You may or may not have young children. Your incomes and finances may or may not eliminate the need for spousal maintenance. In Washington, however, if you are getting a divorce you still need to divide your property. Fairly.
What's fair? 50/50? Maybe. But oftentimes the answer is not so simple.
Washington is one of only nine states that is a 'community property' state. 'Community property' in a divorce refers to the property either spouse acquired during the marriage. Property a spouse brought into the marriage with them is exempt from the 'marital pile,' but still must be 'fairly' allocated in a divorce.
Assets could be:
It is typically best for divorcing couples to figure out what they think is fair in dividing assets and debts, rather than allowing the court to impose a decision that neither party finds satisfactory. Unsurprisingly, this can get complicated, especially when it is not clear who should get what.
Wysocki Law helps bring clarity to the division of assets and debts. First, we help our clients gather and analyze financial information. Then we negotiate and help clients come to agreements that align with a divorcing couple's specific circumstances and priorities.
When couples are able to come to an agreement on the asset and debt division, the terms are typically final, bringing closure and the ability to move on with their lives in the way that an ongoing legal battle does not.
By reaching an agreement out of court, couples can keep their financial details and personal matters private. Divorcing with agreed terms lends to a more amicable post-divorce relationship, which is particularly important if the former couple will continue to interact due to coparenting or ongoing financial entanglements.
Factors may include:
Length of marriage
Educational and health needs
Potential earnings post-marriage
Income of the spouses
Get the answers you're seeking
If you're not sure what's fair, contact us. If you think you know what's fair, contact us. We can help you rest assured that the assets in your divorce are fairly divided between you and your spouse.
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