How should you account for your retirement account in an Oregon divorce?
How should I account for retirement in an Oregon disillusion? One of the major issues that we see a lot in divorce law here in Oregon is what happens with individual or joint retirements when parties get divorced. One of the major mistakes we see from people who are unrepresented or underrepresented is that a separate party say the husband's retirement account isn't accounted for because people have a mistaken belief that husband's retirement is only his. That's not the way that Oregon has looked at retirement accounts, retirement accounts or property. The other party is entitled to what's called the marital coverture fraction, which basically looks at how long has the retirement been added to while the marriage is in existence.
That marital covert refraction is entirely divisible in Oregon during any divorce proceedings, and it can be offset by other items say equity in a house, say another retirement account presumptively owned by wife. Those things can be balanced in some manner that is fair and equitable between the parties. So retirement accounts in divorce are divisible regardless of who holds them in their own individual name.