Washington Property Distribution Lawyer
When a married couple divorces in Pennsylvania, their property is divided under equitable distribution law. This is different from community property states, as marital property is divided fairly, although not necessarily equally. In community property states, all marital property is considered community property and so, each spouse has equal rights to it. The courts will take a number of factors into consideration when dividing marital property. Below, our Washington property distribution lawyer explains what these are.
Separate vs. Marital Property in Washington
During divorce, only marital property is divided. Separate property refers to any assets or liabilities acquired by one spouse before the marriage and is not divided during divorce. Marital property, on the other hand, refers to assets and liabilities acquired by one or both spouses during the marriage. However, there are times when marital property is considered separate.
For example, gifts given during the marriage and inheritances received during the marriage are considered separate property. On the other hand, if separate property is commingled with marital property, it can be classified as marital property. For instance, one spouse may start a business before they get married and so, it is considered separate property. If the profits of the business are used to contribute to the household, though, this can change the classification of the business to marital property.
Additionally, a couple may draft a prenuptial agreement before they get married or a postnuptial agreement after the wedding. These contracts override the equitable distribution laws. For example, if a prenuptial agreement states that one spouse’s business will remain separate property, it is not divided during divorce even if the assets were commingled throughout the marriage.
What Factors Will a Court Consider?
A court will consider many factors when dividing marital property. These include:
- The length of the marriage
- Any previous marriages of either spouse
- The age of both spouses
- The health of both spouses
- The income of both spouses
- Any tax implications of property distribution
- Amount of separate assets owned by both parties
- Who will have custody of the children
- The contributions either spouse made to the marriage or the other spouse’s education or training
- Earning capacity of each spouse
- Standard of living throughout the marriage
Division of Debts in Washington
The divorce process will divide more than just assets. Liabilities such as debts are also divided. These can include auto loans, mortgage, credit card bills, tax obligations, home equity loans, and more. For example, even if a credit card was in one spouse’s name only, both spouses may be liable for the debt during divorce.
Our Property Distribution Lawyer in Washington Can Advise On Your Case
Property division proceedings always have the potential to become very complex and contentious during divorce. At Bunde & Roberts, P.C., our Washington property distribution lawyer can make things easier by helping you identify your goals and negotiating with the other side so you obtain the full settlement you are entitled to. Call us now at 412-391-4330 or chat with us online to schedule a consultation and to get help from our experienced attorney.
