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Legal Separation Agreements in Oregon If you need court protection concerning your children, financial support, protection from your spouses debts, and property issues, a legal separation agreement can help.
Marital property includes real estate and other property a couple buys together during their marriage, such as a home or investment property, cars, boats, furniture, or artwork, when not acquired by either as separate property.
Oregon is an equitable distribution state and will divide all marital assets in a fair and equitable way. This does not necessarily mean that assets will be divided equally on a 50/50 basis. Before this happens, the determination must be made as to what constitutes marital property and constitutes separate property.
Oregon is known as a common-law state where each spouse has separate property that must be probated or have another mechanism to pass the property along. Commonly spouses own property as tenants by the entirety or joint tenants with right of survivorship.
After the marriage occurs, spouses can continue to receive separate property in the form of a gift, an inheritance or even a personal injury judgment according to Forbes. Marital property is anything and everything that is not counted as separate property. This includes: Retirement plans.

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Oregon is an equitable distribution state and will divide all marital assets in a fair and equitable way. This does not necessarily mean that assets will be divided equally on a 50/50 basis. Before this happens, the determination must be made as to what constitutes marital property and constitutes separate property.
While the division of assets including real and personal property in Oregon divorce cases can vary depending on the length of the marriage and other specific facts from the case, Oregon is not a community property state.
Disadvantages of Legal Separation Legal separation typically does not entitle you to your spouses assets, whereas a divorce would force a division of current assets. Cant Remarry: You may heal and be ready for a future relationship given enough time. A legally separated person cannot marry a new person in the U.S.
How to Financially Protect Yourself in a Divorce Legally establish the separation/divorce. Get a copy of your credit report and monitor activity. Separate debt to financially protect your assets. Move half of joint bank balances to a separate account. Comb through your assets. Conduct a cash flow analysis.
4 examples of separate property An inheritance given only to one person. Assets you owned before you tied the knot. Gifts given directly to you or your spouse by a third party. Money from a personal injury lawsuit paid specifically for pain and suffering.

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