Washington Property Division Attorney
Navigating Complex Property Division Cases in King County, WA
One of the primary objectives of divorce is dividing property. Property includes assets and liabilities. When a couple chooses to divorce in Washington, the court is tasked with dividing all property equitably.
How Does the Court Divide Property in Washington?
Washington is a community property state. Some community property states require that community property be divided equally upon divorce. In Washington divorce cases, the court must divide all property equitably, whether the property is characterized as community or separate.
Under Washington law, assets and debts accrued during the marriage are typically considered to belong to the marital community, while assets and debts acquired pre-marriage or post-separation are considered separate property and usually remain with the respective spouse. However, a court may sometimes award one spouse's separate property to the other spouse to achieve a fair and equitable distribution of property.
Worried about how your property will be divided in divorce? Contact McKinley Irvin today at (206) 625-9600 or contact us online to schedule a meeting with our property division attorney in Washington!
How Our Property Division Attorney Can Help
Our Bellevue property division lawyers understand that dividing assets and debts can be complex in divorce. Frequently, our approach is to negotiate a property settlement and reach a fair agreement outside of court. However, if an agreement cannot be reached, we are always prepared to litigate to protect our client's best interests.
We are also experienced in cases with complex property divisions, which often include valuable assets, high-net-worth community estates, business interests, or international investments.
Factors That Influence Property Division in Divorce
There are a variety of factors that can influence how your property is divided in divorce. Some of those factors include:
- How long you were married.
- The ages of both spouses.
- Current income and income potential.
- Education level.
- The existence of non-marital resources (ex: a trust).
- Financial needs.
- Medical conditions that create a financial need.
- Prenuptial agreement.
- Whether the couple lived together before marriage.
What Assets are Divided in a Divorce?
Assets divided upon divorce differ drastically from case to case. However, certain assets characterize most property division cases. Including:
- Money - Financial assets that can include funds in your checking, savings, and investment accounts, for example.
- Home - The family home is considered real property and an asset commonly divided upon divorce. Vacant land or other owned buildings are also real property that may be divided upon divorce.
- Retirement - This includes funds such as 401(k) accounts and pensions.
- Business - Any businesses owned, as well as business-owned property and accounts receivable.
- Taxes - This includes tax refunds and any other tax credits.
- Investments - such as brokerage accounts and interests in closely held business.
Other common assets divided in divorce include deferred compensation, credit cards, patents/copyrights, art and related valuables, insurance policies, and household furnishings. Property division questions may be more complex when dissolving longer marriages.
Ensuring Fair Property Division in Divorce
Understanding the value and scope of your property in divorce is paramount to achieving a fair division of assets between you and your spouse. The value of certain assets may be fairly simple to determine, while other assets require value appraisals or input from certified accountants. At McKinley Irvin, our divorce attorneys take the necessary steps to prove the value of your property and prepare for negotiations or presentation to the court properly.
Contact Our Washington Property Division Lawyer Today
Consulting with a divorce lawyer with extensive experience in complex property division cases is essential to ensuring that your divorce results in an equitable distribution of assets. We invite you to contact McKinley Irvin. Our client service representatives will assist you in identifying the lawyer best suited to meet your family law needs and will help you schedule a consultation appointment. We represent clients throughout Washington, including Seattle, Bellevue, Everett, Tacoma, Puyallup, Vancouver, and Portland, Oregon.
If you're facing property division in a divorce, having an experienced Washington property division attorney on your side is essential. Contact McKinley Irvin today for a consultation and get the guidance you need to protect your interests and achieve an equitable outcome!
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