In the United States there are two different approaches to dividing marital assets when a couple is separating. The first is equitable distribution and the other is community property. Forty-one out of the 50 states use equitable distribution, while the other states like Washington use community property.
Equitable distribution allows judges more discretion and flexibility when it comes to dividing assets and debts accrued during the marriage. Equitable distribution takes into consideration the financial situation of each of the spouses and then tries to create a settlement which is equitable to both parties.
The nine other states in the U.S. use community property as the standard for dividing resources. Community property will treat most marital assets as joint property even if the property was acquired under one spouse’s name.
The best way to prepare for divorce is to get reliable information and the right advocate. The more you know about your rights, the easier it will be to make the right decisions for your unique circumstances. Having the guidance of an experienced divorce attorney will be an invaluable asset through the divorce process.
Contact Lambert Law for help in getting the best settlement possible with the community property laws. We know the law and have your best interest at heart. Call 360-737-1473.