The divorce process in Washington involves many important decisions. Spouses may have to find ways to share custody. They also have to make major decisions about separating their finances. There may be a need for financial support, and spouses have to divide their resources as well.
The longer people remain married and the more property they accumulate during the marriage, the harder it becomes to fairly address marital property. Both spouses may have an interest in retaining the same assets, and they both likely want as much of the marital estate as they can keep. Although community property rules can lead to an even split of property, that isn’t always what happens.
How do people ensure that they reach a fair and reasonable settlement when trying to negotiate property division matters in a Washington divorce?
Perform a thorough financial review
Reaching a fair determination is only possible if spouses have an accurate understanding of the marital estate. They each need to produce an inventory of assets and debts. They may include both marital resources and separate property on those inventories.
Both physical property and financial assets can be part of the marital estate. The marital estate may also include financial obligations, such as credit card debts or mortgages. Couples need to understand the totality of the marital estate and also the separate properties of each spouse to negotiate a fair arrangement.
Consider marital circumstances carefully
Should the spouses litigate property division matters, a Washington family law judge must apply the state’s community property statute to marital assets and debts. The factors judges consider when dividing property may include the duration of the marriage, the paid and unpaid contributions of each spouse to the household, the custody arrangements for any shared children, the earning potential of the spouses and the health of the spouses.
Those attempting to negotiate a fair and appropriate settlement outside of court often need to factor in those same considerations. While judges often don’t consider marital misconduct, those attempting to settle property division matters privately can address concerning forms of misconduct.
Infidelity, wasteful misuse of marital property and other behaviors can influence what is fair given marital circumstances. Divorcing spouses often need help trying to be as objective as possible while simultaneously pushing for the most favorable outcome they can achieve.
Learning more about the Washington community property statute can be a good starting point for those worried about complex property division in an upcoming Washington divorce. Spouses who seek legal guidance may feel more satisfied with their property division settlements after their divorce than those who rush through the process or try to handle it without support.
