How is property divided in Arizona divorce?
The process of divorce can be complicated and messy, and couples often struggle to put their emotions aside in order to make rational and necessary decisions. One of the most complex areas of divorce proceedings is the division of property, as it requires careful evaluation of all property, assets, investments, and debts in order to determine their value and how they will be split between the spouses.
Arizona is a community property state, which means that all property and debts jointly held by the spouses is divided equitably as part of their marital settlement agreement. Equitable, in this sense, does not necessarily mean assets will be divided exactly equally, but rather in a way that is fair according to the needs and resources of each spouse. The way in which a couple’s specific assets will be divided depends upon whether property is considered to be separate or community.
At Skupin Law Group, PLLC, we have the meticulous proficiency and compassionate professionalism to help guide you to an agreeable resolution for property division as smoothly and quickly as possible. Our Phoenix family law lawyer, Michael Skupin, has been passionately representing clients in divorce cases for more than 16 years and is dedicated to protecting the interests of his clients.
Separate Property vs. Community Property
The first step in determining a fair partition of assets is establishing what belongs to whom, as only community property needs to be divided. Separate property will generally always be awarded to the spouse to whom it belongs.
Separate and community property are defined below:
- Separate property belongs solely to one spouse. Separate property typically includes all property obtained before the marriage, property acquired as part of an inheritance, and property received as a gift from someone other than a spouse.
- Community property was acquired during the course of the marriage as the result of the spouses’ incomes and efforts. Community property can include homes, cars, furniture, land, companies, investments, and financial accounts.
Methods of Division
There are multiple ways in which a divorcing couple can decide to divide property. Once all property and assets are accounted for and assigned monetary value, they can take certain approaches to the division process depending on their interests.
Methods of dividing property include:
- Assigning specific items to each spouse
- Selling property or valuables and splitting the money earned
- Buying each other’s shares of assets
- Agreeing to hold property together
When it comes to dividing responsibility for debts, couples must consider all loans, credit cards, and mortgages accrued and assign it to one spouse. However, creditors can still attempt to collect from both spouses even after a divorce is finalized, so couples may need to be capable of amicable communication and cooperation in the future, or they might consider paying off all debts beforehand.
Hire a Compassionate Divorce Attorney in Phoenix, Arizona
If you are ending your marriage, a competent divorce attorney at the Skupin Law Group, PLLC can help you determine how your property may be divided by the courts and can advocate on your behalf. Our firm is dedicated to providing clients with personalized representation for their unique family law cases, and we are available to assist you during property division proceedings.
A divorce is life-altering, especially when it comes to the partition of assets and property. The final agreement can affect your life and finances in many ways, which is why we want to ensure that your interests are protected. We are experienced in the courtroom and can help you fight for a favorable resolution to your case.
Your answer to smooth property division proceedings
Skupin Law Group’s Phoenix property division lawyer Michael Skupin specializes in legal property division cases. With a Superb Avvo Rating of 10.0, Attorney Skupin provides high quality legal service with flexible payment plans to ensure smooth and swift property division proceedings.