When it comes time to address property issues in your divorce, remember that Arizona is a community property state. What this means is that generally, both parties are equally entitled to property and debt accumulated during the course of the marriage. There are exceptions to the general rule; inheritances and gifts are considered the sole and separate property to whom the devise or gift was given. Furthermore, despite the fact that both parties might be entitled to or equally responsible for property and debt accumulated during marriage, upon divorce, the court will seek to divide these things equitably, not necessarily equally. In other words, it is possible that as part of a divorce order, you and your ex-spouse may not actually be awarded exactly equal amounts of money, property and/or debt.
What you can expect to receive is an award that is fair (or equitable). We can assist you in unraveling the property issues in your case.
- Property Division – If you are in the midst of divorcing, one of the property issues that must be resolved is how property will be divided. The term “property” encompasses everything of value accumulated during marriage from Tupperware, to a home, to a car, to a retirement account, to jewelry, and so on. While you want to ensure you are receiving your fair share of the property, you should give special consideration to participating in a prolonged battle over the blue towels. Is it worth it? We can help you figure it out.
- High Net Worth Divorce – Do you have a retirement, a 401K, investment accounts, real estate, stock options, or a business? If you do, you probably recognize that your divorce and the ultimate distribution of assets could have consequences beyond the family law courtroom. If you retain complex assets, the potential for conflict over property issues increases. We recommend you consult with an attorney to help you achieve a result that is fair and is financially sound.
- Hidden Assets – If you suspect or have learned that your spouse has been hiding property and money to avoid sharing it with you post-divorce, we can help you address these types of property issues. We are armed with an arsenal of strategies to discover and uncover where and when a spouse may have secreted property and funds. The process could be complicated and costly, so before you embark on a quest, consult with one our attorneys to determine whether you are likely to realize a positive return on the investment of investigating hidden assets.
Community Waste – Has there been an abnormal, unusual or unjustified expenditure of community money during the course of your marriage? If so, you could find yourself involved in prosecuting or defending against a community waste claim. If a judge finds community waste has occurred, he or she could impose different sanctions against the offending party, some of which are fines, fees and a distribution of community assets that would make the victim spouse “whole” again.