Oregon – Equitable Dissolution Standard
Oregon is an equitable dissolution of marriage state. Equity is a very broad legal standard and gives the court high flexibility in creating a division of assets and debts that works for each parties individual circumstances. While equity can mean that everything is split 50/50, it does not require it. Instead, the court has the ability to take into consideration the entire marital estate and decide was is a marital asset versus marital property. Once this first distinction has been made, the court then has the latitude to divide assets and debts in an equitable manner. In certain cases, this means that one party may receive the entire marital home while the other party receives the entire retirement accounts. In other cases the parties may need to sell the marital home and divide the proceeds 50/50 along with all other assets and debts.
Each Washington County divorce is different as no two families are the same. If you have questions about an Oregon divorce, especially if it involves children or spousal support (alimony) claims, contact a Hillsboro, Oregon family law attorney today by calling Kroll & Johnson, PC