Portland Divorce Attorneys For Couples With International Finances
Property distribution questions arise in every Oregon divorce. Each divorce comes with its own pattern of property and asset ownership, requiring attention to specific questions about property division.
When a couple has international investments or other financial interests abroad, choosing the right legal and financial professionals for assistance is essential. International finances are one of many issues unique to high net worth divorces.
The family law attorneys at Gearing, Rackner & McGrath understand the intricate challenges of property distribution in a high net worth situation. Our award-winning legal team can help you and your family resolve questions about your international holdings.
Oregon Law, International Finances, and High Net Worth Divorce
Property distribution in Oregon divorces pursues a single goal: To place the parties in an equitable position once the divorce proceedings are complete.
To this end, Oregon family law courts do not automatically divide all marital property equally between the two spouses. Instead, courts consider several factors, including:
- What is each spouse’s personal situation regarding age, health, income, wealth, and earning capacity?
- What did each spouse contribute, financially and otherwise, to the marriage?
- How long have the spouses been married?
- Does a prenuptial agreement exist, and if so, what are its terms?
Oregon family law also recognizes a difference between separate and marital property. Separate property is owned by one spouse or the other - not both. For example, property one spouse owned before marriage is generally considered separate property.
Marital property is typically acquired during the marriage. Oregon family law considers marital property to belong to both spouses, thus making it eligible for distribution. Separate property is typically not distributed in a divorce, but it may be subject to distribution if required to reach an equitable result.
A prenuptial agreement supersedes Oregon’s default laws on property distribution in many instances. If such an agreement exists, the court will consider its terms and apply them to the current situation unless a legal reason exists not to do so.
Issues to Consider When Dividing International Finances in Divorce
Couples with financial interests in multiple countries face more complex property distribution questions than couples whose entire estate resides in the United States. Key questions to ask when beginning the process of property distribution include:
Which assets do we have, where are they located, and what are they worth?
Many high-net-worth couples begin the property distribution process with an independent valuation of their assets. This valuation, performed by a financial professional, provides a foundation for discussion.
A valuation of international financial assets may include information about original investments, the worth of those investments today, the projected value of the assets, and the location of those assets.
How will we handle exchange rates, international laws, and other challenges?
Having financial interests in multiple countries may require a divorcing couple to contend with fluctuating exchange rates, disparate economic situations, and multinational legal requirements. The spouses may need to decide how they will pay fees or taxes on international transfers of assets, for instance.
Here, the help of an experienced attorney and other financial professionals may be essential. Your lawyer can help protect the value of your assets and ensure you do not inadvertently violate any applicable laws.
Does anyone else have an interest in our international holdings?
Generally speaking, a high-net-worth couple’s international holdings are treated like any other asset for the purposes of property distribution and divorce. Oregon courts will consider how the international assets were acquired, what financial and other investments each spouse has made in them, and how to distribute them equitably.
In some cases, however, dividing up an asset affects more than just the divorcing spouses. A business or corporation with multiple partners or shareholders, for instance, must be treated differently from one in which only the two spouses are partners or shareholders.
Some international financial investments or assets may be able to continue existing even after a divorce is final. In these situations, however, the spouses must be able to discuss business amicably, even if they can no longer maintain their marriage.
Speak to an Experienced High Net Worth Divorce Lawyer Today
Property division is a necessary step in divorce - and it is essential to get it right. At Gearing, Rackner & McGrath, our experienced Oregon family law attorneys are dedicated to providing exemplary service and outstanding legal representation.
If you’re considering divorce or working on asset distribution questions, contact Gearing, Rackner & McGrath today. For more information, fill out our online contact form or call us at (503) 222-9116 for a confidential consultation with one of our family law attorneys.