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Dividing assets between a divorcing couple

Divorce often involves many difficult issues, such as child custody, spousal and child support and division of assets, which are difficult to resolve at times. Washington law requires that all assets and liabilities of the divorcing couple must be divided fairly. Equitable property division does not necessarily mean that the property division will be equal.

Apart from determining which property will be considered "separate" and which will be considered "community," there is often a difference of opinion regarding the value of the property. Issues such as determining the nature and value of the property often lead to disputes between the divorcing spouses.

Getting the right information about your options can help resolve such issues between the divorcing couple by identifying community property, which will be divided in the divorce. The assets that are usually subject to division include real estate, vehicles, investments, pension funds, collectibles and artwork.

Divorce not only involves dividing the assets, but it also involves splitting up the liabilities, such as loans and credit card debts. Apart from helping to divide assets and liabilities, the right legal approach will usually also help with the valuation of property.

Disputes related to property division can also be resolved through negotiation without having to end up in court. An approach that includes collaborative law and interest-based negotiation can help negotiations between the spouses in order to settle the disputes outside of court. However, that will require the spouses to collaborate with each other to resolve difficult issues.

If you wish to know more about divorce property division and how the entire process works, you may visit our law firm's webpage about division of assets and liabilities. The information you find on this page may help you make an informed decision.

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