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...
Can spouses share custody of a family pet post-divorce?
On Behalf of Lutz & Associates, P.S. | Jan 29, 2024 | Property Division
People who have a pet in their families may include their dog or cat in almost all family activities. They may plan vacations based on what hotels allow them to bring their pets and may give their pets gifts on the holidays. Those who don't have children might refer...
Can you close a shared bank account during divorce?
On Behalf of Lutz & Associates, P.S. | Dec 15, 2023 | Property Division
Closing a joint bank account can be important during a divorce. For instance, perhaps both you and your spouse use the same bank account for your paychecks. The divorce process can take months and, if you’re separated, you probably each want to have your own bank...
What financial rights does a stay-at-home parent have during divorce?
On Behalf of Lutz & Associates, P.S. | Dec 13, 2023 | Property Division
Raising children is a very expensive and demanding endeavor. Parents commit a large portion of their income to meet the children's needs, from healthcare costs to new clothing as they continue growing. Children need someone to get them ready for school in the morning...
Easily overlooked financial concerns in a high-asset divorce
On Behalf of Lutz & Associates, P.S. | Nov 22, 2023 | Property Division
When you’re going through a divorce, you only want what’s fair, but dividing the marital assets is often easier said than done, especially when there are a lot of them. Even though you and your spouse are expected to be transparent about your assets during the...
Will parents divide a 529 plan during a Washington divorce?
On Behalf of Lutz & Associates, P.S. | Oct 31, 2023 | Property Division
College tuition is often the single biggest financial investment parents will make for their children's future. It can add up to years of basic cost-of-living expenses for the children and the family. A single year's tuition at certain institutions may be more than...
Is deferred compensation at risk during a Washington divorce?
On Behalf of Lutz & Associates, P.S. | Oct 24, 2023 | Property Division
Most people preparing for divorce in Washington disagree with their spouses about at least a few property matters. Some people argue over who should stay in the marital home. Others may disagree about how to share credit card debt. The more marital property people...
What do Washington homeowners need to know before divorcing?
On Behalf of Lutz & Associates, P.S. | Oct 12, 2023 | Property Division
When a divorce happens, the court will generally award each party their own separate property and divide the marital property between them. Since Washington is a community property state, it’s presumed that everything acquired after the marriage began belongs to a...
When you get divorced, can you keep your house?
On Behalf of Lutz & Associates, P.S. | Aug 28, 2023 | Property Division
Some people end up facing divorce and realizing that one of their main areas of focus is keeping their home. There are many different potential reasons for this. Maybe they think that the housing market is too competitive, so they don’t want to risk not having...
What options do you have for your house in a divorce?
On Behalf of Lutz & Associates, P.S. | Aug 14, 2023 | Property Division
Dividing assets during a divorce can sometimes become complicated. There are assets that make things a bit easier, such as financial accounts. They can just be split between two people. But what do you do with something tangible, like a house? How do you address that...
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