Dividing Assets During The Separation Process
Oregon applies the concept of equitable property distribution to dividing assets in a divorce or dissolution. Equitable is defined here as “fair” or “just and proper” instead of 50-50. Since we are a no-fault state, the courts do not consider the circumstances of the divorce in determining amounts.
At Priscilla Seaborg, Attorney at Law, I have extensive experience guiding my clients through this process here in Portland. I am a lawyer who resolutely fights to reach fair agreements through mediation or negotiation, but my background in litigation means I am also fully capable and prepared to go to court if negotiations break down.
What Do You Get To Keep?
Because the courts do consider the contributions of a spouse as a homemaker as contributing equally to the partnership, it is a general rule that any assets purchased during the marriage are considered marital assets even if one party does not work outside the home.
Marital assets generally include:
- House, vacation property or other real estate
- Cash and stocks
- Family business
- Pensions, IRAs or 401(k)s
Nonmarital assets generally include:
- Assets owned before the marriage
Let Me And My Team Of Financial Professionals Help
Sorting out the details of dividing the assets of a marriage or domestic partnership takes an attorney who has a strong background in family-based legal issues, as well as a strong working knowledge of finances. I have both, but I still work regularly with a team of financial experts who provide additional insight and value when I work with you. My team offers a clear picture of your spouse’s assets, debts and retirement plans as well as offshore accounts and other hidden assets.