Our attorneys are experienced in representing clients in Arizona who need assistance with a property division proceeding. We can also help protect your rights and help you determine how your property may be divided by the courts. Because each case has its unique circumstances, we evaluate your situation and then fight for a favorable outcome for your needs and specific case.
Ending a marriage can affect every aspect of your life: financial, professional, family, and personal. When it comes to dividing assets and personal property, we want to make sure that your best interests are protected.
The Process of Property Division in Arizona
An attorney at our firm can help you with the legal process of property division in your divorce case. Sometimes emotions get in the way of a client’s ability to make proper decisions. Our team will not only help you to understand the process, but also give you options. Division of property means an evaluation of all assets, property, investments, and debts. Next, a value is determined, and a decision is made how how it may be divided. Contact our firm if you need a trusted and experienced attorney to help you attain an agreeable and fair resolution to your property division case.
Arizona is a community property state. All debts and property held jointly by spouses is divided equitably. Equitably does not necessarily mean equally. Instead, an equitable split will be a fair division according to the needs and resources of each party.
Community Property – Property Division in Arizona
Community property is divided in a divorce. A beginning step in making a determination of a fair partition, therefore, is to determine what belongs to whom. As a result of efforts and incomes of both spouses, community property is property acquired doing the marriage. This can include cars, furniture, homes, land, investments, companies, and financial accounts.
Separate Property – Property Division in Arizona
Typically, separate property is the kind that solely belongs to one spouse. Property obtained before the marriage, for example, may be separate property. Property obtained as an inheritance, or property gifted from someone may also be included as separate property.
An attorney experienced in Arizona Property Division and Divorce laws will help you understand the process, methods of division, and answer any questions you may have about splitting assets.
How is Property Split?
Different approaches can be taken once all assets and property are assigned and valued. Depending on your interests, an attorney can assist you in the best method for your situation. Also, if a couple has loans, credit card debt, or a mortgage, it is a good idea to consult with an attorney to assure that your best interests are protected. Several courses of action include:
- Specific items are assigned to each spouse
- Property or valuables are sold and the money for these are split
- Assets are bought by one spouse