Dividing Marital Assets in High Asset Divorce

Special Methods For Dealing With High Asset Value Divorce

Oklahoma divorce laws apply equally to individuals who do not have a penny to their names, as well as to multi-millionaires. The dissimilarity with the latter group is one of complexity. The numerous types of assets held by wealthy individuals give rise to a variety of right issues that cannot be sorted out without the assistance of an experienced divorce attorney.

Oil billionaire and Continental Resources chief executive Harold Hamm was recently in the news over his divorce from his wife of 26 years. Mr. Hamm has amassed a fortune the worth of which is estimated to be between $11.3 and $20 billion. At assure is the demand of how the marital property is to be divided between Mr. Hamm and his wife.

Okla. Stat., tit. 43, portion 101 gives twelve definite bases for divorce in Oklahoma, including the no-fault basis of disagreement. Often times when clients maintain that they have resolved issues relating to the divorce itself, there will be a multitude of other disagreements that must be addressed before the case can be closed. In particular, the questions of property division, alimony, and child abet all reach into play and are more often the focal point of serious conflict in high come by worth divorces. These types of divorces involve complex matters appealing identification and valuation of property that do not advance up as often with divorces spellbinding fewer assets.

On the utter of property division, Oklahoma is an “equitable distribution” plot. This tells you that the put a question to of dividing marital worship will not be decided by the rules of equity, but more with the goal of fairness. In the event that the divorcing couple fails to advance an agreement outside of divorce court the family law believe will settle based on equity. The process begins with sort out what are debts and assets of the marriage. Assets that were acquired as a result of marital industry during the marriage are considered marital property. Assets and debts that were owned or incurred separately by the parties prior to the marriage are not marital property, unless those assets increased during the marriage as a result of the efforts of one of the parties. The next step is to attach value to the assets. Finally, the court will divide the assets and debts equitably between the parties.

At articulate in the case of the Hamm divorce is whether Mr. Hamm acquired his oil fortune as a result of his gain blood, sweat, and tears, or whether he was the passive beneficiary of the increase in the ticket of vulgar oil. If the fortune was the result of active work on the fragment of Mr. Hamm, then the court would contemplate it fragment of the marital estate. If merely the result of passive appreciation of assets he possessed before the marriage, then it would be separate. Perhaps, the family court determines that the assets are a combination of both, but its not easy to determine what proportion is assigned to what.

The Hamm divorce is one example of the type of fair conundrums that arise during a high-net-worth divorce. Such couples usually have many different types of assets that are not liquid and therefore require valuation. Often prenuptial agreements are keen and need to be assessed as to enforceability. Occasionally one of the partners attempts to secret away assets; these must be highlighted.

A high-net-worth individual thinking about obtaining a divorce is best served by retaining competent Tulsa Divorce Attorneys early on. The discovery process can be long and complicated and usually involves the assistance of various types of professionals to identify and place value to the marital assets. The sooner a seasoned divorce lawyer is alive to, the more likely that your rights will be protected and the ruin result will be truly equitable. .Article Source: Sanger is a verbalize writer for divorce and family law firms in Tulsa, Oklahoma. He writes about the process of divorce and the division of marital assets. His writings also deal with child custody and attend. High asset divorces are often hotly contested. His writing provide insights to readers regarding the best scheme to near the division of property. divorceattorneystulsa.net/

Iranian Muslim Divorce in USA

The Family Law in Iran was codified in 1928 and 1935 as allotment of the Iranian Civil Code. The law region a suitable age requirement for marriage, prohibiting the marriage of girls under 13 and requiring court permission for the marriage of those under 15. In 1931, a separate legislation, known as the Marriage Law (qanun-I izdivaj) was enacted; it made marriage subject to station provisions and required the registration of all marriages and divorces in civil registrars. The law of 1931 expanded the grounds on which women could originate divorce proceedings and required such actions to be brought before civil courts rather than Islamic sharia courts.

In 1967, the Family Protection Law (qanun-I himaya-I khanivada) was enacted. This law was considered a departure from the weak Islamic sharia. It abolished the husband? s rights to extra-judicial divorce and polygamy, and increased the age of marriage to 15 for females and 18 for males. The law established special religious tribunals, headed by judges trained in new jurisprudence. This law was criticized by Muslim clergy, calling it un-Islamic, and was regarded in violation of Islamic shria principles.

In 1975, the Family Protection Law was replaced by another law carrying the same title. This law increased the minimum age of marriage from 15 to 18 for females and from 18 to 20 for males, and provided the courts with discretionary power to determine cases engaging child custody, disregarding Islamic sharia provisions.

