Are you going through the divorce process? Are you concerned about the impact this will have on your finances?
Many couples in Washington who have ended marriages would probably agree that their decision was one of the toughest any person can make in life. Besides cutting the emotional ties associated with marriage, spouses must also deal with complicated issues related to divorce, such as child custody, child support, spousal support and the division of assets.
When a married couple divorces in Washington, they must divide their property according to Washington law. In theory, this shouldn't be so hard to do: Washington follows a system known as community property, which provides that almost everything acquired during the marriage counts as community property, and -- in theory -- should be split 50-50 upon divorce. In practice, division of assets is frequently more difficult than that, and can require a lot of negotiation, particularly for high-asset and high-profile couples.
There is a misconception among some people in Spokane, Washington, that there is no way a couple can survive a broken marriage and still maintain a healthy relationship with each other. It is true that a divorce can be a serious matter involving certain complexities such as division of assets, child support and spousal support. However, that does not necessarily imply that it is virtually impossible for two people to take care of all such complexities, perhaps with legal assistance, and part ways in a mutually amicable fashion.
Many couples try to work out their marriage and, at times, even live separately for a while. However, sometimes, the relationship just doesn't work and divorce may seem like a good choice. Indianapolis Colts owner, Jim Irsay, and his wife of 33 years will divorce after living apart for a decade, and the court will now handle the division of assets. If they had been living in Spokane, Washington, each spouse would automatically have been entitled to half of the marital estate under the state's community property laws.
Washington State residents must have heard the recent news of two high-profile celebrity divorces. Both divorces are slated to happen within the same family, the Kardashians. According to reports, Bruce and Kris Jenner have decided to get divorced after a year of living separately. Along with the parents, their daughter Khloe Kardashian may also file for divorce from husband Lamar Odom very soon.
Spokane residents know some divorces are full of fights, disagreements and endless points of contention. Whether the battle stems from child custody issues or, division of assets, divorces can get ugly quickly. The process is chalked full of emotion and it is understandable why so many divorcees feel the strain and stress of the process. The end of a marriage can be tumultuous and painful event, where emotions are heightened and the stakes are high.
It is often difficult to maintain personal relationships despite the positive things they bring to life. Different personalities, different goals, different reactions-all of these differences can make it difficult to navigate the sometimes murky waters of a friendship or romantic relationship. When a Washington couple gets married, these inherent challenges do not go away. For some people who blend well, it may not be that difficult to merge lives and sustain a strong relationship. Others may find daily challenges or extreme circumstances too much to bear, however, and seek to divorce.
Spokane residents who are going through a divorce understand that it can be an incredibly difficult time of your life. Not only do you have to adapt to a new way of life, but also many times you have to create a new lifestyle. Depending on the financial situation and asset division of a divorce, it may mean altering your lifestyle considerably. Divorce affects both men and women, and traditional notions of gender roles are going out the window.
In addition to facing an emotionally trying time, Washington residents going through a divorce are also prone to making serious financial mistakes during the proceeding. These financial mistakes can leave a person struggling to recover from divorce in a state of financial turmoil for a long time.