Clement Law Center - Federal Way Family Law Attorney
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Our office is open. At Clement Law Center, the safety and wellbeing of our clients and employees come first. In response to COVID-19, court hearings and all conferences with client and prospective clients will be by phone. We are not conducting in-person court hearings or meetings. Our staff will often be working remotely during this time. Our office will be checking voicemail and will return client calls as soon as possible. We continue to offer free phone consultations.
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Financial questions can accompany divorce

When people in Washington decide to end their marriage, the financial effects of divorce can be far more significant and long-lasting than the practical or emotional changes. This is one reason why divorce can often be a stressful time for people concerned about their finances. Many people may be unsure about how to handle issues with money moving forward into the future; by developing a plan, a divorcing spouse may feel more confident about their post-divorce financial outlook.

Understanding the assets and liabilities at stake is vital to this planning process. One of the most critical elements of achieving a property division settlement is establishing a correct valuation of the marital estate. Financial assets held by a couple include savings and investment accounts, stocks, cash, mutual funds, bonds and similar items. Retirement accounts are often the largest single asset held by a married couple. However, when dividing these assets, it is important to remember that they are not all equally valuable or equally liquid. Tax consequences can also play a major role; for example, $100,000 in an IRA is not equivalent to $100,000 in cash because the funds in the IRA will be taxed upon their distribution.

In addition, pension plans must be dealt with during the divorce. These may require a court order to divide them properly, and the order or divorce decree should spell out clearly the division of the plan. Questions about survivor’s benefits should be handled as part of the divorce negotiations as well as beneficiary status on retirement accounts, insurance plans and other funds.

Divorce can be a difficult time emotionally and financially. By working with a family law attorney, a divorcing spouse may work to protect major assets and achieve a just settlement that deals equitably with property division, spousal support and other issues.

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Our Office Locations

Federal Way Office
31919 1st Avenue South, Suite 103
Federal Way, WA 98003

Toll Free:888-351-6779
Phone: 253-336-3607
Fax: 253-815-8458
Federal Way Office Location

Seattle Office
3418 NE 65th St., Suite A
Seattle, WA 98115

Toll Free: 888-351-6779
Phone: 253-336-3607
Fax: 253-815-8458
Seattle Office Location

Bellevue Office
14777 NE 40th Street, Suite 206
Bellevue, WA 98007

Toll Free: 888-351-6779
Phone: 253-336-3607
Fax: 253-815-8458
Bellevue Office Location
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