If you are going through a divorce in Oklahoma, you are probably wondering what are the factors that determine division of assets. There are many different things the courts will take into consideration and focus on. This is what you should know:
Factors That Determine Division of Assets
If the two spouses are unable to reach an agreement as to how marital property will be divided, the issue will be settled in court. There are a variety of factors that the court will consider when distributing assets, and it is up to their discretion as to how the assets will be divided equitably.
The court will examine each spouse’s contributions to the marriage, along with the circumstances each will face after the divorce. Important factors that Oklahoma courts will consider include the length of the marriage, health and age of the respective spouses, earning potential, and any prenuptial agreements.
Download Our FREE Divorce Guide
Factors That Determine Division of Assets
Division of property can go in any direction, with many variables. For instance, if one spouse has a lower income than the other, the courts may award more marital property in their favor due to financial circumstances. On the other hand, it could be determined that the lower-income spouse “earned” less of the marital property. Ultimately, the courts will base their ruling off what is fair, or equitable, and divide the assets accordingly.
To make sure that you are receiving fair compensation for your divorce, you will need an experienced Stillwater division of assets lawyer to compile evidence and act as your personal advocate.
Because the laws surrounding division of marital assets in Oklahoma can be difficult to understand, it will be hard to come up with an agreeable solution without the assistance of an outside party. Reaching out to an experienced Stillwater division of assets lawyer with a proven track record of cooperation and reaching peaceful settlements is your best bet to sort out any intricacies and questions you might have. Please contact our offices today for a free consultation.