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.
Washington readers who follow celebrity news headlines may be familiar with a divorce situation that has been ongoing for years now. Harry and Linda Macklowe have been unable to achieve an amicable settlement, and the court has stepped in to help the situation along. Harry Macklowe has contended for years that he has no money to speak of that could provide financial support to his former spouse. The judge overseeing the case appears to believe otherwise and has ordered Macklowe to sell his expansive artwork collection to generate funds.
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.
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.
Many Washington spouses encounter challenges when navigating the family justice system, especially regarding divorce. It's never an easy process, and when one spouse is out to get revenge on the other or is trying to gain the upper-hand in property division proceedings, things can messy. If anyone reading this post is worried about possible hidden assets in divorce, there are several issues to pay close attention to when trying to confirm a suspicion or gather evidence to catch a spouse in the act.
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.
The end of a marriage can bring about a myriad of difficult emotions. In Washington State and all across the country, ending a marriage can also be a costly experience. The process of divorce can wreak havoc on personal finances. However, there are certain things like dividing property and assets that can be done early on that can save money and complications later.
During a marriage, an individual and his or her spouse have likely accumulated assets. When it comes time to divorce and separate those assets, a bit of knowledge and strategy can ensure that the best arrangement is made, one that will support the individual's best interests. By staying informed about the value of the marital property and with the right timing, a person in Washington can undergo the divorce process with the goal of correct valuation of community property.
Washington is one of nine states that handles property division issues somewhat differently than the other 43 states when it comes to divorce. These nine states are governed by community property division laws, meaning all community property gained during the marriage is owned equally by both spouses, subject to equal division in divorce. For some, this creates tremendous concern regarding their retirement plans.
One of the most common sources of contention in the divorce process has to do with property distribution. Washington spouses often fight over who gets the house, the boat, the vacation time-share and any number of other big-ticket items, as well as minor assets that are more sentimental in value rather than monetary. Something every person considering divorce in this state should know is that the concept of equitable division does not apply here.