When people in Oklahoma decide to divorce, they are often aware that the financial effects of the separation will be significant. After all, major assets like the family home or retirement funds will need to be divided. However, the financial aspects of divorce can move beyond the direct effects of property division. Many people may not consider their credit as part of a divorce, but it can be a significant issue. If a spouse does not take action to protect their credit scores, they may witness serious damage during a divorce.
When people get divorced, there may be a series of events that need to take place after their marriages officially end. For instance, it may be necessary for Oklahoma residents and others to change the name that is displayed on official documents. These documents may include a credit card, bank statement or driver's license. It is also a good idea to change beneficiary designations on retirement accounts and other assets that currently have them.
Divorce attorneys in Oklahoma are used to cases involving different types of assets in the martial estate, from real estate and small businesses to retirement accounts and mutual funds. But a new type of asset presents unique problems in dividing martial assets: Cryptocurrency has a unique set of challenges.
Many Oklahomans may be part of the rising trend of grey divorces, aka splits that involve spouses over age 50. According to research, the overall rate of divorce in the United States has steadily declined over the last two decades. However, the rate for gray divorces has increased during the same time.
People in Oklahoma should take steps to improve the likelihood that their divorce will go relatively smoothly throughout the stages of filing, discovery and disposition. Although some issues cannot be resolved without going into litigation, other divorces can be settled with mediation or a collaborative divorce. Preparation should help with any of these outcomes.
As any married couple in Oklahoma knows, maintaining a marriage is hard work. It requires patience; compromise; and, occasionally, sacrifice. That being said, it is also worth it in the long run, especially if the married couple makes each other happy. However, in order to keep a marriage going, individuals need to know the main elements that lead to the deterioration of a marriage as well as how to best handle them.
Some couples in Oklahoma don't give all that much thought to the "in sickness and in health" part of traditional wedding vows. After all, not too many spouses mind occasionally having to pamper or tend to a mate who's a bit under the weather. However, when a serious illness occurs, it can sometimes place a major strain on a marital relationship. Specifically, it's women with health problems who are more likely to experience the end of a marriage than men.
Oklahoma couples who are in the process of getting divorced should remember not to make mistakes when it comes to keeping or selling their homes. Many couples put off selling their houses and end up facing legal headaches as a result.
It's no secret that financial issues can lead to the end of a marriage for Oklahoma couples. One survey found that nearly 60 percent of respondents say financial problems "somewhat" contributed to the end of their marriage, and 20 percent cited money-related matters as a "big" reason for their divorce. This is why an online dating coach urges couples not to walk down the aisle without discussing spending, saving and other financial issues.
Some couples preparing to tie the knot in Oklahoma are still under the assumption that a prenuptial agreement is only something for celebrities and wealthy individuals. In reality, prenups are simply an agreement between two parties stating how assets will be divided if a divorce occurs. Without such an agreement, property and asset division post-divorce is governed by the state. Some states require a 50/50 split, while others go by equitable distribution - division based on what each individual earned or acquired during the marriage.