Ottawa County Divorce Lawyer

When spouses own businesses, have significant investments, or substantial retirement accounts, divorces can become quite complex. Let an Ottawa County divorce lawyer assist you with Oklahoma divorce law and your financial and parental rights and obligations when your marriage ends. In Miami, Commerce, and other Ottawa County communities, divorcing spouses may disagree on various issues. Bundy can help.

About Bundy

Bundy is a family law trial practice serving clients in Oklahoma, Arkansas, and Missouri. We work with clients who have complex divorce issues involving ownership of businesses or professional practices, trusts, or other high-net-worth divorces. At Bundy, two of our four partners hold board certification in family law trials from the National Board of Trial Advocacy. At the same time, the other two are fellows of the American Academy of Matrimonial Lawyers.

Additionally, Aaron Bundy is a fellow of the International Academy of Family Lawyers. Our commitment at Bundy involves thorough preparation for every case, as though it were headed to trial, by means of efficient case handling, integrated financial investigation, and meticulous trial planning.

Understanding Divorce Laws in Ottawa County

Oklahoma permits couples to file divorce petitions based on fault or no-fault grounds. According to 43 O. S. § 101, incompatibility is listed as Oklahoma’s main no-fault ground. Divorce cases for Ottawa County residents likely take place in Ottawa County District Court with its downtown Miami location at 102 East Central Avenue, Miami, OK 74354.

Like other states, Oklahoma requires at least one of the spouses to live in the state for a minimum amount of time. Under most circumstances, the Oklahoma divorce filing must occur while one spouse has been a resident of the state for the previous six-month period, with few exceptions.

According to Census Reporter, in Ottawa County, 12% of males and 15% of females are divorced. Statewide, the CDC reports a divorce rate of 3.3 per 1,000 residents.

Dividing Property in an Ottawa County Divorce

According to 43 O.S. § 121, courts in Oklahoma divide marital property equitably upon divorce. Courts try to make property divisions that are fair and reasonable, but not necessarily equal. Determining marital and separate property can be highly contested when spouses own separate property that increased in value during marriage or used marital assets to pay the expenses of separately owned property.

During the divorce proceedings, the court may look at financial documents, valuation professionals, and evidence of each spouse’s efforts.

Business Valuation

It’s likely that some of your combined possessions won’t show up clearly on tax forms or in bank statements. Businesses can have substantial value in equipment, receivables, intellectual property, or goodwill that may need to be calculated. When valuing a business, it’s often necessary to differentiate between goodwill that’s unique to the owner and value that could transfer to a new entity. Some examples of assets that may require professional analysis include:

• Stock options
• Deferred compensation
• Restricted stock
• Partnership interests

Commingling funds and/or marital contribution to the value of the property can create a dispute as to ownership.

Child Custody and Support

When children are involved in a divorce, Oklahoma courts decide custody matters with the child’s welfare as the top priority. Parenting plans can be customized to the needs of your family and can outline time spent in each residence, education decisions, parental decision-making, and more. Child support is typically calculated by taking both parents’ incomes, subtracting any allowable deductions, and following the child support guidelines.

When to Hire a Divorce Lawyer

You should hire a divorce lawyer if you know you have complicated property to divide. Agreeing to a monetary settlement prematurely could lead to realizing you were entitled to more, or liable for less.

An Ottawa County divorce attorney can request financial disclosure from your spouse, help facilitate a forensic accounting analysis, review business valuation reports, and help identify all potential assets for division. Your attorney can review proposed settlement agreements for tax consequences and work through issues involving undisclosed income and disputed ownership. If your case cannot be settled, your attorney can represent you in court.

FAQs

How Do I Prepare for Divorce?

To begin preparing for divorce, you may want to collect all previous tax returns, bank account records, retirement account statements, and deeds to any real property. If you own a business, gather all financial records and documentation showing ownership.

Parents of minor children should take inventory of current parenting schedules and determine if any changes are necessary. Compile documentation of household bills and debts, and try to identify any property that is only in your name.

What Should I Not Do Before a Divorce?

Before divorce, do not transfer any assets in an attempt to hide them from your spouse. Avoid destroying financial documents or important records related to your marriage. Be mindful of the tax and legal consequences before making any large purchases or closing joint accounts. Finally, do not take your children away from the other parent if there is an existing parenting agreement in place.

Can I Divorce My Spouse Without Their Consent in Oklahoma?

Yes, you can divorce your spouse without their consent in Oklahoma. Your spouse can file against you for divorce based on incompatibility or another acceptable cause. The petitioner must still follow all residency and filing requirements. If your spouse is unwilling to participate in the divorce, the court can grant your divorce after you properly serve your spouse and follow all Oklahoma Rules of Civil Procedure requirements for default judgments.

What Happens to Our Family Business After Divorce?

The family business may be divided during divorce if it is considered marital property or has marital property interests that can be divided. In analyzing this issue, courts look at when the business was started, how it was funded, and whether the value of the business increased during the marriage. In some situations, the court may award the family business to one spouse and give the other spouse an equal share of the marital property.

Contact Bundy Today

If you are going through a divorce, Bundy can help you advocate for your rights and future. Contact us today to get started.