Yakima Family Law Blog

A number of important decisions must be made during divorce proceedings. That's especially true if there are child custody issues to resolve. Washington is a community property state, which means the assets (and debts) that you've accumulated with your spouse over the course of your marriage will generally be divided equally. 

Of course, if you have a prenuptial agreement, that usually dictates how your community property will be divided. Regardless, separately owned property -- such as assets you owned prior to the marriage -- are not usually subject to community property division. If you think your spouse is hiding assets or is somehow trying to keep you from getting your allotted share of the community property, it makes sense to reach out for legal support in order to protect your interests.

A recent marriage study suggests that high-net-worth assets may have an impact on whether Washington married couples stay together or call it quits. In fact, this particular study suggests that wealthy people in general are much likelier to divorce than their less-affluent peers. While one study definitely does not prove or discount such assertions, it is true that finances often have significant influence on marital relationships.

Spouses who divorce often say that money was a causal factor in the breakdowns of their relationships. In households where one spouse earns a high income and one spouse is not employed or earns substantially less, there often seems to be relationship stress that many believe is caused by the economic disparity between the married couple. Another commonly occurring argument between spouses of substantial means has to do with living expenses and debt.

No one likes to think about divorce when he or she is planning to marry. However, in some circumstances, such as when the person also happens to be a Washington business owner, it is a wise business decision to think ahead and to not ignore the possibility that any marriage could ultimately end in divorce. Doing so enables a business owner to take steps to protect business assets should a marriage someday end in court.  

Washington happens to be one of only nine states in the nation that continue to operate under community property laws in divorce. This means that all marital assets are typically split 50/50 between spouses. Unless a business owner executed a prenuptial plan before marrying, marital property would include the value of the business at the time of the divorce.  

In business, divorce or any other transaction that includes signing a contract, Washington readers will want to remember the importance of carefully reading all terms therein and making sure they understand them before signing. A dispute may arise down the line if one or more parties of a contract suddenly claim they did not understand what they were signing. A man who was once married Elvis Presley's daughter says he was unaware of the contents of the post-nuptial agreements he signed.

Lisa Marie Presley has been married four times. While she paid spousal support to her first husband, she did not pay any to her second or third. It is her fourth husband who complained that he was unaware that signing a post nuptial contract would prevent him from ever receiving spousal support from Presley.