Processing Property Division during a Divorce
No matter how much you are done with your relationship, it is always difficult for the couple to go through a divorce. It is applicable to the general people and the celebrities as well. Not only the splitting from each other is the only thing, but the other processes are also quite complicated. The properties of the couple are considered as joined after marriage. And at the time of divorce, the splitting of the properties takes place. The divorce lawyers in OKC recommend the prenuptial agreement for avoiding the problems with assets at the time of divorce.
The prenuptial agreement allows the couple to evade the divorce law and avoid the property division requirements. Generally, the law is about to divide the assets into equal halves. But for the prenuptial agreement, the couples can talk over the matter ahead of time to be assured during the course of the divorce.
Point to Be Noted!
Despite having a valid prenuptial agreement the court is entitled to monitor the process of property division. The judge will process an investigation to be sure that no spouse is unfairly benefitted with the division. The terms of a prenuptial agreement is upheld unless there is prominent evidence of misconduct.
The Division Process
It is imperative to give the spouses time to discuss and negotiate on the property division. After they come to a mutual point and agreed to share the assets equally, the division can be processed. The assets include the individual properties as well. Here they have to:
1. Ensure all sources of income, royalties, property ownership, retirement benefits, vehicles, stocks and anything of similar value.
2. Each of the assets should be tagged in term of value.
After the assets are valued and identified, they have to follow some more steps to start the allocation and division process. In OKC, their divorce lawyers can help them out with the process details.
1. They have the option to sell their assets and divide the profit. This is difficult for some assets though, but in most of the cases, it works fine.
2. The selling is not an option if a spouse wants to have sole ownership on an asset. Here the other spouse can choose multiple other items in order to get the same valued asset like the other.
3. Not only are the assets, but the debts also having a role in it. In exchange of a larger property, one spouse can take a share of the debts.
This is the information in a nutshell, but there is lot more. You can contact the divorce lawyers in OKC to learn the process details. Contact us at Mazaheri Law Firm so that the divorce would not be regretful for you.