later.
Property division and capital gains
When couples divide assets like stocks, real estate or business interests, the IRS does not usually tax the transfer itself. Transfers between spouses during a divorce stay generally tax-free. But that does not mean taxes disappear forever.The person who ends up owning an asset also takes on its cost basis, which is the original purchase price you use to calculate gains later. So if you receive a house or stock portfolio in your Ohio divorce settlement, you could face capital gains tax when you eventually sell it. A financial advisor or tax professional can help you understand which assets carry hidden tax costs before you agree to a settlement.
Retirement accounts and alimony
Retirement accounts need special handling. Dividing a 401(k) or pension usually requires a Qualified Domestic Relations Order, or QDRO. Without one, withdrawals can trigger early withdrawal penalties and income tax, even if you meant to split the money fairly.For alimony, Ohio follows the Tax Cuts and Jobs Act of 2017, which states that spousal support under agreements executed after December 31, 2018 — or pre-2019 agreements modified to adopt the new tax rules — is non-deductible for the payer and non-taxable to the recipient. This differs from older rules, so it matters when you finalized your divorce.
Plan ahead with the right guidance
High asset divorces in Ohio involve many moving financial parts, and taxes can quietly reduce the value of a settlement if you don't consider them early. Before finalizing an agreement, it helps to work with both a divorce attorney and a tax professional. They can review how taxes will apply to each asset, make sure retirement transfers go through correctly and help you avoid unexpected tax bills after the divorce is final. A little planning now can protect your financial future for years to come.]]>On Behalf of Greco Law<![CDATA[Can a child’s preference affect custody in Ohio?]]>https://www.grecoatlaw.com/?p=490292026-08-17T07:20:05Z2026-08-17T07:20:05ZHow courts consider a child's preference
Ohio courts focus on the child's best interests when deciding custody. A judge may consider a child's wishes if the court believes the child has enough maturity to express a thoughtful opinion. However, no specific age allows a child to decide custody on their own.
The judge may learn the child's views through a private interview instead of asking the child to speak in open court. This process helps reduce pressure and protects the child's privacy. The child's preference becomes one factor among many. Understanding those additional factors provides a clearer picture of the court's decision.
Other factors that shape custody decisions
A child's opinion does not outweigh every other consideration. The court reviews the family's overall circumstances before reaching a decision. Factors may include:
Each parent's ability to meet the child's physical and emotional needs.
The child's relationship with each parent.
The child's adjustment to home, school and community.
Each parent's willingness to support the child's relationship with the other parent.
Any concerns that could affect the child's safety or well-being.
The court weighs these facts together instead of relying on a single issue. This balanced review helps support decisions that fit each family's situation.
Every custody case is different
A child's preference can influence a custody decision, but it does not determine the outcome by itself. Ohio courts examine all relevant facts before deciding what arrangement serves the child's best interests. Parents who understand this process can prepare for custody proceedings with realistic expectations and make informed decisions as their case moves forward.]]>