Dividing assets and financial responsibilities is a key element of any divorce in Washington. Some couples already have arrangements outlined in marital contracts, such as prenuptial agreements. Others may have to settle matters during divorce negotiations or prepare...
Is a business the separate property of one spouse?
On Behalf of Lutz & Associates, P.S. | Aug 27, 2024 | Property Division
Some people start businesses after getting married. They invest marital income in the company and may even rely on the unpaid work of their spouse to get the company off the ground. If they later divorce, their business is likely part of the marital estate. They may...
What happens if your ex-spouse files for bankruptcy?
On Behalf of Lutz & Associates, P.S. | Aug 22, 2024 | Divorce, Property Division
If you and your ex-spouse took on joint debts during your marriage, you may both be legally responsible for them even after divorce. These debts can range from credit card debt to home equity loans. But what happens if your ex-spouse files for bankruptcy? You may be...
What financial preparations can I make for the divorce?
On Behalf of Lutz & Associates, P.S. | Jun 20, 2024 | Property Division
Divorce can involve various adjustments, affecting your and your family’s life. Emotions can also run high during this period, making the transition stressful and overwhelming. You and your former spouse may need to brace yourselves when tackling issues that can...
Building a foundation for financial stability after a divorce
On Behalf of Lutz & Associates, P.S. | May 17, 2024 | Divorce, Property Division
Divorce is one of life's most challenging events, especially when it means stepping into the world of financial independence. If you left your career during your marriage to support your family or home, the thought of financially supporting yourself post-divorce in...
Dividing properties when you divorce without children
On Behalf of Lutz & Associates, P.S. | May 8, 2024 | Divorce, Property Division
Divorce is never easy for any couple going through separation. Even for a family with no children, the divorce process could remain overwhelming as they shift focus to property division. An equitable asset distribution is crucial to prevent disputes and lead to a more...
How do community property states divide retirement accounts?
On Behalf of Lutz & Associates, P.S. | May 8, 2024 | Property Division
In community property states like Washington, the law views most property acquired during a marriage as belonging jointly to both spouses. Community property rules aim to divide marital assets equally between spouses in a divorce. Splitting a retirement account is not...
When can asset division in a divorce be unequal?
On Behalf of Lutz & Associates, P.S. | Apr 15, 2024 | Property Division
One of the most contentious issues in a divorce is often the division of assets. In Washington State, the law aims for a fair split between spouses. In some cases, this means that parties will divide marital property equally, per community property laws. However,...
Can someone protect their retirement savings during divorce?
On Behalf of Lutz & Associates, P.S. | Feb 28, 2024 | Property Division
One of the most common concerns people raise when preparing for divorce is the potential impact on their long-term financial plans. The end of a marriage can be expensive and might force someone to make major adjustments to their plans for life. People often worry...
What does community property mean in a divorce?
On Behalf of Lutz & Associates, P.S. | Feb 13, 2024 | Property Division
In Washington State, the concept of community property plays a crucial role in the division of assets during a litigated divorce. As one of the few states in the U.S. that adhere to community property laws, Washington operates under the principle that all property...
Recent Posts
Archives
- October 2024
- September 2024
- August 2024
- July 2024
- June 2024
- May 2024
- April 2024
- March 2024
- February 2024
- January 2024
- December 2023
- November 2023
- October 2023
- September 2023
- August 2023
- July 2023
- June 2023
- May 2023
- April 2023
- March 2023
- February 2023
- January 2023
- December 2022
- November 2022
- October 2022
- September 2022
- August 2022
- July 2022
- June 2022
- May 2022
- April 2022
- March 2022
- February 2022
- January 2022
- December 2021
- November 2021
- October 2021
- September 2021
- August 2021
- July 2021
- June 2021
- May 2021
- April 2021
- March 2021
- February 2021
- January 2021
- December 2020
- November 2020
- October 2020
- September 2020
- August 2020
- July 2020
- June 2020
- May 2020
- April 2020
- March 2020
- February 2020
- January 2020
- December 2019
- October 2019
- September 2019
- August 2019
- July 2019
- June 2019
- May 2019
- July 2017
- July 2016
- November 2015
- August 2015
- July 2015
- June 2015
- September 2014
- August 2014
- September 2013
- September 2012