Division of Property
Washington is a community property state. Some community property states require that community property be divided equally upon divorce. In Washington divorce cases, the court has jurisdiction over all property – separate and community – and is required to divide all property equitably.
Under Washington law, assets and debts accrued during the marriage are typically considered to be community, while assets and debts acquired pre-marriage or post- separation are considered separate property. However, it is possible for the court to award one spouse’s separate property to the other spouse in order to achieve a fair and equitable distribution of property.
How does the court decide how to divide property?
Some of the factors considered by the court might include:
- The length of the marriage.
- The ages of the spouses.
- Financial needs.
- Prenuptial agreement.
Assets in a Divorce Subject to Division
Each case is unique and the assets divided upon divorce vary greatly from case to case. However, common assets may include:
- Money – This can include cash, funds in your checking, savings and investment accounts.
- Home – The family home and any other real estate is real property and an asset that is commonly divided upon divorce.
- Retirement – This includes funds such as pensions and 401(k) accounts.
- Business – Any businesses owned by the parties.