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Property Division In Divorce

Division of assets is an essential component of every divorce. Arriving at a fair, reasonable division of assets that a family law judge will accept is sometimes straightforward and sometimes complex. Any number of unique factors might make your divorce fall in the "complex" category. However, you and your spouse can save a great deal in legal fees by negotiating calmly and fairly. Sometimes mediation is the best way to reach a settlement agreement that both can live with, without taking battles to court.

Divorce Planning And Preparation — Talk To An Attorney Early In The Divorce Process

I am a former educator with a great deal of experience making complex subject matter understandable. If divorce is still down the road but you suspect it is inevitable, I can advise you on prudent divorce planning techniques, including taking inventory of your assets such as:

  • Bank accounts
  • The marital home
  • Any other real estate in either or both of your names
  • Cars
  • Boats and other recreational equipment
  • Jewelry
  • Collectibles, such as guns, musical instruments or fine art collections
  • Household goods
  • Stocks and bonds
  • Retirement accounts
  • Anticipated bonuses and commissions
  • Expected proceeds from a lawsuit
  • Whole life insurance policies

If you entrust your divorce to my law firm, I will begin by helping you categorize all assets in the marriage as separate property or marital property.

  • Generally, whatever was yours before the marriage should still be yours as assets are divided. (There are always exceptions, such as when one spouse helped improve property previously owned by the other before marriage.)
  • Also generally speaking, property that two spouses acquired during a marriage tend to be split 50-50. (There may also be reasons to deviate from an equal division.)

There is often some sticky point to resolve that makes property division in divorce more challenging than originally expected. For example, retirement accounts, including pensions and 401(k) accounts, are often difficult to deal with. In most cases, unless a prenuptial agreement says otherwise, retirement assets acquired during a marriage should be split between the divorcing spouses. Perhaps you are grappling with a business that one or both of you own and operate or inherited vacation real estate. I can help you streamline the process of reaching a resolution in asset division and getting on with your divorce and beyond.

Some couples already agree on all terms of divorce and wish for help crafting their own divorce settlement. I can help keep the process simple in cases where the facts really are straightforward.

To schedule a free initial consultation with an honest, reputable Oklahoma City divorce lawyer, call or email the Wimberly Law Firm, P.L.L.C. .

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