Division of Assets Attorneys

Washington State is one of the very few states employing the legal model of community property when it comes to divorce. This essentially means that most assets and debts acquired during a marriage are presumed to belong equally to both spouses. However, the court has discretion when it comes to the distribution of community property in a manner that it determines to be appropriate. If you are in the midst of a divorce or planning to file, it is critical to have an experienced Clark County division of assets lawyer on your side. Contact Cohen Family Law, LLC today for your free consultation.

Why Choose a Cohen Family Law Division of Assets Attorney?

• With over 25 years of combined experience, you will have a division of assets lawyer who understands the complexities and intricacies of Washington family law.
• We will aggressively protect your rights and help you devise the right strategy to achieve your goals.
• We work closely with our clients and dedicate ourselves to being extremely attentive to every need that arises throughout the process.

Asset Division in Washington

In a community property state, the amount each spouse has earned is not taken into account when assets are divided. All assets and debts accumulated during the marriage are to be split equally between the parties during a divorce, under RCW 26.16.030. For example, that can include:

• Wages/salaries
• Cash
• Personal property (checking and savings accounts, stocks, bonds, mutual funds)
• Real estate (homes, office buildings, shopping centers)
• Intangible property (copyrights, patents, trademarks)
• 401(k) retirement plans
• Pensions
• Life insurance
• Furniture and electronics
• Commingled property (separate property that has mixed with community funds, e.g., money from an inheritance deposited into a joint checking account)

Although spouses are entitled to an equal share, it doesn’t mean each asset will be split in half. For example, the marital home will likely be awarded to the residential parent or the parent with whom the child will be living. The court may also consider the following factors:

• The amount of each type of property, including separate property.
• The length of the marriage. In short-term (below five years) and childless marriages, the court may order the spouses to return to the financial state they were in before the marriage.
• The financial condition of each spouse after the divorce is finalized. The court will not allow one spouse to be wealthy while the other is very poor.

Unless the spouses come to their own agreement, the court will have the final say on how marital assets are divided and when property will remain separate.

Separate Property

Any property and debts belonging to one spouse before the marriage and after the date of separation are not considered marital property but separate property. Separate property typically includes:

• Money earned before the marriage and after the date of separation
• Real estate owned by one spouse before the marriage
• An inheritance given to one spouse during the marriage
• Property given to one spouse during the marriage

However, separate property can become commingled with community property, making it challenging to convince the court it is not subject to division. For instance, if both spouses’ names are on the deed to an inherited house, or money from an inheritance was deposited into a joint checking account.

We Offer Free Consultations

The divorce process and ensuring your assets are protected can be overwhelming. Rest assured that our Washington division of assets lawyers will fight vigorously to help you achieve your goals. Reach our Vancouver office at (360) 953-5000 or send us a message online today.