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How is property divided in an Oklahoma divorce?

The division of property is typically one of the most important steps of Oklahoma divorce cases. In our last post, we discussed what typically happens to the family home during divorce, but in this post we want to address how property division works more generally.

Oklahoma is an equitable distribution state, which means that marital property is divided fairly and equitably -- but not necessarily equally -- during a divorce.

One of the first issues that needs to be addressed is determining which property is marital, and subject to division, and which property is separate, and not subject to division. 

Generally speaking, marital property is property that was earned or generated during the marriage. On the other hand, separate property is property that one party owned prior to the marriage, or property that was left as an inheritance to one spouse only.

However, as the years’ long divorce of Harold Hamm, Oklahoma’s wealthiest resident, proves, it’s not always easy to draw the line between marital and separate property. Additionally, some property can be both marital and separate in nature.

Other issues that can complicate dividing property during a divorce include business holdings or a family business, military benefits, vacation properties, personal investments, and tax implications.

In less complicated divorce cases, it may be possible to reach an agreement on property division through negotiations or mediation, while more complex cases may require the court to intervene and ultimately rule on the matter.

What’s necessary in every case, though, is the skill and knowledge of an experienced family law attorney. There is no formula to decide exactly how property should be divided, which is why you need a skilled lawyer to stand up for your interests.

Whether you case involves few or many assets, you need an experienced family law attorney who will push to get you what you deserve so that your future is protected.

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