How is a divorce settlement divided?

The division of a divorce settlement is determined by the courts in the state of Washington. Generally, all marital property and debts are split evenly between the spouses. Marital property is any property acquired during the marriage, regardless of who is named on the title. Debts are usually divided up in the same way that the property is. Debts incurred prior to the marriage, for example, will typically remain the responsibility of the spouse who started the debt. This should be addressed during the negotiations so that both parties understand what their financial obligations will be. When negotiating a settlement, it is important to consider all of the assets and liabilities of both parties. This includes both tangible and intangible assets such as real estate, retirement accounts, stock options, and other investments. The court will take into consideration a variety of factors when making a decision, including the length of the marriage, the income of both parties, the age and needs of each spouse, the potential future needs of any children, and the ability of the parties to pay their fair share of marital debts. The court may also award alimony, commonly known as spousal support, to either party. The amount and duration of alimony is based on the relative economic situation of each spouse and the standard of living that was established during the marriage. It is important to note that the courts in Washington will only divide the marital assets and debts. Any items that are not considered marital property, such as separate property that was acquired before the marriage, will remain the sole property of the individual who owned it prior to the marriage.

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