Washington is a no-fault community property state. As a practical matter, what this means is that the property acquired during the marriage is considered community property and jointly owned, and will be equitably divided by the Court to achieve a fair division, based on the overall circumstances of the parties without respect to any party’s misconduct. Separate property (property obtained before marriage) is usually (but not always) retained by its pre-marriage owner.
The division of property is meant to be a straightforward process, but is often extremely complex.
A skilled attorney is needed to assist you in identifying all of the assets that are subject to division. In cases of significant investments, stock awards earned through employment, family business concerns, pensions and retirement accounts or deliberately hidden assets, special knowledge is needed to locate these assets and accurately determine how they would be divided by a trial court.
Even when all the assets are known and their value is clear, determining how a Court would divide them requires specialized legal knowledge. If parties had significant assets prior to being married, those can be subject to division in a divorce in some circumstances. If one party has significantly higher earning capacity than the other, that may result in a disproportionate award of property to balance out the financial circumstances of the parties. Some parties may be entitled to maintenance (formerly called “alimony”) for a period of time to balance the parties’ financial circumstances.
A skilled attorney can educate you not only as to the complex rules governing the division of property, but can also provide a meaningful assessment of how property in a divorce is likely to be divided so that you can negotiate and litigate from the strongest, most informed position possible.
At Deno Millikan, we are happy to provide you with more information about the division of property in a divorce, and what specific steps should be taken in your case to protect your property. Call us today at 425-259-2222 or fill out our contact form.