Not all marriages are said to last for a lifetime, and this is okay. However, it isn’t easy to live with a person whose mental wavelength does not match. At times like these, people consider getting divorced. With divorce comes property division. When looking for Wa state divorce lawyers, one has to settle his property with her partner per the Washington divorce rules. Given below are the rules of property division for divorce cases in Washington.
Community property in Washington
Since Washington is a community state, all the property and assets acquired by both parties (husband and wife) are considered equally owned by both of them. As a result, after divorce, all the properties and assets they have are equally split between the two.
However, there are still some exceptions in the case of separate property. For example, if an asset or property has been given to one as a gift, then the ownership of that particular asset or property is solely enjoyed by the person who has received it. Again, if a property was acquired before marriage or after separation, it is considered the sole property of the one who has acquired it.
To ensure that a person enjoys sole possession of a property as its owner, one has to ensure that he does not deposit money in a joint bank account or add the partner to the legal deed of the property. If these things happen, it will be difficult for the Wa state divorce lawyers to divide the property and help one get its sole possession.
Similar to community property in Washington, if one partner has taken a debt during their marriage, both are held responsible for it. In case of debts, the courts will look into both parties’ economic backgrounds to ensure they are capable enough to pay the debt. If it is seen that one earns less than the other, less debt amount will be assigned for that party.
Division of assets
Since Washington is a community state, all assets acquired by both parties have to be divided equally between the two. Here, assets include both real estate properties and financial assets. Stocks, bank accounts, 401Ks, and IRAs, are exempted from it. If none of the parties can agree, the judge will take the matter, and his decision will be considered final.
One of the biggest problems arises when an asset or property is claimed by one party as a separate property instead of a community property. This is sure to lead to disagreements.
According to the divorce laws of Washington, if an asset was given to the spouse as a gift, it can be considered separate property. For example, if a husband buys a car for his wife, both are intended to be used for the rest of their lives. Many may not prefer sharing assets like this. It is suggested by Wa state divorce lawyers to document the receipt of the gift and produce it as a divorce document.
Now that all the doubts about the property and asset are cleared filing a divorce case in Washington will pose problems. Also, getting help from the best state divorce lawyers in Washington will help one be guided in the best way.