How Do I Make Sure My Assets Are Kept Safe From My Ex-Spouse?

How Do I Make Sure My Assets Are Kept Safe From My Ex-Spouse?

In Oregon, married couples file for a dissolution of marriage when they want to get a divorce. The process begins when one of the spouses, known as the petitioner, files the divorce petition in the appropriate court. The other spouse, the respondent, must receive notice of the filing and the petition.

The dissolution of marriage case begins once the respondent has notice of the divorce filing. In the suit, the court resolves issues, including spousal support, child custody, parenting time, and child support. The spouses must also submit a list of all property held individually or jointly. The judge designates whether the assets are separate or marital property.

The spouses can agree to designate their property as separate or marital. Otherwise, the judge determines the category of each property. Each spouse retains ownership of their separate property. However, Oregon courts divide marital property between spouses by equitable distribution. The judge determines the distribution based on what is fair but not necessarily an equal split of the assets.

Separate property is the property a spouse acquires before marriage. It also includes property obtained during the marriage as a gift to one spouse, by inheritance, or through a will. Marital property is the assets the spouses acquire during the marriage by means other than a gift only to one spouse, inheritance, or will.

Marital property may consist of real, tangible, and intangible personal property. Real property includes land, buildings and other items attached to the property, minerals, and water rights. Tangible personal property, such as jewelry, clothing, appliances, furniture, and vehicles, is movable and touchable. Although no one can physically touch or hold intangible personal property, someone can own and possess them. Such items include digital, copyrights, investments, patents and business interests.,

The general judgment of dissolution of marriage is the court order that ends the marital relationship. The parties are no longer spouses and are legally single. The court order states the terms of child custody, parenting time, child support, and spousal support. It also lists which party owns each property. The dissolution judgment requires the spouses to transfer property and convey titles of the assets in compliance with the distribution ordered by the court. They have thirty days from the date of the court's order to provide the documents or take the necessary steps to deliver the assets to the spouse who owns them.

The divorce order states which property belongs to each spouse; however, access to the property is possible if the items still have the name of the spouse who does not have ownership under the dissolution judgment. After the divorce, a spouse can make sure that their assets are safe from their ex-spouse by doing the following:

  • Update property titles
  • Update bank accounts
  • Close joint credit cards
  • Get a new security deposit box
  • Change beneficiaries on insurance policies
  • Changing passwords and usernames on solely owned accounts,
  • Update mailing address for personal documents
  • Obtain or change post office box or offsite mailbox
  • Give notice or copy of the judgment for dissolution of marriage to businesses and persons that involve your assets, including financial institutions, post office, department of motor vehicles, and insurance carriers.

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