How do I divide non-marital and marital assets in a collaborative divorce?

In a collaborative divorce in Washington, non-marital and marital assets are divided based on a variety of factors such as each party’s contributions to the marriage, potential tax consequences, the current value of the asset, and each party’s future income-earning potential. Non-marital assets are those that were owned prior to the marriage, or that were inherited or gifted to one or both of the spouses during the marriage. Marital assets may include residences, cars, bank accounts, retirement accounts, investments, and furniture. Initially, each party should identify the property they own, and determine what is marital versus non-marital property. Next, the spouses usually enter into a proposed settlement agreement that addresses the division of their marital property. This agreement may be completed through independent negotiation, or with the assistance of their attorneys. In Washington, the divorce court may divide only the marital property. Any non-marital property is not subject to division by the court. Therefore, it is important for each spouse to be aware of their separate property. Each spouse typically retains ownership of the non-marital assets, but the court may order a reimbursement to one spouse for contributions to that asset. It is also important to note that the court reserves the right to change the division of the marital assets, typically on the basis of one spouse unfairly receiving the majority of the assets. If the spouses and attorneys cannot reach an agreement on the division of property, the divorce court will make the final decision.

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How do I divide non-marital and marital assets in a collaborative divorce?

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