Figuring out the division of assets when going through mediation

| Jan 24, 2020 | Mediation

When getting a divorce, figuring out how to divide certain assets can be difficult. Those wishing to avoid going to court over this may be able to reach property division terms in mediation. Such terms do still need to abide by the laws put forth by the state of Washington, however.

Recently, a woman in another state asked about dividing pensions and if that is something that could be done when going through mediation. Yes, pension issues can be negotiated in mediation. At the end of the day, it does not matter what assets are on the table. If a couple is willing to talk things through, mediation can work, and an agreeable property division settlement can be reached.

When it comes to dividing assets in Washington, couples need to remember that this is a community property state. This means that marital assets are to be divided in a 50/50 manner. When it comes to pension plans in particular, both parties may be able to keep their own accounts if it is something to which they both agree. When the court reviews the agreed-upon terms before signing off on them, it will just be looking to see if each party is walking away with a fair share of marital assets.

Getting a property division settlement that fits one’s wants and needs is more likely to occur if one is willing to go through the mediation process. It is worthwhile to pursue this route to divorce if a couple wants to keep the courts out of it. Mediation is not the perfect fit for all couples in Washington looking to end their marriages, but it’s not something one should write off without giving some serious thought. If utilizing the mediation process is desired, legal counsel can help one through it.