One of the issues which needs to be addressed in any divorce or “dissolution of marriage” is the division of property and debts. A Vancouver, WA attorney can explain the following in more detail. Click here to read more about one Vancouver, WA family lawyer who is knowledgeable about the individual needs of families which are separating. Click here for testimonials.
In Washington State any property which is acquired during the marriage is regarded as community property. This means that it must be divided equally at divorce. Property includes:
- Real estate
- Spouse’s earning
- Pension benefits
- 401(k) contributions
Debts incurred during the marriage are considered community debts. This means that both individuals are responsible for paying them.
This does not mean that the Washington Courts will always divide the property equally between the divorcing spouses. There are several factors taken into consideration when dividing the property.
- Type of community property. This is especially true of the marital home. The court is more inclined to award the family home to the parent with whom the child will be living.
- Some property acquired during marriage will still be considered personal. This includes property received as an inheritance or other special circumstances.
- How long a couple has been married will be taken into consideration. In short-term marriages and especially marriages without children, the court may order each individual to leave the marriage in the same financial condition which they entered the relationship.
- Financial condition of the spouses. The court would not necessarily leave one spouse to be very wealthy while the other one is in poverty.
Call Lambert Law for more information. 360-737-1473.