Property Division

Property and Debt Division

More than 36 Years of Emphasis in Legal Issues of the Family; Including Divorce Cases in Yamhill County and Washington County, State of Oregon.

Larry K. Gray & Associates, P.C. will strive to achieve the best outcome for every client by providing zealous legal representation through reasoned, logical, informed, effective advocacy.

At Larry K. Gray & Associates P.C., the emphasis and focus are to provide sound advice, top quality document preparation, and/or reasoned advocacy for our client. We strive to provide professional, timely, and cost-effective results to meet the client’s legal concerns. Our proficiency, effectiveness, and integrity have earned us a reputation as one of Yamhill County’s premier lawyers.

Larry K Gray & Associates, PC

At times, you may find yourself in situations or with problems that you cannot resolve on your own. Our legal counseling is designed to assist you and your family with courtesy and respect in such difficult periods. Knowledgeable advice acquired from decades of legal experience can help you formulate a course of action to free yourself from a complex legal maze. We do not represent banks, insurance companies, governmental agencies, or large corporations; our clients are individuals and families seeking help with legal problems they encounter in this increasingly complex world.

Larry K Gray & Associates, PC

"A Family Law Lawyer"

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(503) 538-1350
404 East First Street, Newberg, OR 97132
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Larry K Gray & Associates, PC can answer your questions and help you with Divorce, Child Custody, Parenting Time, Child Support, Property and Debt Division, and Spousal Support Issues.  

Larry K Gray & Associates, PC

The marital assets to be divided in a divorce will include almost all assets acquired during the marriage, such as real property, time shares, personal property, vehicles, bank accounts, financial investments, business interests, life insurance cash values, retirement accounts, credit card airline mileage points, sporting equipment, tools, art objects, household furnishings, etc. The general rule applied to property division within a divorce is “ . . . as may be just and proper in all of the circumstances.”

In most circumstances, this means a 50/50 split of the assets and debts acquired during the marriage. Almost all assets and debts acquired during a marriage are going to be subject to an equal division; however, some assets acquired during the marriage, such as inherited properties, may be treated as separate property and not subject to an equal division.

In general, property acquired before a marriage can be separate property and not subject to an equal division. An important consideration is what has happened to the premarital property during the marriage. Have you kept it separate and identifiable, or have you commingled the property? If commingled, the court is reluctant to disentangle the commingled assets by tracing historical transactions.

The debts incurred during the marriage will also be divided between the parties. In general, the total outstanding balance of the marital debts will be subtracted from the total of the fair market value of the marital assets, to determine the net equity. The net equity is then divided 50/50 between the parties. Often, the trick is dividing the assets and debts in such a way that each party receives 50% of the net equity

Point of caution - even if the Judgment of Dissolution of Marriage provides that one of the parties is required to pay a joint debt, if the debt is not paid, the unpaid creditor still has the right to proceed against either joint debtor.

There are some cases where the court can determine that the just and proper division of the net equity is not a 50/50 split; it is referred to as a long-half.

When the general principle of “ . . . as may be just and proper in all of the circumstances,” is applied to the facts of each individual case, the results can vary widely from case to case. The decision maker (Judge) is given a tremendous amount of discretion in formulating a division of assets and debts.

An experienced divorce attorney can give you a better understanding of your options and the array of potential outcomes in division of assets and debts in your divorce.

More than 36 years of helping people through a divorce have given us the experience, knowledge, understanding, and advocacy skills to adapt our legal representation according to the needs of each individual case - whether preparing paperwork for an uncontested divorce or dealing with a difficult nasty divorce.

For a knowledgeable, experienced, and cost-effective
Child Custody and Parenting Time Attorney, contact
Larry K. Gray & Associates, P.C. Larry K. Gray has been helping clients for more than 36 years.

Larry K. Gray & Associates, P.C.
404 East First Street
Newberg, Oregon
Phone: (503) 538-1350
Fax: (503) 538-6957

The information on this website is not intended to be legal advice regarding your particular legal problem, and the presentation of this information does not create an attorney-client relationship. An attorney-client relationship will only exist after a mutual agreement to establish an attorney-client relationship.