Marital debts, just like marital assets, are fairly divided between spouses during a divorce. Because Washington is a community property state, all income, property, and debts that either spouse acquires during the marriage belongs to the marital estate and must be split relatively equally between the spouses. The responsibility for a marital debt can be…
During the beginning stages of a marriage, no one wants to think about divorce. However, the statistics are clear, and nearly half the couples who marry will eventually split up. With that in mind, couples are smart to plan for the financial consequences of a potential divorce, even if the marriage is currently healthy. Understanding…
Marriages may not always last for decades, but some debts do. When a married couple who owns a house divorce, the mortgage debt often exists for longer than the marriage. During a divorce, couples need to be aware of the long-term consequences of their mortgage before deciding on what should happen to the house. Mortgages…
Unfortunately, divorce can be an expensive experience for many couples. The cost of splitting up or selling property, maintaining two places to live, and paying child support or spousal maintenance can add up quickly. In addition to these expenses, both partners will have to pay legal fees to their respective attorneys. When contemplating a divorce,…