Equitable Division of Marital Property in Oregon

When a couple divorces in Oregon, the process of dividing their marital property can become one of the most contentious aspects of the case, especially when assets and debts are extensive. From the family home to retirement accounts, every asset must be carefully considered and distributed fairly under Oregon law.

At Oregon Family Law (Paulsen Gilgan & Cottle), we understand the complexities of property division in divorce and are here to help you navigate the process smoothly. Whether you're dealing with hidden assets or a particularly contentious property dispute, we are committed to advocating for your rights.

What is Equitable Division of Marital Property in Oregon?

In Oregon, the law follows the principle of equitable distribution for dividing marital property. Unlike "community property" states, where assets are divided equally (50/50), Oregon courts aim to distribute property in a way that is fair (equitable) to both parties. This does not always mean a 50/50 split; rather, the court considers various factors to ensure an outcome that is just for both spouses.

While a 50/50 division is common, Oregon law allows for flexibility depending on the specifics of the marriage and the assets involved. The court may take into account factors such as the length of the marriage, the financial and non-financial contributions of each spouse, and any misconduct or wasteful use of marital assets.

What is Considered Marital Property in Oregon?

Marital property refers to assets and debts acquired by either or both spouses during the course of the marriage. This can include:

• Real Property: Homes, land, and other real estate
• Motor Vehicles: Cars, boats, RVs
• Personal Property: Jewelry, furniture, household items
• Financial Assets: Bank accounts, retirement accounts, stocks, bonds, and other investments
• Business Interests: Any business or share in a business accumulated during the marriage

Oregon courts typically consider anything acquired during the marriage, regardless of whose name is on the title, as marital property. However, separate property (such as property owned before the marriage, or an inheritance received during the marriage) is not usually subject to division in a divorce.

Debt Considerations in Oregon Divorces

Debt is also divided in an Oregon divorce. In most cases, debts incurred during the marriage are considered joint debts, regardless of whose name is on the account. This means that both spouses may be responsible for repaying debts like mortgages, credit cards, and loans.

However, like assets, some debts may be considered separate if they were incurred prior to the marriage or if one spouse can demonstrate that they are solely responsible for certain debts (such as debts from an individual business venture or from personal gambling). Student loans are also often not considered marital debt.

Common Challenges to the Equitable Division of Property in Oregon

There are a few common challenges that can arise during the division of marital property:

1. Hidden Assets: One spouse may attempt to hide or underreport assets to avoid sharing them in the divorce. This could include diverting funds, failing to disclose property, or manipulating the timing of income or bonuses. Oregon has penalties for parties who try to hide assets. Hidden assets can lead to a divorce judgment being re-opened and the hidden assets given entirely to the other party.
2. Misclassification of Assets or Debts: Disputes often occur when one party claims that certain property or debt should be classified as separate (non-marital) property, while the other insists it is marital property.
3. Mismanagement or Waste of Assets: If one spouse has been wasteful with marital assets (e.g., spending large sums of money on an affair or gambling), the other spouse may argue for a larger share of the property to reimburse for that loss.

How Can a Divorce Lawyer Help in the Equitable Division of Property in Oregon?

A skilled family law attorney can be an invaluable asset when dealing with property division. Our experienced attorneys at Oregon Family Law will:

• Advocate for your interests: We will work to ensure a fair division, whether that means a 50/50 split or a different division based on the circumstances.
• Identify hidden assets: We are experienced at identifying signs of hidden assets and can work with forensic accountants to uncover them.
• Leverage your case: If there are any factors like wasted marital property, we can argue for a more favorable division to compensate for those losses.
• Negotiate on your behalf: Divorce negotiations can be difficult, but having a knowledgeable attorney can help facilitate a settlement that is in your best interest.

Contact a Family Law Attorney in Oregon Today

If you're facing a divorce in Oregon, the division of marital property can be one of the most challenging and emotionally charged parts of the process. At Oregon Family Law, our divorce attorneys are committed to helping you navigate the complexities of equitable distribution and ensuring your financial interests are protected. Contact us today at 503-625-5529 or online to schedule a consultation. Let us help you achieve a fair and equitable outcome in your divorce.