Property Division Lawyers in Bend, Oregon
Compassionate Family Law Attorneys Dedicated to Helping Our Clients Achieve a Fair Outcome in the Asset Division Process
Chances are that if you are reading this, you and your partner are considering ending or have already decided to end your marriage. Depending on the unique circumstances of your marital union, several factors may be worthy of consideration, including child support, parenting time arrangements, spousal support, and how to divide assets in a way that is fair to both parties.
While everyone may have their own property division questions, those with more complex estates, greater wealth, or business interests are often especially concerned about how to divide marital property. Divorce courts in every state treat the division of assets slightly differently, and you must clearly understand the rules and necessary steps involved in the fair division of assets.
It is natural to feel confused, overwhelmed, and potentially even under attack when going through divorce proceedings and negotiations or litigation relevant to arriving at a fair marital property settlement. It’s critical to remember that you need not go through the divorce process on your own, as help is available in the form of compassionate legal counsel. Our Central Oregon law firm proudly represents clients concerned about ensuring marital property is divided fairly, with the intention of helping our clients achieve the optimal outcome in their divorce cases.
To learn more about our legal services, please get in touch with our Bend-based law office to schedule your no-obligation case evaluation today. We represent clients in Jackson, Jefferson, Crook, and Deschutes counties.
Is Oregon an Equitable Distribution State?
Oregon is an equitable distribution state in divorce cases, meaning that eligible property is subject to being divided fairly between you and the other spouse. Equitable and fair does not mean the marital property will be divided equally or 50/50. Many factors will be considered to determine a fair division of property, such as who owned more debts in the marriage, whether there was an equal contribution of funds, who will keep the family home, and more.
The Oregon property division process generally involves several steps. First, you and the other party must gather and inventory all eligible property. If you are unsure what counts as separate, personal property and what may be considered marital property, please speak to our legal team for assistance. Once you and the other party determine what is and is not marital property, that property’s equitable division and distribution will be allowed to proceed.
Generally, the court considers any property or mutual funds acquired during marriage subject to property division laws. Examples of what may be regarded as marital property could include shared bank accounts, investments, real estate property, motor vehicles, and other assets.
What is Considered Marital Property and What is Considered Separate Property?
While you were married, if you or the other spouse acquired real property, debts, or other assets, they will typically be considered marital property.
Examples of shared marital property could include real estate acquired during the marriage, mutual funds, stocks, financial holdings, business interests, vehicles, retirement accounts, and other assets. There may be certain examples where there is a debate about the ownership of certain debts or assets, and the ownership of those assets can become intermingled, which would render them as marital property.
Separate property is typically easier to define than marital property. In most cases, any property you acquired before getting married will be considered separate personal property as long as the title or claim remains in one party’s name during the marriage. Additionally, specific property acquired during the marriage could also be considered separate property, such as instances of the acquisition of an inheritance, gifts from other parties, and trust assets.
What Marital Property May Be Subject to the Fair and Equitable Distribution Process?
If you and your spouse cannot agree on how to divide property and debt, the judge overseeing your divorce or legal separation case will be able to do so for you.
If you want to retain control over property division, it may be worth considering divorce mediation before proceeding with litigation and entrusting the decision to a family law judge.
Types of property that could be subject to the equitable division of assets in divorce cases could include the following:
- Financial savings, stocks, bonds, and other investments
- Real estate property, including the family residence
- Pensions and retirement accounts
- Responsibility for outstanding debts
- Business ownership interests
- Motor vehicles, including cars, boats, and other assets
- Sentimental personal property that has more emotional value than financial value
- And more
What Factors May Influence How Family Law Courts Divide Property in Oregon Divorce Cases?
Divorce courts consider several factors when dividing marital property, including the property’s value, each spouse’s contributions to the marriage, and either partner’s financial standing at the time of the divorce.
A knowledgeable divorce lawyer can assist you in the equitable division of property process. Our family law attorneys will advocate for your interests, investigate and identify hidden assets, argue for a more favorable property division, and negotiate in private or public scenarios.
Contact Our Law Firm to Schedule Your Case Evaluation with Our Knowledgeable Oregon Divorce Attorneys Today
There are many factors that spouses need to consider and pay attention to when going through a divorce, including child custody, potential tax consequences, and more. Among the many concerns should be the identification of marital property and what is involved in dividing that property between the spouses. These legal issues are often complex to understand and challenging in practice. Importantly, you must remember that help is available from experienced divorce lawyers from our law offices.
Baxter Law, LLC has extensive experience representing clients in these and other practice areas related to family law matters. We believe in providing communicative and compassionate legal representation so our clients always feel confident and informed throughout the legal proceedings.
To learn more about the benefits of retaining our legal counsel, please contact our Oregon law firm to schedule your initial consultation with our legal staff today. You may reach us at (541) 546-1713.