As 2019 gets underway, many Washington spouses will be among others across the country who file for divorce. This state is one of nine that uses community property division rules. It is critical that anyone headed to court first makes certain he or her understands what this actually means.
Most states use equitable division guidelines wherein judges overseeing divorce cases determine what they believe to be a fair distribution of marital assets. Community property rules, however, basically divide all marital property equally. A pre or postnuptial agreement, if applicable, may include changes to this approach. In most situations, property division rulings in Washington are permanent; in rare circumstances, such as evidence of fraud, modification may be sought though it is definitely not the norm.
You are entitled to an equal interest in all assets acquired during your marriage. However, you are also liable for an equal portion of any debt accrued in that time, as well. It is highly important to understand mortgage implications, as well as all issues concerning bank accounts, retirement benefits, stocks, bonds and investments before heading to court.
Hansen Law, PLLC is committed to providing guidance and strong support to Washington residents preparing for divorce. Helping you achieve your goals in as economically feasible a fashion as possible is a high priority for our experienced legal team. If you have specific questions about community property division laws or how a pre or postnuptial agreement might affect your settlement, you can obtain answers by scheduling a a free consultation.