All About Property Division During Divorce in Oklahoma
Divorce can be incredibly complicated, and this is especially true for marriages that have lasted for an exceptionally long period of time. Untangling things and figuring out who gets what can not only be complex, but it can also be emotionally challenging. Property division is one of many aspects of divorce that has to be addressed, and how smoothly things go can depend on a wide variety of factors.
If you are divorcing in Oklahoma, then having an experienced Oklahoma City divorce attorney on your side is essential. You have to protect your rights and interests and also get through the entire process with as little distress as possible. A caring attorney who is experienced in handling divorce and knows how to manage the division of property can be quite helpful.
Dividing Property in an Oklahoma Divorce
When it comes to divvying things up in a divorce, two people may be on the same page and able to come to agreeable solutions with little contention. This is usually the best-case scenario. If this can happen, things will go much more smoothly. However, if two people cannot agree on property division then the court will make the decision for them.
Oklahoma is an equitable distribution state when it comes to the division of property in a divorce. This means that the division of property will not necessarily come out to a 50/50 split. Instead, many factors will be examined to determine how to divide a couple’s assets and liabilities.
One of the factors that will be examined by the court during the asset and liability division is if either spouse engaged in economic misconduct during the marriage. This is the careless and excessive use of marital monies. For example, if one spouse had a gambling problem and tore through a tremendous amount of money, then this would be used in the court’s decision.
Finally, not all property in a marriage is regarded in the same manner. While most of the property that was accumulated after marriage is usually going to be treated as community property, while other assets may not. For instance, in many cases, if one spouse had certain property before entering into the marriage, this property may be protected from division.
It can be very difficult to see the property that you built, invested in, and acquired during your marriage split up and taken away from you. There are several things that will be used to determine the fairest way to divide and distribute property. You may not walk away with an equal distribution of property, but considering all of the facts of a divorce and a marriage, your divorce should result in a reasonable allocation of your property.
Speak with an Oklahoma City Divorce Attorney Today
How property is classified and divided in a divorce can differ between couples. There are many factors that must be taken into account when determining the best solution for an equitable division of assets and liabilities.
For assistance with your divorce and to ensure your rights and interests are protected, call an Oklahoma City family law attorney at the Putnam Law Office at 405-724-7701 to schedule a free consultation.
