DivorceMag: Oklahoma FAQs

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If you RECEIVE spousal support,
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Frequently Asked Questions About Divorce

I have some cash I don't want to share with my spouse (that they don't know about) - can my lawyer help me keep that money from my spouse during our divorce?

Family Lawyer Thomas Kendall, answers: “Both parties will beexpected not to sell, dispose of or conceal assets. Failure to do so, could have severe civil and criminal consequence. This is pursuant to the Automatic Temporary Restraining Orders that commence at the start of the case. Furthermore, they will have to sign repeated disclosure statements under penalty of perjury. These statements require repeated disclosure of the cash currently on hand. In addition, they could be asked about cash at the trial or in a deposition.

The cashcould be spent prior to the case starting, but this is risky. If it is a nominal amount, I would not worry about it. Hiding cash from the other party is risky and dishonest. Lying about it is suicidal…”

"I am concerned that my income may be reduced significantly in a few months, and I am about to sign my divorce settlement. What can I do? I don't want to lock into a support payment that I cannot afford?"

Family lawyer, John Gilligan answers: "Unless there is an agreement to the contrary, child support is based upon a mathematical formula that is based upon your previous 12 months of income. However, if you anticipate a decrease, there should be a provision set forth in the Judgment, which requires the parties to exchange pay check stubs with the formula being recalculated..."

"I am not sure my attorney has a good handle on the financial aspects of my divorce. What are my options?"

CDFA and CFP Paul Toohey answers: "You have several options. You can seek the advice of friends, family, or business associates, but they may have little or no training or expertise in the subject. If you are concerned with tax related issues, you can consult with your Certified Public Accountant (CPA). You can also consult with your Certified Financial Planner (CFP) for financial advice. Input from either or both should be very beneficial in bringing you up to speed on your present financial condition. When it comes to divorce, however, neither professional may be trained in the specific issues which may come up, or in how to work with your attorney, mediator, or collaborative divorce team..."

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