Following the Iranian revolution or 1979 under Ayatollah Khomeini (1902-1989), the Family Protection Law was annulled and replaced by the Special Civil Court Act. The original law was entirely enacted in compliance with the Shiite law of ithnai Ashar (Twelvers), the courts are empowered to deal with a whole range of family issues, including divorce. According to the novel law, apt marriage for girls plummeted to nine; 15 for boys, and members of the Iranian society were strictly segregated along gender lines. Women were forced to keep hijab and were not allowed to appear in public with a man who was not a husband or a pronounce relation such as brother, father, or son. Women could be stoned to death for adultery, which incidentally, includes being raped. But the reformists under customary president, Khatami, allowed single women to eye abroad and raised the accurate age for marriage from nine to 13 for girls. However, a woman? s testimony in Iran is worth half that of a man in court and in the case of blood money that a murderer? s family is obliged to pay to the family of the victim, females are estimated at half the value of a male.

In mid 2007, the government of Ahmadi Najad began enforcing restrictive laws; women wearing too distinguished make-up and not enough scarf were arrested; they were first banned from attending the country? s approved soccer matches held in public stadiums, but later, under pressure, the president allowed women to wait on the games on the ground that their presence would be? morally uplifting? and execute the men behave better.

The current law requires marriage and divorce to be registered with the courts; the husband has unconditional honest to divorce his wife for which he needs not to give any reason and his wife is almost definite to lose custody of her children. The unusual law allows the wife to divorce her husband under khul?, and even then she would have to indicate to the court a power of attorney from the husband allowing her to divorce herself on behalf of her husband. A woman is allowed to behold divorce if her husband was insane, impotent or infertile, absent from home without reason, imprisoned, or unable to benefit his wife. A woman seeking divorce in Iran must provide the court with supporting evidence to collect a divorce decree.

Iranian Muslim couples faced with a divorce set in the United States, leer themselves in a dual process of having to go through civil as well as religious divorce, especially for a Muslim woman; she is prohibited by Islamic sharia from marrying a non-Muslim man unless he converts. Divorced Muslim men and women must accumulate an additional religious divorce decree from Muslim authorities should he or she decides to remarry in compliance with sharia; civil divorce alone is not recognized in Islam. Under Islamic sharia, a Muslim woman or man is peaceful considered married even though she or he has obtained a civil divorce. Failure to find an Islamic divorce before remarrying, the woman would be considered adulterous and might risk her life if she travels to a country where stoning for adultery is aloof in status, such as Pakistan, Iran, Sudan, and Saudi Arabia.

American Muslim men with Iranian passports may decide to go aid to Iran and net a swiftly track divorce in that country. They regain divorce decree by stating three times,? I divorce my wife? in the presence of two male witnesses, point to proof of the? mahr? payment, recount the divorce in Iran, authenticate the documents, return encourage to the U.S. and observe recognition of the Iranian divorce in a situation court. Divorce obtained in Iran is less expensive to the husband; women accept the amount of? mahr? as stipulated in the marriage contract, usually less than what a U.S court may rule on, and the divorce is obtained in a short time, without having to hire an attorney. Islamic divorce does not allow women to receive compensation other than the amount of? mahr? she and her family agreed upon before her marriage.

site courts in the U.S. deal with Islamic divorce obtained overseas on the basis of? comity?, a discretionary doctrine that governs the recognition of divorce rendered by the courts of a foreign country. Although occasionally, courts in England and the United States expend the term? international comity? in the meaning of general international law, the more common notion of this doctrine defines it as rules of courtesy or goodwill which states eye in their mutual relations without any sense of fair obligations under international law. The desire for a Muslim man to accept divorce from Iran and have it recognized and enforced in the United States, is generally entitled to recognition if it was top-notch and effective in Iran, and that Iran was the location or domicile of both parties or at least one party. In other cases, recognition in the United States of a divorce obtained in Iran will depend on the draw the divorce was obtained by mail, by default, by phone, or upon the appearance of both parties. A divorce obtained in Iran should not violate U.S. public policy and cannot be? unpleasant? to major principles of U.S. law. station courts have the sole competent to search for or to content recognition of a divorce decree obtained in Iran.

Although divorce recognition within the United States is dependent on the notion of domicile, an Iranian divorce may be recognized where both parties appear in the action, even in the absence of domicile. In novel Hampshire, a Muslim husband secured a Lebanese divorce, based on Islamic sharia by declaring that he pronounced the divorce of his wife by saying three times? I divorce you? in her presence and by going to Lebanon to consult an attorney and stamp divorce papers. The unique Hampshire family court refused to glance the Lebanese ex parte divorce. The court reasoned that the wife would be forced to fill the burdensome cost of an ex parte divorce obtained in a foreign nation where neither party is domiciled.

DISCLAIMER: While every pain has been made to ensure the accuracy of this publication, it is not intended to provide moral advice as individual situations will differ and should be discussed with an expert and/or lawyer. For specific technical or fair advice on the information provided and related topics, please contact the author.

An authorization to republish this article is hereby granted by the author provided that author? s name is attached to the article.Article Source: Sawma is a lawyer with Middle East background. Professor of Middle East Constitutional Law, Islamic sharia, and Islamic economics. Expert consultant on Islamic divorce in U.S. courts; editor in chief of International Law blog, Lecturer on Islamic economics, Author of? The Aramaic Language of the Qur? an, Email: [email protected]; Tel. (609) 915-2237.

League City Attorney

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