One of the most challenging aspects of a divorce is dividing up your property. After all, you’ve no doubt worked hard for what’s been accumulated during your marriage.
Our family lawyers in OKC will fight to ensure you leave the marriage with every penny you are entitled to under the law. At Naidu Law, Family law attorneys, we have more than 25 years of experience advocating for clients like you.
WHAT IS PROPERTY UNDER OKLAHOMA LAW?
Although you may think of land when you hear the word “property,” during a divorce, property refers to a wide range of items that you and your spouse accumulated during your marriage. Property includes:
- Real estate
- Retirement funds
- Business interests
- Financial accounts
Our divorce lawyers in Oklahoma City can assist you with determining what property you have accumulated under Oklahoma law.
Marital and Separate Property
When a couple divorces in Oklahoma, their property is divided into two categories: separate property and marital property.
Marital property is any property that was purchased, accumulated, or earned during the course of the marriage. Separate property is any property that one of you owned before the marriage, anything that was gifted to one of you (not both) during the marriage, anything that is inherited by one spouse, and any legal settlements directed to one spouse.
DIVIDING MARITAL PROPERTY
Oklahoma is an equitable distribution state. This means that rather than dividing marital property in a 50/50 split, the court decides what is reasonable based on your respective contributions to the marriage as well as your ability to support yourself after the marriage.
Debt is divided between the two spouses the same way. The court determines what debt is separate and what debt is marital, and then divides it between the two spouses.
Our family lawyers in OKC can help advocate for a division that benefits you. A fair marital property division will take several factors into account, including:
- You and your spouse’s ages and health
- Child-rearing responsibilities
- Earning potential
- The length of the marriage
- The amount of debt accumulated during the marriage
- Whether one of the spouses was at fault
- Whether alimony will be awarded
You and your spouse may be able to reach an agreement for dividing property on your own. If this is the case, you can present a signed written statement regarding your division of property. If you can’t come to an agreement, though, a judge (and your lawyers) will need to step in.
Our divorce attorney in OKC can help you present your case as to what property should be yours as you leave the marriage.
WE CAN HELP
Sorting through the division of property can be emotionally stressful and financially draining. We can assist you with your entire case, or we can step in to help with specific areas or filings. This is called unbundled/limited scope representation.
Our Oklahoma City family lawyers at Naidu Law, Family law attorneys are ready to fight for what is rightfully yours. Contact us today at 405-792-4000.