Am I entitled to half the business if we divorce? 2 Answers as of June 08, 2011

After being married for 25 years, would I be entitled to half of a business my husband has in his name in Oregon?

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Howard W. Collins, Attorney at Law
Howard W. Collins, Attorney at Law | Howard W. Collins
Assume Oregon law applies: There is a presumption of equal contribution to all marital assets, so the quick answer is yes, but determining that value is the difficult part of your issue. You need a lawyer with experience and who understands business. Call for a conference. Thanks.
Answer Applies to: Oregon
Replied: 6/8/2011
Gresham Family & Bankruptcy Law
Gresham Family & Bankruptcy Law | Lillian Suelzle Watson
To answer your question about your husband's business and the effect in bankruptcy. When you are married for a long time, everything either of you own (whether in one or both names) is added up and each normally receives a half of the total amount of property. However, with a long term marriage, if you primarily raised children and cared for the home, you would also be entitled to spousal support (alimony) for the rest of your life. Of course, if you make more than your Husband, he may be entitled to spousal support. When dealing with the valuation of a business, it is important to have a unbiased evaluation of its actual value. It may be offset by a share of a home, retirement or other assets. I hope this answers your questions. However, remember that every couple is unique and your circumstances may be different than your friend's divorce or another acquaintance. Most lawyers will provide low cost initial appointments to discuss your concerns. Our family attorney would be glad to speak with you and mention this e-mail for a reduced consultation fee. Good Luck.
Answer Applies to: Oregon
Replied: 6/8/2011
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