Property distribution in a divorce can be relatively straightforward or incredibly complex, depending on a multitude of factors, including, but not limited to, the type of asset involved, the length of the marriage, whether the parties have children together, whether the asset was brought into the marriage by one spouse or acquired by both parties during the marriage, whether a separately owned or acquired asset has been commingled or integrated into the marital estate, the financial and non-financial contributions each party has made to the acquisition of the asset, whether the asset was acquired by gift or inheritance and how title to the property is held.
In Oregon, there is a statutory “presumption of equal contribution” for all assets acquired during the marriage. That means that, unless there is evidence to the contrary, each spouse is deemed to have contributed equally to any asset acquired during the marriage, and thus, each party is entitled to half the net value of the asset in question. One exception to this rule is assets acquired by gift or inheritance. If the party receiving the gift or inheritance kept the asset separate on a continuing basis during the marriage, then the other party will not be entitled to half the value of the asset and the presumption of equal contribution will not apply.
If you are contemplating a divorce or dissolution of your domestic partnership, and you and/or your spouse or partner have retirement accounts, pensions, stock options, real estate, investment accounts, and/or business interests, you are strongly encouraged to call Newman Family Law or submit a free case evaluation online.