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Property division and retirement funds during divorce

Oklahoma couples who decide to divorce often face long-term financial consequences that far outstrip the emotional and practical changes that accompany a separation. One of the most significant changes that can come with the end of a marriage is the division of retirement funds that have been accumulated over years. The aftermath of divorce can leave both partners with significantly fewer assets, especially as it costs more to fund two single retirements than one as a married couple. As a result, many people work intensively to save and rebuild their retirement accounts after divorce. Unfortunately, this is often hindered by the complexities created by mandatory caps on annual contributions to qualified retirement plans.

For many, the division of retirement funds can come as a particular shock. While other major assets, like a house or bank account, are held jointly, retirement funds are generally in one individual's name and accumulated at one person's place of work. In addition, the financial aspects can be significant. In some cases, a retirement fund may be split in half or some other division may be chosen, depending on the couple's history and agreements. In some cases, each person may simply leave the marriage with the retirement account that's in his or her own name.

Staying financially afloat following divorce

Even as the "dual-income, no kids," or DINK, mentality has grown over the last decade or so, there are still plenty of stay-at-home moms and dads in Tulsa who put their careers on hold to raise their children. Should those parents suddenly face divorce or separation, they naturally worry about how to re-enter the workforce and become financially self-sustaining.

The good news is that with a little foresight and diligence, staying financially afloat following divorce is possible. Consider the following tips:

Henry Goes To Harvard

The National College for DUI Defense held their intensive Summer Session Curriculum for DUI Defense Law at Harvard Law School's Austin Hall. College members represent the most experienced DUI defense attorneys in the country.  This year's featured presenter was Mr. Roger Dodd. Dodd is considered the nation's pre-eminent instructor on cross examination.  He teaches extensively across the United States, has authored several books on trial techniques as well as sustaining a thriving legal practice.

Getting a divorce? Know the laws in Oklahoma

If you're looking to get a divorce in Oklahoma, there are a few basic things you need to know. For example, the no-fault grounds for divorce in Oklahoma is incompatibility. Understanding that Oklahoma has unusual divorce laws compared to some other states will help you make better choices to protect yourself in the future.

Oklahoma does recognize faults leading to divorce too. Here are a few common questions and answers you should know:

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