Everett Family Law Lawyer Helping With Property And Asset Division

Property DivisionDividing property when a marriage breaks up is never easy. However, during challenging economic times it is even more difficult. At our Everett law firm, we help clients get through the property division process, employing creative strategies that protect our client's finances as much as possible.

Examples Of Marital Property

Focusing on divorce and related matters, our team assists clients with the division of assets in accordance with Washington law. This state is a community property state, which means that assets acquired during the marriage are to be divided fairly and equitably. These assets can include:

  • Real estate, including land, houses and vacation homes
  • Other property such as cars, boats, recreational equipment, jewelry and antiques
  • Pensions, 401(k)s and other retirement plans
  • Bank accounts
  • Businesses

If assets such as these and others were acquired during the marriage, they are subject to property division during divorce.

Identification And Valuation Of Assets

The first step in the process is to identify all marital assets. This can be more difficult than one might expect; for example, if one spouse owned a business both before and during the marriage, what determines the portion of the business that is considered marital property? We can help clients answer questions related to specific property division scenarios in Washington state.

The second step is to value all the property identified as community property. In some instances, this requires consultation with appraisers and other experts to arrive at the correct value. In all cases, it is important for clients to assemble all relevant documents related to their property such as bank statements, mortgage payment stubs, retirement statements and other documentation that can shed light on the worth of the asset.

Challenges In Property Division

In challenging economic times, it may be difficult to sell real estate to comply with the requirements of the law. We have helped clients develop agreements that hold the marital home for later sale. Our divorce attorneys can help settle other disagreements and difficulties that arise during the process of dividing assets and debts.

Contact An Everett Asset Separation Lawyer

Call 425-740-2209, toll free at 888-298-1003, or contact us online to schedule an appointment with a Snohomish County asset division lawyer. Our office is conveniently located in the heart of downtown Everett, close to the Snohomish County Superior Courthouse.