Property Division

WP_20130828_048In Washington the assets of the parties are characterized as either community property or separate property. The Court in your dissolution of marriage proceeding is required to divide the property and liabilities in a fair and equitable fashion, without consideration of marital misconduct. This is the concept of a no fault divorce. Specifically, RCW 26.09.080 provides the Court authority based on specific factors to divide the marital property. Those factors include (1) The nature and extent of the community property; (2) The nature and extent of the separate property; (3) The duration of the marriage; and (4) The economic circumstances of each spouse at the time the division of property is to become effective, including the desirability of awarding the family home or the right to live therein for reasonable periods to a spouse with whom the children reside the majority of the time.

The character and extent of assets need to be determined and valued including real estate, securities, pensions (Private, Federal, State and Military) other retirements such as IRA and 401(k) plans which require specialized orders to divide.

Divorce cases involving substantial assets or complex estates require specialized knowledge. Mark is experienced and skilled in identifying and valuing assets, businesses and wealth, including real estate, securities, retirement funds and pension plans and other actual or potential sources of wealth.