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Property Division
Helping You Protect Your Interests
When a marriage has fallen apart, there are many decisions that need to be made, and some of these concern the division of marital property. Here at the Law Offices of Amy McDowell, we know that this is a difficult time for you, and we are dedicated to helping you protect your interests.
Marital Property or Separate Property?
According to the Washington Family Code, marital property is considered any property or asset that was acquired during the course of your marriage. This property includes the following:
• Real estate: the marital home, vacation properties, rentals and timeshares
• Vehicles: motorhomes, boats, motorcycles, jet skis, etc.
• Bank accounts: savings and checking accounts
• Collectible pieces: sculptures, paintings and antiques
• Family businesses: equipment, revenue and future growth
• Investment accounts: pensions, ROTH accounts and 401(k)s
Separate property is generally any asset that was attained prior to the marriage as well as inheritances, gifts or awards from personal injury lawsuits. However, sometimes separate property can become marital property. Our attorney can look at your situation and help you determine what is marital property and what is not.
Explaining Equitable Division
Under state law, marital property is divided equitably, and it is important to understand that this does not always mean you will receive half and your spouse will receive the other half. Rather, you could receive more or less than half, depending on your financial base and other factors. For example, if you have been married a while and you are the primary caregiver for your children, you will probably receive more of the marital assets.
We can help you put together a clear picture of your current status and needs to help make sure that you receive a portion of the marital assets that is fair.
Answering Your Questions
Dealing with a family law matter can be difficult, but we are ready to answer your questions. Call the Law Offices of Amy McDowell at 215-555-5000 or toll free at 800-550-5500 to set up a free initial consultation. You can also reach us through our online form.
