It is more common than ever for young couples to remain intentionally child-free or to choose to delay adding children to their family until they have bought a home or establish their careers. Many young couples may grow their family instead by adding a cat or dog to...
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Property Division
What does marital property, community property and separate property mean in a Washington State divorce?
If you’re getting a divorce, you likely feel stressed about what this will mean for you financially. What will happen to your assets? And what will happen to your debts? In Washington State, the judge presiding over your divorce has a lot of room to use his or her own...
Why do people draw up postnuptial agreements?
Postnuptial agreements haven't been around for as long as prenuptial agreements. In fact, only in the 20th century did women gain the right to enter into contracts with their husbands. However, family law attorneys report that they are increasingly being asked to...
Could you be the victim of ‘dissipation of assets?’
Most people have heard about wealthy spouses going to great lengths to hide assets from their soon-to-be-ex to avoid having to share them. That's why people involved in high-asset divorces sometimes hire forensic accountants to ferret out bank accounts, property and...
Be sure intangible assets are included in your settlement
When creating an inventory for purposes of property division, there are certain items that are obvious to include. For example, it is unlikely you would miss cars, furniture or artwork. You also are likely aware that stocks and retirement funds will be part of the...
Collectibles may be a significant value in a property settlement
When you are going through a divorce, you have myriad issues with which to contend. But property division may be the most complicated single issue to resolve, especially if you are looking at divvying up a substantial amount of wealth. And while you will no doubt...
How are IRA’s handled in property division?
If you are planning on getting divorced in the near-future, it is a good time for both you and your soon-to-be ex-spouse to start itemizing your property and other assets. And if you have been part of the workforce for a number of years, you each may have been...
Be sure joint debts are covered prior to accepting a settlement
If you are preparing for a divorce, your focus is likely being pulled in many different directions. This is perfectly normal, but it can also be overwhelming. And among the myriad of concerns with which you are contending, property division may be the most complex....
Whose 401(k) is it, anyway?
Washington is a community property state, which means that when a marriage ends, all of the assets and property accumulated by both parties during the course of the marriage is divided in a fair and equitable manner. This not only applies to tangible assets such as...
Dividing the family home in divorce: it can get complicated, P.2
In our last post, we began looking at the issue of dividing the family home in divorce. As we noted, both couples who cannot agree on who will take the family home can experience complications, not only with determining who has the right to take possession of the...