How Does the Seattle Court Ensure Financial Needs are Met After Divorce?

Ending a marriage or long-term partnership is an inherently complicated process. The emotional impact of breaking up with your spouse or partner can be heavy, and it’s natural to experience a range of emotions as you process this significant life event. Even if you and your spouse have agreed to end your marriage on amicable terms, you may find yourself mourning the loss of this partnership or even experiencing some anxiety about what comes next. In addition to wading through the emotional toll of your divorce, you must also make critical decisions about the division of your marital assets, negotiate the terms of a parenting plan, and set yourself up for a strong financial future once the divorce has been finalized. 

As overwhelmed as you may feel at various points during the divorce process, you do not have to make these monumental decisions on your own. Many people find it helpful to enlist the guidance of a knowledgeable and caring Seattle divorce attorney who can help them understand what to expect at every stage of the divorce process and empower them to advocate for their best interests at every opportunity. Divorce can have a substantial impact on your financial situation, which is why working with a highly qualified King County divorce lawyer is highly recommended to ensure that you walk away from your marriage with the financial support you need to enjoy your life’s next chapter. This post will explore some of the ways in which divorce can affect your finances and how courts in Washington state can address financial considerations for both parties as they end their marriages. 

How Divorce Impacts Your Finances

It’s no surprise that divorce will affect your financial situation in many ways. As you end your marriage, you will move from a dual-income household into supporting just yourself. Or, if your spouse was the primary earner while you focused on raising children, maintaining your home, or performing volunteer work, the transition to single life can be all the more intimidating, as you will need to find a new source of financial stability. Although divorce impacts all parties in some way, studies have shown that women over the age of 50 experienced a 45 percent decline in their standard of living. In contrast, men over the age of 50 experienced only a 21 percent decline in their standard of living after the divorce was finalized. Spouses who divorced at younger ages (i.e., between 20 and 50) still experienced some decline in their standard of living, with women being more likely to experience a steeper decline than men. However, women who later remarried often found themselves enjoying a financial boost. Divorces that involve children can make the financial considerations more complex, as the court must ensure that the children will have a strong and stable home environment with sufficient financial resources to support their well-being.

How Washington Courts Approach the Financial Aspects of Divorce

When a court reviews a divorce case, the judge will consider several factors to ensure that any division of assets between the parties is “just and equitable.” In other words, the court aims to divide the couple’s property, assets, and debts in such a way that allows both parties to move forward on relatively equal footing. However, it’s essential to recognize that the term “just and equitable” does not automatically mean that the court will seek an even fifty-fifty split. In fact, a perfect fifty-fifty split is rare; instead, the court will adopt a nuanced approach to ensure that the financial needs of both parties are met once they go their separate ways. As a community property state, Washington generally views any property acquired by either spouse during the course of the marriage to be shared property, regardless of which spouse actually acquired it. In contrast, separate property refers to any property an individual spouse possessed before the marriage, such as real estate properties you bought on your own before you married your spouse. As the court approaches the division of property for your divorce, the judge will examine all aspects of your finances and property to ensure that the financial settlement after divorce is fair for both parties. Below are just a few of the factors that the court may use to guide decisions about property division during the divorce process.

The Duration of the Marriage

Spouses who have been married for a long time usually have accumulated more assets than those whose marriage has only lasted a few years. The court will look at how long the couple has been married to identify the community property that belongs to both spouses, regardless of which spouse actually acquired the asset during the marriage. In general, you can expect longer marriages to involve a more substantial and varied array of community property assets, while marriages that lasted fewer than a year or two will likely involve fewer community property assets. 

Amount and Value of the Community Property and Separate Property

Just as every marriage is unique, so is every divorce. Washington courts recognize that every divorcing couple comes from a slightly different financial position. One significant aspect of the divorce process is determining the amount and value of the community property acquired during the course of the marriage, as well as assessing the value of any separate property belonging to each party. This can be a time-consuming process, as you may need to involve outside professionals to help you with the valuation of your property. For instance, a realtor can assess your home to determine its market value, while a jewelry appraiser can examine your heirlooms to approximate the value of each jewelry item. Once this exhaustive analysis has been documented, the court can begin allocating assets to each party in a “just and equitable” manner.

Income and Earning Capacity of Each Spouse

As the court approaches your divorce case, it will look at you and your spouse’s individual incomes and your earning capacities. Rarely do both spouses earn the same amount of monthly income; in most cases, there is a higher-earning spouse and a lower-earning spouse, even if the difference did not seem relevant during the marriage. However, if you and your spouse were to separate, the lower-earning spouse would likely need additional financial assistance to ensure that they could continue to enjoy a similar standard of living that they had during the marriage. In instances where there is a glaring disparity between the incomes of the spouses, the court will likely compel the higher-earning spouse to pay spousal maintenance (also known as alimony) to the lower-earning spouse to ease the financial transition from marriage to post-divorce life. 

Determining Spousal Maintenance in Washington State

Washington recognizes that many spouses need financial assistance after the marriage ends. Implementing strategies to provide financial support after divorce is a primary goal for Washington courts and judges, as they see the need for economic stability once the divorce is finalized. Under RCW 26.9.090, the court may “grant a maintenance order for either spouse or either domestic partner. The maintenance order shall be in such amounts and for such periods of time as the court deems just.” In other words, the court may issue a maintenance order that requires one party to make payments to the other party to ensure that both parties can move forward with the financial resources they need to forge their newly independent lives. The judge may use their discretion to determine the amount of spousal maintenance that seems appropriate and the duration of the maintenance order. Spousal maintenance can be a critical factor in your post-divorce financial planning, so enlisting the guidance of a trusted and empathetic Seattle divorce attorney is the best way to ensure that you obtain a fair and favorable outcome. 

Child Support Determinations in King County

If you are going through a divorce and you have children, the court will consider and evaluate several factors to determine the terms of the child support order. Child support allows the child’s primary custodial parent (i.e., the parent with whom the child resides most of the time) to receive financial support from the other parent to assist with the costs of raising the child. The court’s main concern is ensuring that your child has enough financial resources and support to meet their needs. Most child support orders require one parent to make monthly payments to the other parent to assist with everyday costs, such as clothing, food, mortgages, utilities, and schooling. Although there is not a one-size-fits-all method calculation for determining the amount of child support you will be required to pay (or receive, if you’re the child’s primary custodial parent), the court will consider several factors to arrive at a child support order that supports the child’s best interests as much as possible. Settling finances after divorce can be a daunting task, and your Seattle divorce lawyer will work with you to advocate for you and your child’s best interests at every turn. 

If you are ready to explore your options for obtaining a divorce in King County or Pierce County, reach out to the dedicated and caring legal team at the Hemmat Law Group to discuss your goals. Call our Seattle office today at (206) 682-5200 to get started with an experienced divorce and family law attorney.