Oregon Divorce & Finances
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UPDATED: Jul 14, 2021
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Sorting out joint finances during a divorce can be a painful and confusing process. Understandably, you may have some questions. How will your property be divided? What effect will the divorce have on your taxes? Do you have estate planning issues to settle? What about spousal support payments, also sometimes called alimony in Oregon? What are they, and how are they determined? The following headings address Oregon laws specific to divorce and finances.
Oregon Property Division/Community Property/Debts:
Oregon is an’equitable distribution‘ state. Marital property will thus be distributed on terms considered to be fair. Note that’fair’ does not necessarily mean equal. In the equitable distribution determination of the property, the court will consider, among other things, the contributions of each spouse to the marital estate, the total value of the properties of the parties, the economic circumstances of each party, any misconduct that may have occurred, and the amount of spousal support awarded.
Oregon Spousal Support:
There is no automatic obligation for either spouse to support the other in the event of a divorce. Where the court does grant spousal support (also called maintenance or alimony), it is done on a case-by-case basis and in consideration of many factors including:
- The financial resources of the party seeking support;
- The time and input of resources necessary for the party seeking maintenance to find appropriate employment and sufficient education and/or training for that employment;
- The established subjective standard of living during the marriage;
- Marriage duration;
- Physical and emotional condition of the party seeking maintenance;
- Child support and child custody effects;
- The ability of the purported paying spouse to meet his/her own needs while meeting those of the other spouse, and more.
Oregon Divorce/Child Support/Child Custody Lawyers:
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