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What are the benefits of equitable distribution laws?

High net worth couples may be concerned if they're heading into a divorce, especially if they have no prenuptial or postnuptial agreement in place. These couples have a lot to gain or lose in a divorce, especially in states like Oregon, which do not have community property laws.

Oregon's laws allow for the distribution of property equitably among couples. That means that either party has the potential to obtain more than the other since they're not guaranteed an equal share.

What's good about equitable distribution?

High net worth couples may appreciate equitable distribution laws because they guarantee that the other party won't automatically receive 50 percent of the marital estate. However, this does mean that you'll need to negotiate more heavily if you and your spouse cannot decide on how to divide your assets.

With flexibility comes a potential for conflict, which is one of the drawbacks, but in many cases, it actually works out more fairly than if a couple split everything equally. The person who put more money into the marriage typically has the potential to leave with more as well, but a lesser-earning spouse will have more the negotiate for and be able to seek spousal support to keep their living conditions similar to those obtained during the marriage.

What should you do if you're divorcing in an equitable distribution state?

If you are divorcing in an equitable distribution state, you should look into hiring your own personal attorney to help you negotiate your fair share of your assets. You and your spouse should not share an attorney but should aim to come to an agreement on the division of your assets outside the courtroom when possible.

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Law Office of Stephen J. Bedor

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