On behalf of Stange Law Firm, PC posted in divorce on Wednesday, December 4, 2019.
Divorce has been depicted by the entertainment industry for years as a long, drawn out and contentious process as depicted in the 1989 movie “The War of the Roses.” In recent years, divorce, even among the wealthy and famous, has occasionally been a more civilized affair. In addition to being more civilized, divorces are frequently not as drawn out in Oklahoma. As such, when children are involved, the impact on them may be less traumatic.
One of the most publicized recent divorces was the Jeff Bezos case. While the amount of money and assets was considerable, the divorce itself was completed in only 120 days, and the split appeared to be amicable. A quick settlement is advantageous in reducing legal costs and can also allow a family to more quickly arrive at a new normal. However, desire for a quick settlement should not distract one from the important issues to be settled. Not least of these is asset distribution.
Divorce among those nearing retirement age is on the increase. Financial settlements become more complex as significant earning years may be over and the amassed assets accumulated, while not on a par with Jeff Bezos, may be significant. Reaching a fair and equitable settlement may be complex and needs to be carefully considered in regards to tax implications and future financial needs.
An amicable divorce, if possible, is preferable on many levels in Oklahoma. If children are involved, parents typically have their best interests in mind. It is well known that a continued relationship with both parents is in the best interest of the children. Reaching an amicable settlement that includes an agreement on asset distribution can result in a positive outcome for both parties.