Blog

Dividing Assets and Debts in a Divorce

All debts and assets acquired during marriage are subject to the presumption of equal contribution. That is, if the debt was accumulated or the asset acquired after the parties’ married, then both parties are presumed to own or be responsible for half of the item at issue. The person on title, or the person who is on record as the debtor, rarely matters in divorce.

There are ways to rebut the presumption of equal contribution. For example, if one spouse opened a credit card, and the entire balance owed could be attributed to that spouse’s personal trips to Hawai’i, then you would have a colorable argument rebutting the standard presumption. There are many other ways to rebut the presumption of equal contribution, but it is typically very difficult to do.

The law firm of Bobzien McGuire practices divorce and custody in the greater Portland area, including Beaverton, Hillsboro, Oregon City, West Linn, Lake Oswego, and surrounding communities. Call today for a free half hour consultation at (503) 245-0894.

Leave a Comment

    Comments are moderated. All fields are required, we will not publish your email address.