A marital settlement agreement in Oklahoma is a preferred way to conclude a divorce because it allows both spouses to have a say in the final outcome of the case. It also tends to take less time and be less expensive.
However, some spouses feel like they did not get a fair share of assets or the visitation agreement that they wanted. Because a marital settlement agreement is not appealable, it is important that you feel satisfied with the final terms of the agreement.
The main elements in a marital settlement agreement include child custody, child support and expenses, alimony, and division of assets and debts. We provide issues to consider and how to reach a fair agreement with your spouse.
Child Custody
Both you and your spouse will go from full-time parents to part-time. It is going to be very difficult for both of you to adjust to and learn to live with. Remember, you want to have your children just as much as your spouse does, but it is important that both parents have a relationship with their children. It’s hard to weigh the desire to have your children all the time and the desire for them to have a relationship with the other parent.
Because there are few laws on this matter, custody will be determined by you and your spouse, with help from both of your attorneys. When making this determination in your marital settlement agreement, do what’s best for your children, try to set your feelings aside, and do not react in anger.
Child Support and Expenses
If you and your spouse cannot come to an agreement on child support in your marital settlement agreement, the court will order child support for you using state guidelines. Remember, child support is for the benefit of your child — if you withhold support from your spouse, you are withholding it from your children.
Think about the kinds of toys, vacations and activities they had when you and your spouse were still together. By trying to maintain what your children had during the marriage, you have a starting point on what support will look like. Maintaining that continuity will help your children adjust and cope with the divorce as well. Memorializing this agreement in your marital settlement agreement is important so the expectations and guidelines are well outlined.
Alimony
Alimony is a difficult amount to determine for most divorce attorneys and family court judges. Many of the guideline amounts tend to be arbitrary and end up not serving the purpose of alimony. Both of you should review your resources, needs and abilities. These will help your divorce attorney better understand what financial needs each spouse requires in the marital settlement agreement.
Your divorce attorney will prepare documents that are referred to as financial disclosures. Your divorce attorney will provide these to your spouse and their attorney. Your spouse’s attorney will also provide these disclosures to your divorce attorney. This allows both of you to see each other’s list of specific assets and debts. Knowing specific assets and debts is crucial in determining who receives alimony and an approximate amount that is agreeable by both spouses.
Division of Debts and Assets
Dividing possessions in your marital settlement agreement, especially those that both spouses have lived with for a long time, can be difficult. What was once both of yours will become the property of just one spouse. There are going to be items that both you and your spouse would like, and this is where your divorce attorney will help the most.
It may seem like the silver collection or fine art pieces are worth going to court for to make sure the items are distributed to you. However, the time, money and unpredictability of family law judges are major reasons why creating a marital settlement agreement of your division of assets and debts is important.
When you take the decision of dividing assets away from you and your spouse, you place yourself and your assets in an unpredictable position. Although the law may be on your side, family law judges in Oklahoma are only required to divide assets and debts in a “fair and equitable” way, not an equal division. Working with your divorce attorney and your spouse’s will ensure both of you are content with your decisions in your marital settlement agreement.
It is important to remember that you will have to give up some items in order to receive items that are higher on your list. Consider your priorities before disagreeing or threatening to go to court over a specific item. You may need to call experts in to identify values, provide appraisals, or to assist in re-financing.
Free Consultation with a Tulsa Divorce Attorney
Following the above tips will lead to a more peaceful and productive marital settlement agreement process. Consulting with an attorney as soon as possible in a divorce case is very important in order to preserve your rights and make sure terms of your marital settlement agreement is fair.
An attorney can help you remain cooperative and reasonable during the entire divorce process. A divorce attorney also can act as your advocate in the case of a difficult opposing spouse.
Hiring a knowledgeable and compassionate family law attorney will ensure the process is expertly conducted and your interests are well represented in your marital settlement agreement.
Contact an experienced Tulsa family law attorney when you need to go through the Oklahoma divorce process.
For a free confidential consultation, call now: 918-924-5526.
