Legal Question in Family Law in Oregon

Re: Division of retirement funds

For purposes of property division upon divorce, retirement assets need to be segregated from non-retirment assets, since they are of two different and unique categories.

As to retirement assets, each party is generally entitled to one-half of that part of the other party's interest in a retirement/pension plan, to the extent that that interest was acquired during the years of marriage. We do that with each plan. Distinction needs to be made between defined contribution plans (401(k)'s for example) and defined benefit plans. A QDRO (Qualified Domestic Relations Order) will generally be needed for each plan that is to be divided. Date of divison is generally the date of divorce, but could be date of separation if there has been a substantial period of separation.

As to health insurtance coverage, once divorced, the non-employee spouse will no longer be eligible for coverage under the employee spouse's plan. But COBRA coverage will be available for 36 months. But sometime the cost of the COBRA is more than simply buying a private policy through Kaiser or Blue Cross.

Have more questions? Need more advice? Need legal assistance? Give me a call. We can arrange for an office appointment.

LAWRENCE D. GORIN

http://www.divorcesource.com/OR/pages/ldgorin.html

Law Offices of L.D. Gorin

521 S.W. Clay St., Suite 205

Portland, Oregon 97201

Telephone: 503.224.8884

Fax: 503.226.1321

E-mail: [email protected]