Division of Property Includes Both Assets and Debts
One of the most complex and contentious aspects of divorce is the division of assets and debts. At Jensen & Leiberan, we are experienced in helping clients achieve an equitable distribution of marital assets and debts.
Simple or Complex Division of Property
Whether you have a simple estate with modest assets or millions of dollars worth of real estate, business holdings, bank accounts, stocks, stock options, trust and complex retirement holdings and pension plans, our attorneys can help you.
Division of Business Property
We are experienced in handling complex property settlements that involve numerous business holdings. When necessary, we will work with a business attorney or business evaluation expert to determine the best way for our client to obtain his or her portion of the property without putting the business itself in jeopardy.
We are also experienced in handling cases involving bifurcated real estate for timber cruisers. In these cases, we consider the value of the timber separately from the land on which it stands.
Whose Debt Is It?
In all cases, it is important to recognize that debts belong to both parties, even if only one party ran up the credit card debt or purchased the expensive vehicle. Just because only one name is on the card or the title to the vehicle does not mean the debt is his or her sole responsibility.
Who Owns the Assets?
In general, all assets acquired during the marriage are marital assets unless there is proof that the assets were acquired with no contribution (financial or otherwise) by the other party. Depending on the length of the marriage and the amount of commingling of the parties’ assets, even property owned solely by one of the parties prior to the marriage may be subject to division in a divorce. The general standard is equal division, but courts can make an unequal division if the judge finds that this is more equitable in your case.
Bankruptcy
In the event that there is a need for divorcing couples to file for bankruptcy, we will work with your bankruptcy attorney to ensure that relief sought in one case does not cause unexpected consequences in the other case.
To discuss your concerns over division of property, please contact a lawyer at Jensen & Leiberan in Beaverton, Oregon.
