What is a High Net Worth Divorce in Oklahoma?
Divorces are always fraught affairs, with emotions on both sides running high. But they’re especially perilous when one or both parties hold a significant portion of wealth, particularly when one party earned the lion’s share of the wealth during the marriage. When one or both of the parties hold liquid assets in excess of one million dollars, this is what is known as a high net-worth divorce.
In most divorce proceedings, post-marriage assets are divided up 50-50 between the two parties. However, divorces in Oklahoma are different. Oklahoma follows what is known as “equitable distribution.” This means it aims for not strict equality in the distribution of assets, but whatever is deemed most “fair” by the court. Oftentimes this effectively means that one side will end up walking away with a large share of wealth they had no hand in generating.
The wealth you spent years building – much of which you intended to use to support your children – hangs on the arbitrary whim of a family court judge. In a world where the law is often stacked against fathers, it is imperative you hire a skilled fathers’ rights divorce attorney to protect your interests and your children’s future.
What Kinds of Property Are Subject to a High Net Worth Divorce?
During a high asset divorce proceeding, experts may be employed to examine the following sources of wealth:
- Multiple sources of income
- Any real estate holdings (including houses, boats, vacation homes, or rental properties)
- Retirement accounts
- Professional licenses
The purpose is to establish whether any of the property is considered shared, “marital property.” They also, however, assess the enforceability of prenuptial agreements – that’s right, not all prenups are valid.
The Importance of Prenuptial Agreements in Oklahoma
Unlike other states, prenuptial agreements are generally considered enforceable in Oklahoma – provided they follow certain guidelines:
- The agreement is considered reasonable and fair
- Both parties entered into the agreement voluntarily and without duress
- Each side fully declared their assets and liabilities
- Both spouses have a generally accurate understanding of the other’s finances
- The terms of the agreement do not promote divorce
Having a valid prenuptial agreement in Oklahoma can simplify your high asset divorce, saving you stress and giving you peace of mind. If you have questions about how your prenup will impact your high net-worth divorce proceedings, a qualified family law attorney in Oklahoma can help.
Low-cost Strategy Session with a Tulsa High Asset Divorce Lawyer for Men
If you are facing a high net-worth divorce, you and your children’s financial security hangs in the balance. The single most important step you can take to protect that future is to hire a high asset divorce attorney in Oklahoma. You can call (918) 986-7724 or fill out the Contact Us form on the top-right of the page.
