Little Known Pitfalls of Co-owning Property
People often set up bank accounts or real estate so that they own it jointly with a spouse or other family member. The appeal of joint tenancy is that when one owner dies, the other will automatically inherit the property without it having to go through probate. This may sound like a good idea because […]
What’s Considered Separate Property in a Washington Divorce?
In Washington State (and not all states are the same), separate property is recognized and taken into account in divorce proceedings. Separate property is exactly what it sounds like: the separate assets owned by each spouse before marriage. Separate property also includes gifts and inheritances even if they are received during the marriage. Here’s an […]
Domestic Partnership Agreements
How unmarried couples can strengthen their relationships by privately defining their relationship under the law. A Property Status Agreement or Domestic Partnership Agreement (“the Agreement”) is an enforceable contract created between two people that allows them to legally define the boundaries of their relationship. The Agreement sets forth the couple’s intentions and clarifies each person’s […]
Divorces and Community Property
Separate and Community Property There are two systems by which married people own property. In almost all states, married people own property under a system called separate property. A minority of states subscribe to the community property system. Washington State is one of those states. In separate property states, each spouse owns, in his or […]