If you are facing property division in a Seattle divorce, contact Twyford Law Office for a solutions-oriented approach to your asset and property division matters. Our full-service family law firm will listen carefully to your goals and objectives then create a strategy to accomplish these goals.
At Twyford Law Office, we are:
Prepared and capable in both negotiations and litigation;
Able to handle high-asset and complex property division cases; and
Accomplished in helping couples reach an agreement on their property division issues.
Contact our legal team in Seattle today for help with property division in your divorce.
Let an Experienced Seattle Property Division Attorney Help You
Under Washington law, the court attempts to divide marital assets and debts equitably. Equitable does not always mean equal, although that is the court’s presumptive starting point. Experienced legal representation from Twyford Law Office can help to ensure any asset and debt division in your divorce is as fair, efficient, and cost-conscious as possible by assisting with the following:
Identifying all of your assets and liabilities;
Classifying these as marital property or non-marital property;
Valuing these assets; and
Distributing these assets.
To discuss traditional and creative ways of asset and debt division in divorce, contact the attorneys at Twyford Law Office. We will gladly answer your questions and address any pressing concerns you may have about the laws in this area or any other divorce matter.
How Property Is Divided in Seattle
In a Washington divorce, all property and debts are divided and awarded to one party or the other either by agreement or with the court’s assistance. Property includes everything acquired during the marriage like the marital home, other real estate, personal belongings, vehicles, funds in your bank accounts or trusts, investments, stock options, retirement benefits, pensions, and business interests. The division of property is often one of the most contentious aspects of divorce, as many people attach an emotional and financial value to property.
The first step in property division is identifying the existence, nature, and value of all marital (“community”) and separate property. This includes assets and debts and can require the help of an expert or appraiser.
The property division process generally follows three steps:
Each asset and debt is characterized as community or separate
Each asset will be valued by appraisal or agreement; and
Assets and debts are divided between the parties.
Community Property Vs. Separate Property
Washington is a community property state. In a community property state, all property and all debt accumulated during a marriage, including both spouses’ income, is presumed community property and belongs to both spouses.
Property acquired prior to the marriage, property acquired by gift or device, and some personal injury settlements are considered separate property of the spouse who acquired it.
Valuation of Assets
Assets may be valued through sale, expert appraisal, or agreement. Valuation is often the most contentious part of any property division in divorce.
In Washington, assets are divided equitably, not equally. This usually means fair under the circumstances. The court tries to make asset division “just and equitable” to both parties. Fault is not considered when dividing property.
When deciding how to equitably divide property, the court may consider the following:
The nature and extent of the community property;
The nature and extent of the separate property;
The duration of the marriage; and
The economic circumstances of each spouse at the time the division of property is to become effective.
Contact an Experienced Seattle Property Division Attorney
Determining how to divide assets and share debt that accrue during a marriage is one of the more stressful aspects of a divorce. At Twyford Law Office, our attorneys are experienced and knowledgeable in all aspects of Washington asset and debt division. We know how to protect our clients’ rights and how to achieve our client’s desired results.
Contact Twyford Law Office in Seattle today to schedule your confidential consultation with a property division attorney.