Property Division and Postnuptial Agreements from Divorce
A lot of people dread the division of property during a divorce because they fear losing important and personal belongings. Part of marriage comes with shared ownership, and the lines of who really owns what can become blurred. When agreements cannot be made, it will be up to the judge to decide on how each property will be divided. For some people who owned personal belongings, this can be devastating. Talk to an Oklahoma City Divorce Attorney if you are concerned about losing rights to your property.
How Couples Decide on Property Division
Marriage does not come with clear property laws on which partner owns what. No one writes down what they bought and when because there are often various other things competing for their attention. Worrying about each item someone owns is tedious and can feel like a waste of time.
The same logic applies to issues surrounding child custody. Some parents are more attached to children than others, depending on various factors at home. Many parents do not want to part ways with their child because of the attachments they have developed over several years. When it comes down to property division overall, this process is far more important personally than other factors of divorce.
Research in psychology shows that people are less likely to give up concrete items, like a car or TV, than more impactful but abstract items, like retirement funds or stocks. This leads many people to give up those abstract items that can affect their finances more than the physical items they own. Finding a second opinion can help deter this. Lawyers are trained on how to guide people to the decisions that would most benefit them and often have years of experience with property divisions.
Prenuptial and Postnuptial Agreements
There is an option that some people choose to take in a marriage which can help determine property division ahead of time. Prenuptial and postnuptial agreements can be made that decide on how property should be divided in the event of a divorce or death. The use of prenuptial agreements is increasing in the United States. These agreements are made before marriage.
Postnuptial agreements, which are also increasing in popularity, are created during the marriage. This type of agreement can be used to change a prenuptial agreement or create a postnuptial agreement from scratch. These agreements can be used to decide on house value, vehicles, and other types of property. Each of these agreements comes with certain requirements. Talk to a lawyer for further guidance.
Oklahoma Family Lawyer
Figuring out how your properties should be divided up before, during, or after a marriage can be a daunting experience. Oklahoma Family Lawyers have years of experience with these types of legal decisions and can guide you in the right direction. It is a good idea to consult with a lawyer before making any serious decisions to ensure the deal is fair. Call the Putnam Law Office today at (405)-849-9149 for a consultation. Mr. Putnam is an Oklahoma City, OK attorney who is dedicated to his clients. We also accept cases concerning sexual harassment, personal injury claims, and DUIs.