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Omit at Your Own Cost in the State of Oregon

 

The distribution of assets during a divorce is imminent in the majority of cases. Also in a majority of cases comes the wave of hurt, disappointment and distrust. So what do you do if you think that a spouse is concealing assets during the settlement process? Sometimes individuals are curious about their obligations to disclose assets in divorce. There are many discovery tools available to lawyers to help discover assets a party may own, so it’s never a good idea for anyone to intentionally conceal anything during a divorce. There are also serious ethical consequences for lawyers that assist clients in concealing assets during divorce. Every state has its own varying laws and statutes on this particular matter but Oregon has a finite list of rules to follow in regards to assets.

Oregon Law

Under Oregon Divorce Law ORS 107.452, that states “A court that entered a judgment of marital annulment, dissolution or separation shall reopen the case upon the motion of either party if the moving party alleges that significant assets belonging to either or both of the parties:(a) Existed at the time of the entry of the judgment; and (b) Were not discovered until after the entry of the judgment. However, If the assets were accidentally or inadvertently omitted from the distribution,the court will divide the asset using the same legal standard as if the asset were discovered prior to the divorce. The court will determine whether or not the assets were omitted purposely or accidentally depending on the evidence provided, and this varies on a case to case basis.

Penalties & Distributions

Now, If the court does find evidence of intentional concealment, it can and will, do a number of different things such as:

  • Demand and order a division of the appreciated value of the omitted assets
  • Award the forfeiture of the omitted assets to the injured party (the spouse who had assets concealed from them)
  • Put in place a compensatory judgment in favor of the injured party
  • Order judgment in favor of the injured party as punitive damages; or any other distribution as may be just and proper in all the circumstances.

It is highly important that when going through a divorce, all of the proper paperwork is filled out, all assets, debts and properties are recorded and anything else that you feel may be pertinent to your case, be brought up and documented. No matter how big, or how small you may think the issue is. As you can see, some of the repercussions for not openly displaying everything up front can be harsh. These divorce laws in Oregon are just a few that can drastically and dramatically affect a divorce. Know all information and laws before really delving into anything, just as with being informed on anything, research is key.

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