Property Division Attorneys Fighting For Fair Outcomes In Oklahoma City
Property division can be one of the most stressful aspects of a divorce, and the decisions you make can impact your life and finances long after the court finalizes your divorce. You deserve an experienced legal advocate to protect your interests during this process.
At Self Legal Group, our firm understands what you are going through and is ready to help you work toward a fair division of your assets. We have more than 100 years of combined experience, and divorcing people in the Oklahoma City area have trusted us to protect their interests since 1994.
Take the first step toward fair property division by calling us at 405-353-6387 or reaching out to our Oklahoma City team online.
What Is The Oklahoma Property Division Process?
The Oklahoma property division process facilitates the financial separation of divorcing spouses. Once you decide to divorce, you must divide your marital property and the responsibility for paying your marital debts with your spouse. Typically, the process follows a predictable flow:
- There is a discovery process to identify all assets
- Certain assets, such as real estate and businesses, may need to be valued
- Negotiations commence, with the goal of reaching a settlement
If you cannot reach an amicable arrangement, however, then you may need to litigate property division matters. This would mean putting the final decision about the disposition of the marital assets into the hands of a judge. A judge will then proceed to determine fair and reasonable ways to divide your marital estate, including jointly-owned assets and marital debts.
How Do Oklahoma Courts Divide Property?
In Oklahoma, when people get divorced, the courts divide a couple’s marital property using equitable distribution. Marital property includes things like money and debts that the couple got during the marriage. Separate property, like inherited property that one spouse owned before their wedding, usually stays with that person.
Fair division doesn’t always mean a 50/50 split. To determine what is fair for a couple, the court considers how long the marriage lasted, how each spouse contributed, their individual financial situations and any existing prenuptial agreements.
What Assets Might You Need To Divide During Divorce?
Dividing property can be one of the most challenging aspects of divorce because it can be both financially and emotionally complex. You may have valuable property or complex assets to consider. Property division may involve:
- Real estate: Real estate is often one of the most valuable things a couple owns, which often means it is a source of conflict during divorce.
- Financial accounts: Savings accounts, checking accounts and certificates of deposit are important parts of property division.
- Retirement accounts: Dividing retirement accounts, such as 401(k)s, IRAs and pensions, can have a significant impact on your finances in the future.
- Investment portfolios: It is important to consider both current value and potential future growth when dividing stocks, bonds and mutual funds.
- Businesses: Business interests need a thorough valuation to determine their worth.
- Personal property: This includes vehicles, jewelry, art collections and other personal items. These items may require appraisal to determine their value.
Identifying Separate And Marital Property
To fairly divide property in a divorce, it is first necessary to identify marital and separate assets. For the most part, any resources acquired during the marriage, including the income earned by both spouses and any assets purchased with that income, are marital property. However, there are some exceptions to that rule, meaning that you may be able to keep some assets out of the marital estate.
Oklahoma broadly recognizes four types of assets as separate property during divorce proceedings. The resources spouses can protect as their separate property include:
- Assets protected by a marital agreement
- Property owned before marriage
- Inheritances to one spouse alone
- Individual gifts from third parties such as family members or friends
Typically, the spouse claiming resources as their separate property must provide documentation validating that assertion.
Commingling can convert otherwise separate property into marital assets that are potentially subject to division during a divorce. It may involve adding a spouse to the ownership paperwork for valuable assets such as vehicles and real estate. Commingling could entail depositing financial resources into a joint account. The use of marital income to preserve or improve separate property could lead to commingling claims.
It is important to note that, while assets shown to be separate holdings are not subject to equitable distribution, judges can consider the extent of each spouse’s separate property when allocating marital resources.
If you need to protect assets as your separate property in a divorce or push back on your spouse’s claim that critical resources are their separate property, you need the insight of an experienced Oklahoma divorce lawyer.
Why Trust Self Legal Group When Dividing Your Marital Property?
Choosing Self Legal Group for your property division needs during a divorce can make a significant difference in achieving a positive outcome. Our firm has guided clients through property division since 1994, and we have over a century of combined experience. This depth of knowledge allows us to guide you through even the most complex aspects of your case with confidence.
We are committed to providing personalized attention, understanding that each divorce is unique. Our tailored legal solutions are designed to meet your specific needs, ensuring that you receive the care and support you need throughout the process.
Build A Strong Strategy For Property Division With Self Legal Group Today
The experienced team at Self Legal Group is ready to help you fight for fair outcomes during property division. Schedule a consultation by reaching out to our team online or calling us at 405-353-6387.