Division Of Marital Assets And Debt
The division of marital assets and debt is a very important part of the divorce process in Tacoma, Washington. Couples have to determine how to split up the assets and financial obligations that they own jointly as they dissolve their marriage.
That is where I can help. I am attorney Teena Johnson, and I have over 20 years of experience that I bring to every divorce case. I am a property division lawyer who can help with simple divorces where couples are on amicable terms and complex divorces that may include business valuations and other key steps. My experience helps me navigate this process, whether going through mediation or litigation.
Is Washington A Community Property State?
Yes, Washington is a community property state, so couples own their marital assets equally. Courts tend to seek an equal division of assets and debts, splitting things up as close to 50-50 as possible.
How Can You Protect A Business During A Divorce?
You may be interested in protecting business assets, especially under community property laws, as your spouse may have a claim to a percentage of the business’s value. Not only is a business valuation an important step, but you also need to consider your options carefully. Some couples use prenups or postnuptial agreements. In the absence of these standing agreements, you may be able to give up other marital assets in order to keep 100% of your business. Every case is unique, but I can help you find a solution.
How Does Mediation Help During Asset Division?
When it comes to mediation and asset division, there are some significant divorce mediation benefits. Namely, mediation means that the couple works together to find solutions that are acceptable to both of them. This gives them more control over the outcome, rather than going through litigation and having a judge make a ruling.
Mediation is also confidential, while litigation may be a matter of public record. Going through mediation is often faster and cheaper than going to court, so it can be a way to expedite the divorce process, especially when couples are on amicable terms and already agree about the general division of assets.
Call Today For A Consultation
To meet with a property division attorney in Tacoma, just call the Law Office of Teena Johnson at 253-210-2872 or use the online contact form to schedule your initial consultation today.