Oregon is not a community property state. In dividing of the marital estate, the court will consider the parties’ debts, as well as their assets. Other factors include the nature and extent of the property, the duration of the marriage and the economic circumstances of each spouse.
If the marital estate includes a business, investment or retirement accounts, or tax-sheltered assets, the parties and their attorneys would probably enlist the aid of a CPA, a financial planner, an appraiser, or perhaps a number of experts. The division of financial assets can become extremely complex and mistakes can be disastrous to either party or to both parties.
In some cases, the court will consider the gross misconduct of one party in dividing the property. In most cases, the parties eventually reach an agreement they can live with. If the court finds that the parties’ settlement is reasonable, the language of the agreement will be incorporated into the final judgment. If the parties cannot reach an agreement on all issues, the case will go to trial and court will divide the parties’ property and debts.
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