Understanding The Equitable Division Of Marital Assets
One of the aspects of a divorce that needs to be addressed is property division. Whether you have many assets or few, you are entitled to your share of what was obtained during the course of the marriage.
When you need to protect your assets, get help from an experienced attorney at Talley, Turner, Stice & Bertman. From our office in Norman, we provide guidance and tailored representation to divorcing clients throughout the Oklahoma City metro area. Our attorneys have a wealth of experience handling all types of divorce and property division cases and are here to advocate for you.
How Is Property Divided?
Throughout the country, some states’ property division processes are governed by the law of equitable distribution, while others are community property states. It is important to note that Oklahoma is the former, which means your property is not divided in an even 50-50 split.
Once the totality of the couple’s assets, property and debts are determined, they are divided equitably and fairly. The courts will review all of the documents, plus other criteria factored into the divorce (such as the age of the parties, income earned throughout the marriage, etc.), and make a determination on who gets what.
What Is Subject To Division During Divorce?
There are many different types of assets that may be split in the divorce property division process, such as:
- Primary homes
- Vacation homes and other properties
- Undeveloped real estate
- Personal property such as cars and jewelry
- Bank accounts
- Retirement accounts, IRAs and other investment accounts
- Stocks and bonds
- Employee benefits and retirement benefits
Since there are so many assets that may be divided, it is crucial that you have a lawyer on your side who can aggressively protect your rights and who will fight for you.
Get Answers To Your Property Division Questions
You are not alone at any stage of the divorce process. Our firm is here to help. To get in touch with us, call our legal team at 405-467-2858 or complete our online contact form. We offer a no-obligation consultation so you can understand your options before making a decision