Division of Assets Issue In Divorce Cases Discussed by Anderson Hunter Family Law Department in Recent Article
Everett, WA (PRWEB) October 29, 2014 -- “When a couple chooses to file for divorce or legal separation, their debts, property, and other assets need to be divided between them,” explains Anderson Hunter’s Family Law Department in a recently released article on the division of assets in a divorce case.
“The process must result in an ‘equitable’ distribution,” they continue, “However, many people misinterpret ‘equitable’ to mean ‘equal,’ and expect the assets, property, and debts to be divided exactly in half.” The article goes onto explain why this is often not the case.
Washington is a community property state. As a general rule, all assets and property obtained during the duration of the marriage are equally owned by both spouses. However, as with most rules, there are exception, and spouses may also own separate property, which only one of the spouses may then be entitled to receive. Understanding the difference is critical in an equitable division.
Community property within a marriage that will need to be divided includes nearly everything of value; money, retirement funds, homes and other property, investments, taxes, and any businesses or business interests that the couple owns, among other things.
According to the article, “Complex divorce cases in which the marriage has lasted many years and a lot of property has been accumulated will find the expertise of a divorce attorney particularly helpful. Your attorney will protect your interests throughout the process and ideally work toward an agreed settlement when possible.”
The article also mentions that Anderson Hunter’s Family Law Department recently released an eBook explaining the legal and logistical details of the divorce process, with basic information and recommendations for those considering divorce, and emphasizing why a divorce attorney is an important part of the process.
“Many people decide that they don’t need an attorney to help and attempt to work through the process on their own. However, there are numerous disadvantages to doing so,” says The Family Law Department at Anderson Hunter Law Firm.
To download their recently released eBook, visit their website at: http://www.andersonhunterlaw.com/about/news/archives/2014/10/09/free_ebook_guide_to_the_divorce_process_available_for_download
About The Family Law Department at Anderson Hunter Law Firm:
The attorneys in the Family Law Department at the Anderson Hunter Law Firm, G. Geoffrey Gibbs and Laurie Ummel, have decades of legal experience and are well-recognized within their field. They routinely handle all types of family law issues including divorce, child custody, relocation, parenting plans, child support, non-parental custody actions, adoptions and more. The Family Law Department at Anderson Hunter is one of the pre-eminent and most respected firms in the field in the Northwest, most often handling cases in Snohomish, Skagit, Island, San Juan and selective King County cases. Take advantage of a free consultation and call to make an appointment with Geoff or Laurie today.
Anderson Hunter Family Law, Anderson Hunter Family Law, http://www.andersonhunterlaw.com/personal/family_law, +1 360-631-9441, [email protected]
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