Previous posts here have mentioned how the divorce process can be much easier for couples in Arizona when they are able to reach agreements about certain aspects of the legal process. For instance, some divorces are agreed to mutually - both partners realize that it is best for each of them to move on from the marriage. Couples like this who are going through a divorce in Arizona may be able to work out many different parts of the divorce process, such as one of the biggest issues: property division.
In a divorce, there are many different concerns for Arizona residents. The focus in divorces that involve children will rightfully be on child custody, support and visitation, while all divorces will include concerns about property division. But, one aspect of divorce that may be an afterthought is how the divorce will impact a person's tax situation.
Couples in Arizona who are going through the divorce process are likely to encounter certain terms that are unfamiliar to them. After all, for many people their interactions with divorce court are the first time that they have ever had contact with the judicial system. So-called "legalese" can seem pervasive. One important term that will come up in any divorce in Arizona is "community property."
When a couple in Arizona is going through a divorce, it can be very easy for either soon-to-be ex-spouse to focus on one particular issue, such as child custody or alimony. It is pretty much common knowledge that property will be divided between the couple in the divorce, so some people pay less attention to this topic. However, our readers would be doing so to their own detriment. Why? Well, it's because property division includes not only splitting up assets, but debt as well.
Most of our readers probably know the broad strokes involved in a divorce, but what they may not realize is that each state has their own specific state laws governing this type of legal scenario. Arizona, particularly, has a set of divorce laws that is somewhat different from the vast majority of other states in America. Arizona is what is known as a "community property" state, and that comes with some unique potential for complications.
If you are just beginning the divorce process in Tempe, you may have questions about how your property will be distributed. Arizona is a community property state, a fact that strongly impacts how the property division will be handled. If you or your spouse has a pension or retirement plan, the division of this asset could add a degree of complexity to the property division.
Arizona couples that have decided to end a marriage will have a multitude of concerns as the case moves forward. For couples who have retirement assets to worry about, it is important that the participants know everything they can about a Qualified Domestic Relations Order or QDRO. This is a tool in deciding how the couple will split the retirement assets.
For many people, the marital home is an important piece of property. Buying a home is a major investment. It also has sentimental value for some. It may be where you raised your kids, celebrated holidays with loved ones and made other fond memories.
It’s a misconception to think that divorce involves only legal strategy. Our Arizona law firm recommends viewing divorce as a transition requiring both short-term and long-term planning. Accordingly, after filing a petition for divorce, we advise our clients to assess their lifestyle requirements while the case is pending.
One psychologist has commented that, if later-in-life divorces were a disease, it would be declared a health crisis. While the divorce rate for the younger generations has declined in recent years, the rate for the so-called gray divorce has risen dramatically. For those who live in community property states, such as Arizona, there are some suggestions for how to survive such a divorce financially.