Tulsa Property Division Attorney

Tulsa Property Division Lawyer

No matter the circumstances surrounding your divorce, the experience can be challenging and stressful. Emotions can run rampant, even if you and your spouse are committed to keeping things amicable. When it comes to property division, complications can ensue, causing anxiety and worry over who will receive what. Contention may arise, which is why it can prove crucial to hire a Tulsa property division attorney who can guide you through the process.

You may find yourself concerned about who will keep the marital home, especially if there are minor children involved. You and your spouse might also be considered “high earning,” and arguments might arise over asset and debt division. At other times, a spouse might try to hide assets during the division process. Regardless of the situation, you need an asset lawyer on your side who can explain your rights and help you make the right decision to move forward.

How Are Property and Assets Divided in a Tulsa, OK, Divorce?

Most divorcing couples at first assume that the courts will simply split all assets and property right down the middle in a divorce case. However, this is not always the case in the state of Oklahoma. Oklahoma is considered an equitable division state, meaning that the courts won’t necessarily guarantee an equal, 50/50 split. While some cases may arrive at this conclusion, the primary goal of the courts is to ensure an equitable split of all assets and property.

When dividing up the marital assets of a divorcing couple, the courts take many factors into consideration. These factors may include:

• The duration of the marriage
• The health of each spouse
• Any child support or child custody obligations of each spouse
• The monetary value of the separate property owned by each spouse
• The contributions of both spouses to and during the marriage
• The earning potential of each spouse
• The employability of each spouse

How a Tulsa Property Division Attorney From Stange Law Firm Can Help

Since 2007, Stange Law Firm has been helping clients across numerous states. We understand the difficulty faced by spouses experiencing divorce and know the value of having a competent and trustworthy family law attorney on your side. If a fair settlement cannot be reached outside of the courts, know that we have what it takes to fight aggressively for your rights and your voice to be heard and acknowledged.

Common Types of Assets in Tulsa Divorce Cases

In the state of Oklahoma, assets tend to be classified in two main ways: either marital assets or separate assets. Understanding these two categories and how they might apply to your case is vital to pursuing a positive outcome during your divorce proceeding.

Marital assets refer to any assets obtained during the marriage by either one or both spouses. These assets are, therefore, eligible for fair and equitable distribution. Assets that might qualify can include:

• Real Estate: This can include the family home, rental properties, vacation properties, or vacant land.
• Personal Property: This can include furniture, electronics, vehicles, appliances, or other tangible and physical items that were acquired during the marriage.
• Financial Assets: This can include bank or retirement accounts, bonds, stocks, or any mutual funds that were obtained during the marriage.
• Business Assets: This can include any ownership stakes in a business, professional practices, or partnerships that came about during the marriage.
• Personal Injury Compensation: This includes any monetary award gained from a personal injury case that occurred during the marriage, except compensation awarded for pain and suffering.
• Debt: Such as credit card debt, tax debt, or unpaid loans.

The second category of assets is separate assets. These generally include:

• Inheritance or Gifts: Any assets that were obtained by one spouse due to an inheritance or gift by a third party during the marriage are considered separate.
• Assets That Were Owned Before the Marriage: This includes any property or assets that were gained by either spouse before they entered the marriage.
• Pain and Suffering Compensation: Any compensation received in a personal injury claim for pain and suffering is considered separate from the marriage.

What Are the Twelve Grounds for Divorce in Oklahoma?

In the state of Oklahoma, there are twelve different grounds for divorce. A divorce can be granted by the courts for at least one of the following reasons:

• Abandonment without support for at least one year.
• Adultery, especially when the spouse who committed it introduced children to the other person or spent marital assets on them.
• Impotence, or one spouse’s inability to engage in sexual activity.
• Pregnancy from someone other than the husband.
• Insanity or one spouse has been institutionalized for at least five years.
• Extreme cruelty, or the cruel treatment of one spouse by the other in physical and mental ways.
• Habitual drunkenness or drug use.
• Imprisonment of one spouse in state or federal prison.
• Fraud.
• Incompatibility.
• Neglect of duty.
• Procurement of a final divorce decree.

Potential Complications of Asset Division in a Divorce in Tulsa, OK

In almost all divorce cases, there are bound to be complications. When it comes to dividing assets in Tulsa, OK, these complications might arise due to one or both spouses hiding assets, one or both spouses having an emotional attachment to certain assets, or the allocation of any debt that was incurred during the marriage. Understanding and maneuvering through these complications can be less stressful with the support of a trusted Tulsa property division attorney.