Division of Property & Debt
The division of property and debt can be one of the most challenging aspects in a divorce case. Often the parties have spent years or decades accumulating real property and personal property.
Oklahoma law requires that marital assets (property, both real and personal) and debts be equitably divided amongst the parties. An equitable division often does not mean equal division. At Parrish Law Group we are experienced in assisting our clients identify separate/marital property and debts.
When thinking about marital property and debts, some obvious things come to mind, for example: real estate, shared checking and savings accounts, items of personal property (such as vehicles, household furniture, tools and clothing), credit card debt, medical debt, and student loan debt.
However, property division is much more complex than simply identifying these issues. In addition to the above, at Parrish Law Group we assist our clients in identifying retirement accounts, business bank accounts, safe deposit boxes, determining the value of businesses.
After correctly identifying marital assets and debts, we work directly with our clients to formulate a plan to equitably divide marital assets and debts.