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Oklahoma Family Law

Property Division

Navigating the Complexities of Property Division in Divorce

Property division is one of the most critical and time-consuming aspects of a divorce. At the Evan Taylor Law Office, we understand that dividing your assets and debts can be a daunting task, often fraught with contention. Our goal is to guide you through this complex process with clarity and support, ensuring that your interests are protected every step of the way.

Identifying and Valuing Assets and Debts

The first step in property division is to identify what you own and what you owe. This includes all assets such as real estate, vehicles, bank accounts, retirement accounts, investments, and personal belongings. Equally important is identifying any debts, such as mortgages, credit card debts, loans, and other financial obligations. Accurately identifying and valuing these assets and debts is crucial in reaching a fair division.

Assigning Value – A Common Source of Contention

Assigning a value to each asset and debt can be one of the most contentious parts of the property division process. Differences in opinions on the value of property, particularly real estate or personal items, can lead to disputes. At our firm, we work diligently to provide a realistic and fair assessment of all assets and debts, aiming to minimize conflict and reach an agreeable resolution.

Fair and Just Division – Not Necessarily Equal

In Oklahoma, the goal of a divorce judge is to divide the property in a way that is fair and just. This does not necessarily mean a 50/50 split. The court considers various factors to determine what is fair, starting with an equal division but adjusting based on each party’s circumstances. Factors may include the length of the marriage, the contribution of each party to the marital estate, the economic circumstances of each spouse, and any agreements made between the parties.

Experienced Guidance Through Every Step

At the Evan Taylor Law Office, we have extensive experience in handling property division in divorce cases. Our approach is thorough and strategic, ensuring that all aspects of your financial situation are considered. We provide honest, straightforward advice to help you make informed decisions and work tirelessly to achieve a fair outcome.

Frequently Asked Questions

If you and your spouse own your own home, have employment based-retirement accounts, own a family business or have property of any value together, you should be interested in how the court will divide your property during your divorce.

How does the judge divide my property in a divorce?

However the judges wants to. The judge is supposed to divide your marital property “fairly and equitably” according to Oklahoma law. Although, the law does not say the judge has to do it equally, but most judges split the property 50/50.

Will I have to sell my house in the divorce?

Not necessarily. This can be a very case specific question. There are many ways to handle division of a house in a divorce, and it depends on the particular circumstances of your case. Talk to a lawyer about it if you want to know the answer in your situation.

Will the judge divide my retirement if we have not been married for 10 years in my divorce?

Maybe. There is no rule that prevents a judge from dividing a retirement based on the length of the marriage. Whether you are married two weeks or 30 years, the judge can divide any property that you acquired during your marriage. There are some federal laws that relate to some government retirement accounts that prevent direct payments from the retirement administrator to the ex-spouse if the marriage is shorter than 10 years, but this does not affect the ability of the judge to divide the retirement account.