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Property Division in Salem

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One of the most important aspects of an Oregon divorce is dividing marital property and assets. While some couples can mutually agree on who should get what, others are concerned about losing significant assets, major investments, business ownership, and even things which have substantial sentimental value.

If you are interested in filing for divorce in Salem, our divorce attorneys at Landerholm Family Law are ready to help you obtain your rightful property. We can guide you through the complexities of the legal process and recover all your entitled assets, whether it is the house, car, or retirement accounts.

Oregon is an Equitable Distribution State

In general, marital property is subject to property division. Marital property consists of any assets you purchased or received during the marriage, no matter who originally bought it. By contrast, separate property is any asset a spouse owned prior to the marriage.

Oregon is considered an equitable property state, meaning the marital property is split between the two spouses in an equitable or fair manner. In other words, the split doesn’t have to be equal—or 50/50—to be fair.

The court will accept a couple’s preference on how property should be divided—without court intervention. However, if there are certain assets you and your spouse cannot agree on, then the court must divide them for you.

The judge will consider the following factors when dividing property in Oregon:

  • How much income each spouse earns
  • The age and health of each spouse
  • Each spouse’s contributions to the marital property
  • Each spouse’s contributions to the other spouse’s education and earning power
  • The value of each spouse’s separate property
  • Each spouse’s future financial needs
  • Any existing prenuptial or postnuptial agreements
  • Any alimony obligations

First, the couple will go through the discovery process to determine which assets and debts are considered marital. Next, each asset and debt will be given a monetary value. Lastly, the court will distribute the marital assets between the two parties in an equitable way.

Ready to Start Your Case Today

Our firm provides each client with personalized and compassionate legal solutions. We understand how emotionally difficult divorce can be, which is why we are there from start to finish to help you obtain the most favorable outcome.

For more information, contact us and schedule your initial consultation today.

About Our Team Portland, Vancouver, Oregon City & Salem Family Law Firm

At our family law firm, we understand the importance of taking an individualized approach to working with clients. Our goal is to give our clients stability and confidence during a difficult time of their lives. From start to finish, we can provide the personalized counsel you deserve.

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