How is property and debt divided in a divorce case?
RCW 26.09.080 is the primary statue in Washington state for determining what property each spouse receives in the divorce and what debt each spouse will pay.
The statute provides that the court shall, without regard to misconduct, make such disposition of the property and the liabilities of the parties, either community or separate, as shall appear just and equitable after considering all relevant factors including, but not limited to:
(1) The nature and extent of the community property;
(2) The nature and extent of the separate property;
(3) The duration of the marriage or domestic partnership; and
(4) The economic circumstances of each spouse or domestic partner 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 or domestic partner with whom the children reside the majority of the time.
If you have any questions on the division of property or debt in your case, including a business, retirement plans, real estate, bank accounts or any other property, fee free to contact us. Our phone number is (253) 234-1934.