Handling Complex Property Division Concerns
As an equitable distribution state, Oregon divorces have potentially more flexibility in property division. Because of the ambiguity that this presents, you need competent legal representation, especially for high-value divorce cases.
Your Advocate In Court
If you and your spouse do not agree on how to split property, the court will make the final decision on the distribution of assets. Mastanduno Law Group can represent your best interests in court, advocating for an equitable solution that is in your best interests.
According to state law, anything you acquired during the marriage becomes marital property. A minor exception is a gift or inheritance given to only one person. Sometimes an equal split of property is not identical due to a variety of valuation issues including:
- The costs of selling property in order to split the proceeds
- Financial needs of the children
- Tax considerations
Equitable division of your assets as a couple is a given during the divorce process. However, the way that you divide your assets, such as retirement savings can make a big difference in how they get taxed. Our lawyers can partner with you to ensure that you avoid paying unnecessary taxes.
Property Division And Your Business
There are many different scenarios for your business in the event of a divorce. If you started the business before marriage, and your spouse is not an owner, much of it may be considered separate property. If you started the company after marrying, and your spouse contributed some efforts toward building the business, the whole enterprise may be marital property.
If you want to keep the whole business, you may have to forego other assets to do so. Business owners need legal counsel that can advocate for the existence of nonmarital property elements in the business such as personal goodwill. If some assets of the company are separate, it will not get counted as part of the marital property. We can explain your options to pursue your financial goals after a divorce.
Contact Us Today
Get answers to your property division questions from our lawyers. Call Mastanduno Law Group today at 503-868-5480, or contact us online to schedule an initial consultation about complicated business and property division matters.