Equitable Distribution in Seattle High-Asset Divorces

For wealthy couples, equitable distribution in Seattle high-asset divorces is one of the most challenging aspects of ending a marriage. Washington family law adheres to a community property system for divorces, mandating an equitable split of the property, assets, and debts the couple accumulated during the marriage. 

Understanding the process and available tools is essential to protect your rights and interests. Contact the Twyford Law Office to speak to a qualified high-net-worth divorce attorney. 

What Is the Difference Between Community and Separate Property? 

A state statute divides all property into two categories when couples enter into divorce proceedings. Under Washington Revised Statute § 26.16.030, community property includes most assets and debts acquired by either spouse during the marriage. Even real estate or vehicles held in one spouse’s name are still considered marital property. 

All property and liabilities a couple acquires from the start of their marriage to the date they file for divorce—whether through either individual’s labor, earnings, or joint effort—are subject to division. Separately owned assets are those that either spouse brings into the marriage or those considered solely owned, such as gifts and inheritances. Another way to avoid commingling issues is by using a valid prenuptial or postnuptial agreement. 

What Is Commingling? 

Commingling occurs when a couple mixes solely owned property, such as inheritances, with jointly owned property, such as depositing an inheritance into a joint bank account. If the couple uses it for marital expenses, the court may determine that it is community property. The judge may seek to trace the funds, but without up-to-date and thorough recordkeeping, this may not be possible. 

If you are looking online for an “equitable distribution divorce lawyer near me,” our attorney at Twyford Law Office in Seattle is experienced in handling high-asset cases and could answer your questions. Assets become more intertwined in long-term marriages, with separate and community property tending to merge without a carefully planned agreement. 

Valuation of Assets

If you are a high-net-worth Seattle resident searching online for a “fair asset division lawyer near me,” our seasoned divorce attorney could help. Property valuation tools are often used for this process. Determining the value of community and separate property is necessary but can be contentious. Couples may disagree on the monetary value of property and how to divide it. Fortunately, there are many services and tools available to help you value your property and assets, such as: 

• An asset-based approach, which calculates a business’s current value by subtracting its total liabilities from the total assets 
• An income-based approach, which projects a company’s future earnings based on historical performance and is typically used for highly profitable companies with consistent cash flow 
• A market-based approach, which compares a business to similar organizations that have recently sold in the market 
• Some field experts may use a combination of two or more methods to determine the most accurate value 
• A professional appraiser would use fair market value and compare other real estate sold in the area to determine the total value
• A specialist could establish the monetary value of pensions and retirement accounts by using a calculation to determine the current value of future payments 

Real estate appraisers, certified public accountants, forensic accountants, and financial advisors are all potential valuators that you may need throughout the distribution process.

Call Today To Speak With a Seattle Attorney Experienced in the Equitable Division of Marital Property in High-Asset Divorces 

Entering into divorce proceedings presents numerous challenges, particularly for high-net-worth couples. You must determine whether the property is community or separate and divide everything as evenly as possible. 

Marital contracts, such as prenuptial agreements, are often involved during high-asset divorce proceedings, and determining property divisions usually requires professional valuation services. Our dedicated legal team at Twyford Law Office could guide you through the entire process. Call now to learn more about equitable distribution in Seattle high-asset divorces.