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Washington is a minority state regarding property division

On Behalf of | Apr 3, 2018 | Firm News, Property Division |

If you’re preparing to file for divorce in Washington anytime soon, there are several things you know regarding state laws that govern such issues. This state is one of only nine in the nation that continue to regulate property division proceedings in divorce through community property rules. This means that all marital property is divided 50/50 when you divorce. 

It’s critical that you seek clarification of community property laws since this will impact your financial future once your divorce is finalized. Washington is also unique concerning divorce regulations because it doesn’t allow modification of an existing property division court order. Although there may be rare circumstances where the court would allow you to change the terms of your agreement, you should be prepared for permanency regarding this aspect of your divorce.  

You will not only receive an equal share of assets as your former spouse when you divorce, you will also be responsible for an equal share of debt incurred during your marriage. For instance, even if you move to a new home when you divorce, if you still owed on your mortgage when you filed for divorce, you can be held legally accountable for a defaulted loan if that occurs. It’s best to seek answers for any questions you have regarding property division laws ahead of time rather than risk negative surprises later on in court.  

Hansen Law, PLLC, in Washington can help you protect your retirement benefits, stocks and other business or personal investments as you navigate property division in divorce. By protecting the assets that rightfully belong to you now, you help pave the way toward a financially stable future. With experienced legal representation by your side, you gain assistance that can help overcome any asset obstacles that arise.