Property Division Attorney in Eugene, Oregon
Dividing a marital estate in Oregon at the time of a divorce has become an increasingly complex process under the Oregon Uniform Marital Property Act. Divorce is no longer simply a matter of identifying bank accounts and dividing liquid assets. Today’s divorce client requires the knowledge and expertise necessary to identify and evaluate a variety of financial and real estate interests.
Oregon is not a “community property” state. In Oregon, assets and debts are divided “equitably” either by agreement or by the court. An equitable division of marital assets and debts simply means a fair division under the particular circumstances of a marriage. Some spouses are able to agree on the equitable division of marital property, assets and debts while others are not. If there is no marital property agreement then the court will divide the property after considering a number of factors including:
- Assets, debts and financial condition of each spouse
- Business valuation, business interests, and self-employed spouses
- Valuation of retirement accounts, 401(k)s, pensions, stocks and bonds
- Estate planning analysis of trusts, life insurance trusts, and family limited partnerships
- Future financial needs and liabilities of the parties
- Liquidity and tax consequences
- Contribution to the education or earning power of the other spouse
- Contribution to the value of the marital property
- Premarital and prenuptial agreements, separate property, gifts and inheritance
- Spousal maintenance or alimony obligations
To learn more about marital property, marital assets, and marital debts in Oregon please contact today.