The Court in your dissolution of marriage proceeding is required to divide the property and liabilities in an fair and equitable fashion, without consideration of marital misconduct. This is the concept of a no fault divorce. Specifically, RCW 26.09.080 provides the Court authority based on specific factors to divide the marital property. Those factors include (1) The nature and extent of the community property; (2) The nature and extent of the separate property; (3) The duration of the marriage; and (4) The economic circumstances of each spouse at the time the division of property is to become effective, including the desirability of awarding the family home or the right to live therein for reasonable periods to a spouse with whom the children reside the majority of the time.
However, pursuant to RCW 26.09.070, you can reach an agreement with your spouse and enter into a Separation Contract or Property Settlement Agreement without Court intervention. Depending on the specific circumstances of your case, it may be cost effective for you and your spouse to reach an agreement regarding the division of property and liabilities without having to incur substantial fees and costs with prolonged litigation. There is always a balancing of the amount in controversy versus the cost of going to Court and having a judicial officer determine what is fair and equitable. It is also entirely possible that what the Court believes is fair and equitable is completely different from what you and your spouse may be willing to agree upon.
Tsai Law Company, PLLC
2101 4th Avenue Suite 1560
Seattle, WA 98121
1-425-DIVORCE (348-6723)
Email:
support@TLClawco.com
Washington is a Community Property state. Therefore, there
is a presumption that all property and debt acquired by
you and your spouse during the marriage is Community
Property. This means you have a one-half undivided
interest in the property while you are married. Now
that the property is being divided, the Court has a duty
to characterize the property as either separate or
community and divide it in a fair and equitable fashion.
Separate property, generally, is property that was owned
by you prior to your marriage, was inherited by you
pursuant to a will or intestate succession, or was gifted
to you.
Call toll free 1-877-728-8001 or (206) 728-8000 or 1-425-348-6723 (1-425-DIVORCE) and speak with one of our Seattle divorce and family law attorney's to discuss the division of property and liabilities incident to a dissolution of marriage proceeding.
Please visit our
home page for additional information about our Seattle
Divorce Lawyers.
