Kirkland Divorce Attorneys
Let one of our Kirkland property division attorneys help protect what's yours.
Insofar as marriage results in an economic partnership where assets are thereafter shared, when parties decide to end their marriage, these assets, including property, must consequently be divided. In some cases, this process is simple, and on other occasions it can be very complex. Under Washington State Law, most property acquired after marriage is considered community property. This means that all of the property that spouses acquire during the period of marriage - whether it be real estate, vehicles, household goods, or other purchases - is owned equally by each, even though one spouse may provide most of, or all financial earnings. There are, however, important exceptions to these rules, such as inheritances, sums received from personal injury lawsuits, and certain categories of gifts. In addition, property obtained prior to marriage will usually be considered as separate property, although this is not necessarily the case.
At first glance, the concept may seem quite simple, but remember that everything is subject to a court's interpretation, thereby highlighting the importance of working with an attorney who is well-versed in the intricacies and complexities of Washington State divorce law. By doing so, you are helping to ensure that your property and assets will be fairly divided.
Much like the case for spousal maintenance guidelines, there is no fixed and mathematical method for determining exactly how property should be divided. In fact, all property - whether community or separate - is up for consideration before the court and available for division as the court deems fair and just. Nor does this division have to be equal.
Whether it be the allocation of sums of money or real property values, the complexity of property division cannot be overstressed. How these assets will be characterized under both divorce and property law depend on several factors, such as contributions of each spouse during the marriage, the length of the marriage, the financial resources of each party, the type and extent of separate or community property, and any number of other particular circumstances.
Additionally, any number of problems may arise regarding complicated assets, issues with tracing sources of investment or fund provisions used to acquire litigious assets, retirement plan benefits, professional practices, and personal investments. Parallel to divorce and property law concerns are also tax law implications that apply to financial transactions involved, and which vary depending on the type transaction and obviously the amounts involved.
Schedule a free initial consultation with one of our Kirkland property division attorneys today!
Help protect your property and valued assests by contacting one or our Kirkland property divsion attorneys.