What to know about property division in Washington

What to know about property division in Washington

Among the most fraught, unpleasant and hotly contested issues in any divorce is property division. There is often so much baggage, both literal and emotional, in property division that it’s hard to make smart, effective decisions. However, if you have a clear idea of the process works in Washington, it can go a long way to resolving your anxieties and uncertainties. Below are some common questions from clients and short answers to help you move forward.

Is Washington a community property state? Is that a good thing?

Washington is a community property state that is neither good nor bad. It means that the entirety of the marital estate is the equal property of both spouses. During divorce, both spouses receive an equal share of that.

What is marital property?

Marital property is any property acquired during a marriage, which is not separate property. Often this includes:

• Homes
• Vehicles
• Bank accounts
• Businesses started during the marriage
• Portions of retirement accounts

This is not a complete list by any stretch of the imagination. Another part of the “community property” conversation is debts. Each debt taken on by either party is the liability of both spouses.

What is separate property?

Separate property is property that belongs only to one spouse in a marriage. The law considers all property either spouse possessed before the marriage separate property. Also, any gift or inheritance to just one spouse is separate property.

Will I have to give up half of my business/home/cherished property?

This is a complicated question. Homes and businesses are complex items, and there are often many difficult negotiations in the property division process. You may be able to work out a deal to keep total control of your business. You may get full possession of your home. You may not. As for cherished smaller items, such as artwork or jewelry or perhaps even an exceptionally comfortable chair, there is an excellent chance that these may fall under the category of “separate property.” Even if they do not, property division is a negotiation, and you can clarify your priorities, and if a chair is important to you, you may be able to keep it.

We’re here to answer your questions

Envision Family Law takes every step to offer practical, realistic guidance in any family law concern. We know your problems are complex, and we are here to listen.