Washington law provides for the division of debts in a divorce exactly as it provides for the division of property. In other words, debts are to be divided between the spouses in a fair and equitable manner. What “fair and equitable” mean for you depends on the circumstances of your case. Like property, debts are either…
We most often hear about prenuptial agreements in the context of highly publicized celebrity divorces. These cases cause the impression that prenuptial agreements are necessary only for the rich and famous. However, nothing could be farther from the truth. Prenuptial agreements are important for all couples, but even more so for older couples, who are…
In a Washington divorce, all debts are divided, even if they solely belong to one spouse or the other. While some spouses are able to agree to a division of debts, other spouses must turn to the court for the division of their debts. There are two major reasons why debt division is so important. First,…
Any couple who intends to or is currently going through a separation or divorce can execute a separation contract in order to settle any issues of dispute. These issues might include the division of property, the payment of debts, the custody and support of children, and the payment of spousal support. A separation contract sets…
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…
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…
For many people, the idea of filing for either divorce or bankruptcy is terrifying and doing both at the same time may seem like way too much for one couple to bear. However, for couples who incurred a lot of debt during their marriage, filing for bankruptcy before filing for divorce can help each partner…