Asset and Property Division Lawyers
At first, the most stressful part of filing for divorce comes from the heartbreak and emotional pain of realizing a marriage is no longer working. Unfortunately, it rarely stops at just that. If there are minor children involved, the issue of child custody and child support arises. Then there is the question of property division, or separation of assets. This can include determining who keeps the house, an automobile, furniture, retirement plans and anything else considered to be marital property. The fight for property can often turn just as bitter and personal as a high-conflict child custody battle. It is a difficult and detailed process and can be overwhelming to handle without proper legal help. The Asset and property division lawyers of we have the experience to guide you through the process of property division while protecting your rights and interests and helping you obtain the assets to which you are entitled.
Equitable Division of Marital Property
With regards to property division, Oklahoma is an “equitable distribution” state. This is not the same thing as “equal distribution.” If the two parties cannot come to an agreement beforehand, the court will follow a procedure which will determine how to leave each party in a divorce on a relatively equal standing. The first consideration is what constitutes “marital” and “non-marital” property. This involves a legal process known as discovery and may include depositions and requests for documents, records, etc. The court also considers the contribution of each party to the accumulation of assets, which can include time spent providing stability in the home and contributions to education or training. The court will also take market and emotional value of assets into account, as well as future earning potential. The court then assigns monetary value to both the property and the debt, after which the assets are distributed in a fair, equitable manner.
Property division is an arduous and complicated process, far more involved than simply splitting assets in half. An experienced property division lawyer is necessary to evaluate your assets and aggressively develop a settlement that is fair for you.
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Going through a divorce is undoubtedly difficult, but sometimes it needs to be done. That does not mean you should lose everything that you have worked for during your marriage. You may be starting over from a personal standpoint, but you do not have to start from scratch financially.