In Washington State, which follows community property laws, all marital assets are typically split equally in the event of a divorce unless a court determines otherwise or spouses mutually agree to a relatively uneven division of their marital property. Before a fair...
Property Division
Is income earned during marriage always community property?
On Behalf of Lutz & Associates, P.S. | Mar 5, 2025 | Property Division
In most cases, yes. However, there can be exceptions and complications. Community property refers to assets and income acquired by either spouse during marriage. In a community property state like Washington, both spouses have equal ownership rights to wages,...
Dividing investment accounts and retirement funds during divorce
On Behalf of Lutz & Associates, P.S. | Feb 10, 2025 | Property Division
Dividing assets during divorce can be complex, often especially when a couple’s marital estate features investment accounts and retirement funds. These financial assets often represent significant value and are subject to specific legal and tax considerations as a...
Is inheritance divided in a Washington divorce?
On Behalf of Lutz & Associates, P.S. | Jan 29, 2025 | Property Division
Washington follows a community property system for divorce. Under this rule, all assets and debts obtained by either spouse during the marriage are community property. There are exceptions when it comes to separate property, such as assets acquired before the marriage...
Is moving out of the marital home during divorce abandonment?
On Behalf of Lutz & Associates, P.S. | Jan 2, 2025 | Property Division
The early stages of divorce often involve many abrupt changes. People often freeze some of their financial assets. They stop pulling money from joint savings accounts and close shared credit cards. They may have to find someplace new to live. If they have children,...
Should you keep your home after divorce?
On Behalf of Lutz & Associates, P.S. | Jan 2, 2025 | Divorce, Property Division
For many, the family home is not just a significant financial asset but also a place of sentimental value. Deciding whether to keep the home after a divorce involves several considerations, from financial impacts to emotional ties. What questions should people ask...
How to fairly divide property and assets during a divorce
On Behalf of Lutz & Associates, P.S. | Dec 10, 2024 | Property Division
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...
How to protect your company when divorcing your business partner
On Behalf of Lutz & Associates, P.S. | Dec 4, 2024 | Property Division
Divorce affects everyone profoundly, but the stakes soar even higher when it involves your business partner. The company you built together, with hard work and shared vision, becomes vulnerable during this process. Protecting it is essential. When business and...
When are properties divided unequally?
On Behalf of Lutz & Associates, P.S. | Nov 13, 2024 | Property Division
A massive concern during divorce that most spouses stress over is what will happen to the property accumulated during the marriage. While Washington courts strive to divide property equally, there are circumstances under which they may deviate from this principle....
3 issues to address when a divorce involves a professional practice
On Behalf of Lutz & Associates, P.S. | Oct 14, 2024 | Property Division
Many professionals with college degrees, graduate degrees and state licensing prefer to be their own bosses rather than to work for established companies. Physical therapists, accountants and many other educated professionals may decide to start their own professional...
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