Gouras & Amis P.L.L.C.
GOURAS & AMIS P.L.L.C.
Financial Information:
About Property Division
Washington State is a community property state. In general, this means that most assets acquired during the marriage (and most debts) belong to the marital community. The more usual exceptions are for assets brought to the marriage, inheritances, or gifts to one of the spouses only. These may be considered one party's separate property. Even then, separate assets can be converted to community property if a person is not careful.
Even if it is clear that a party's assets are separate property, Washington State does permit the court to divide both community and separate property assets. In a divorce, all of the assets are on the table.
In general, the court is obliged to make a just and equitable distribution of the assets and debts. This does not necessarily mean 50/50. The court has a wide range of discretion to decide what is fair. Often times, the distribution of assets and debts are combined with payment of maintenance and the other side's attorney fees. The court will also look at the relative financial situation of the parties. For example, if the husband earns ten times what the wife does, the court is unlikely to divide the assets and debts 50/50 and award no maintenance. It simply wouldn't be fair. Most cases are more complicated than this example. Competent legal counsel must be obtained to address these complex issues.
|
|
||
|
Gouras & Amis PLLC
Family Law Attorneys Emphasizing difficult Family Law cases in the greater Seattle, Washington area |
||
| Bellevue, Washington 500 108th Avenue, N.E. Suite 800 Bellevue, Washington 98004 |
Kent, Washington
20819 72nd Ave. S. Suite 620 Kent, Washington 98032 |
|
Fax (253) 395-1022