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Equitable distribution in Bellevue high-asset divorces is a leading concern for many couples. The dollars, property, and other assets involved in this part of the divorce process can significantly impact the lives of all involved. For every case, we apply a holistic approach to equitable distribution that prioritizes the significance of high-value assets for your business, career, and personal satisfaction.
At Twyford Law Office, we will use our 40 years of family law experience to help identify and protect what matters most regarding your assets. Contact our attorneys to learn more about the potential issues when dividing your most valuable property during a divorce and discuss how our representation could help your case.
The first issue for divorcing spouses in Bellevue is determining which high-value assets are subject to equitable distribution. In general, RCW 26.16.030 recognizes assets bought after marriage as community property, and spouses have a right to an equal share of these assets. Examples of marital property could include the following types of assets:
During a divorce, disputes often arise over the proper classification of assets owned in a marriage.
Although property either spouse acquired before a marriage is typically separate and not subject to equitable distribution, it may become community property during the marriage because of commingling and other factors that enable a spouse to claim an equal share. For example, real estate bought before the marriage could become community property if the other spouse contributes to mortgage payments or repair work that improves its value. These principles can also apply to debts or liabilities incurred before and during a marriage.
The process for equitable distribution in a high-asset divorce usually begins with each spouse providing a financial disclosure of their assets and liabilities. Our divorce lawyers work with experienced accountants and financial planners to properly review these disclosures and help clients determine which assets they want to pursue in a settlement or court order.
The input of an attorney can be critical for protecting a spouse’s interests when dividing assets, with specific issues including:
If divorcing spouses cannot agree on how to divide their assets, a court will consider several factors outlined in RCW 26.09.090. The court willmake a ruling on the equitable distribution of property, with factors including the nature of the property, the length of the marriage, and the economic circumstances of each spouse. A court may award a specific property to one spouse over the other. Alternatively, the spouses may be forced to sell the property if it would be unfair for one spouse to keep it over the other, with the proceeds distributed under the court’s order.
Another issue impacting Bellevue divorce high-asset distribution is the terms of any marital agreement between the spouses. At Twyford Law Office, we can help you evaluate the enforceability of a pre- or postnuptial agreement and review how it may influence the equitable distribution of assets.
An aggressive stance is sometimes necessary to preserve your right to an equitable distribution in Bellevue high-asset divorces. The experienced lawyers at Twyford Law Office understand this reality and provide a confident, well-measured voice to fight for your goals.
Call us today to schedule a free consultation with one of our dedicated divorce attorneys.
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