Feibleman Case Attorneys at Law - Family Law, Divorce, Estate Planning, Personal Injury, Alternative Dispute Resolution attorneys / lawyers in Oregon - Frequently Asked Questions about Law of General Judgements of Divorce:

Frequently Asked Questions about Law of General Judgements of Divorce:

In Oregon, there is a presumption that each spouse contributed equally to the assets of the marriage. This means that, absent evidence to the contrary (rebuttal evidence), each spouse will receive an equal share of the assets. A homemaker's contribution (domestic duties, child care, etc.) will be considered as making both parties equally responsible for the acquisition of assets. A party may present evidence challenging the presumption of equal contribution by, for example, proving that specific assets were received by only one spouse as a gift or inheritance or without any contribution from the other spouse, however, the examination does not end there. Even if that presumption has been rebutted, a court can still divide the asset to be “fair.” That is because Oregon law requires that the court divide the assets to produce a "just and proper" result under the circumstances of the case. Some of the things the court considers are the length of the marriage, the amount of property brought into the marriage by each party, the amount of property available for division, inheritances & the extent of the parties' mixing or “commingling” of assets. Typically, Oregon judges try to divide the net after tax value of all assets and debts in an equal manner. The longer you are married, the less the court cares about the history of the asset. Also, Oregon is not a community property state and the court has jurisdiction over marital and pre-marital assets. Simply put, a marital asset is an asset acquired, by any means, during the marriage. Most courts also treat the increase in value of a premarital asset as a marital asset.

A PSA is a written agreement listing and dividing the assets and debts of the parties. An MSA will be a PSA that also settles custody, parenting time, child support and spousal support. A PSA or MSA is still subject to a judge's approval and will have to be incorporated into a General Judgment of Dissolution.

All Property and Debts are divided in a divorce. This means that it is important to list everything with proper identification as to legal descriptions, license numbers, account references, etc. Assets can include real property (i.e. bare land, homes and commercial real estate), vehicles and boats, financial accounts, investments, business interests, time shares, retirement accounts, life insurance policies, lawsuit settlements, trusts, accounts receivable, etc. Debts are also divided in a divorce but you need to understand that all the agreement and the Divorce Judgment does is state which, between the spouses, has the primary obligation to pay a debt. Unless the spouses agree on what and how things will be divided, the judge, at trial, will divide all of the property and debt. Remember that the creditor is unaffected by a settlement or Judgment. For example, if you agree that your spouse pays a joint credit card debt and they do not pay, the creditor can sue you despite what the legal papers say.

Prenuptial agreements are usually enforced by Oregon courts, but are subject to a high level of scrutiny. For example, a Court may invalidate a prenuptial agreement if it was signed under duress or coercion, if one of the parties was not given a reasonable time to examine the agreement and seek the advice of an attorney prior to signing, or if one of the parties did not fully disclose all of his/her assets.

There are basically three kinds of retirement assets. Defined benefit plans (i.e. pensions) generally provide that at retirement there will be a calculated payment for the life of the employee. Defined Contribution plans (i.e. 401K, Profit Sharing, SAR-SEP) generally provide that at retirement the account balance will be distributed to the employee. IRA’s are self-directed defined contribution type plans which allow for withdrawal subject to certain taxes and penalties depending on the age of the party when they draw and the method in which they draw the funds. IRA’s can be transferred to an ex-spouse’s IRA pursuant to a General Judgment of Divorce, tax free, with the completion of the appropriate transfer form. A lawyer is not required for this. Pretty much all other plans require a Domestic Relations Order (commonly called a QDRO) to divide the retirement. A QDRO is a unique legal document that has certain requirements and must be signed by a judge, issued pursuant to a Judgment of Divorce and approved by the retirement plan before it is effective to secure your interest in your spouse’s retirement. All military, federal, state, county, city and private plans require some form of Domestic Relations Order and it is advisable to have an attorney help you with this process.

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