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“Get those money issues settled before the marriage” -CNBC
Below is a great article from CNBC about your finances and getting married. The full article is below or you can read it here. When life changes, so do your finances. Any new relationship, or new stage in one, means you’ll need to tweak the way you pay expenses and plan for the future. It…
Community Property
Once property is considered community property, it must be divided equitably between the spouses. That is why it is important to determine the characterization of the property at the beginning of the divorce. There may be arguments about whether property is community or not, but most property is fairly easy to characterize. Property includes…
What Happens to Community Property
Once property is considered community property, it must be divided equitably between the spouses. That is why it is important to determine the characterization of the property at the beginning of the divorce. There may be arguments about whether property is community or not, but most property is fairly easy to characterize. Property includes…
Property Settlement Agreement
When and How to Get Your Marital Settlement Agreement At this point, you are probably wondering what to do with all of this information and how is it used in the divorce process. As previously discussed, it is important to know what assets you and your spouse either own together or separately and their…
How Arizona Law Sees Division of Property
You and your spouse may decide this for yourselves, but it is important to note that Arizona is a community property state. In accordance with Arizona Revised Statute ?25-211, community property is all property acquired during the marriage by the efforts of either party through the date of service of the Petition for Dissolution. The…
What happens when spouses in Arizona own a business together?
During the divorce process here in Arizona, the court will usually attempt to keep the things the way they presently are when it comes to the day-to-day operations of a family business. A business valuation expert can assess the value of the business during the divorce matter. Arizona courts, with the input from the business…
What if my spouse does not pay the community debts as ordered in the final decree? Can our creditors force me to pay?
Yes, Arizona Revised Statute 25-318 states that a creditor can collect a marital debt from either spouse, regardless of which spouse is ordered to pay the debt by the court. The innocent spouse then has the right to recover from the obligated spouse. If a party fails to comply with an order to pay debts,…
What does a property settlement agreement do?
A Property Settlement Agreement lays out and explains how your property will be divided. If the court ultimately decides how your property will be divided, the property division will be explained in your decree, which is public record and can be read by anyone. If, however, you negotiate and draft a Property Settlement Agreement, you…
How do the vehicles get divided during my divorce?
Usually spouses have driven one vehicle and that is the one they want to keep. There may be an adjustment if one vehicle has a greater value than the other. For instance, if the truck has equity of $10,000 and the SUV has equity of $20,000, one person has $10,000 more value than the other….
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