Call Us Anytime: Phones Answered 24/7

Experienced. Innovative. Trusted.

Group photo of the attorneys and staff members at Clement Law Center

Divorce definitely has financial implications. Keep this in mind

On Behalf of | Dec 27, 2019 | Divorce |

Before 2019 ends and into the first weeks of the new year, many Washington spouses will file petitions in a family court to dissolve their marriages. Why each spouse has decided to divorce is likely to vary. However, many spouse can relate to others’ experiences. In fact, they often share similar concerns as well, such as what their financial situation will be when they re-enter a single lifestyle.

There are several ways to finalize a divorce, some more expensive than others. It pays to research options ahead of time in order to choose a path that is most economically feasible given one’s set of circumstances. While hiring an attorney incurs fees, doing so can also help a concerned spouse protect his or her financial interests in divorce.

For spouses who are parents, providing for children’s financial needs is a high priority. The court will determine if either parent should pay child support. Being on either side of the issue can greatly affect one’s economic status after divorce. It is critical to learn as much as possible ahead of time about alimony, state child support guidelines and other financial issues because there is a fine line between balancing financial obligations and protecting one’s rights and interests.

Divorce is no doubt one of the most change-prompting experiences of a person’s lifetime. However, it does not have to mean financial ruin. Washington operates under community property guidelines, which means marital assets and liabilities are typically split 50/50 between spouses, another issue to consider regarding one’s potential post-divorce financial status. An experienced family law attorney can clarify state laws and provide guidance and support throughout proceedings.