Asset Division in Arizona
There truly is nothing easy about a divorce. After all, you pledged your love to someone and now that love (or at least part of it) is dying. If you have children, divorce is especially hard, even more so if they are young and don’t understand adult relationships yet.
Dorris Law Group is a Tucson divorce law firm that is there to help you through this trying time. We understand that you are probably broken and that you just want to get through the divorce. Our mission is to help you with the legalities of the divorce so you can care for your family and yourself during this trying time. With over 20 years of experience, our team can help you obtain the most favorable outcome. Below, we’ll explain a bit more about the asset division process and how we can help. Contact us for a free consultation today!
COMMUNITY PROPERTY VERSUS INDIVIDUAL PROPERTY
Individual property, or separate property, is considered to be everything you owned prior to the divorce, any inheritance you received (either before or during the divorce), and any gift received (such as a family heirloom). Separate property can also be any settlement you receive from a personal injury claim (such as if you were injured in a car accident).
However, let’s say you refinance a piece of property that was yours before the marriage, but you put your spouse’s name on it during the marriage, odds are, this property is now considered joint property.
Community property is all property and assets that are acquired during a marriage regardless of whose name is on it. Thus, if your spouse buys a car in their name only, it’s still yours under the law. Sometimes if your previous property increased in value during the time of the marriage, this could be considered marital property instead. If this applies to you, be sure to mention this to Dorris Law Group during your divorce consultation.
WHAT DOES THE ASSET DIVISION PROCESS LOOK LIKE IN ARIZONA?
For the most part, divorces are usually settled peacefully out of court. This is because when you take your divorce case to a judge, you lose all say over what the outcome of the case, instead opting to put the power of your life in a judge’s hand. As thus, your Tucson divorce lawyers always recommend mitigation over litigation if possible. Thus, when it comes to the nitty-gritty details of asset division, it’s usually a give and take process. As a Community Property State, all assets are considered equal and should be split 50/50. However, splitting the family dog is not exactly possible.
Our divorce lawyers in Tucson usually start by having you write out your most treasured assets that you want to keep. Then we’ll get together with your spouse’s lawyer to iron out the difference and the wants. This process can take a while, especially if you both want the same item and a compromise is hard to find, such as with the family pet. However, eventually an asset division agreement is reached.
CHOOSE DORRIS LAW GROUP IN TUCSON TODAY
When it comes to Tucson divorce attorneys, you want one you can trust to represent your needs and wants. You want someone who will fight for you and get you the most favorable outcome. While we try to avoid litigation if possible, we are experienced trial attorneys, and if your divorce case ends up in court, we intend to ensure your wants and desires are met. We highly recommend you meet with our divorce attorney team to determine a fit. It’s free, and your future depends on it. Call our Tucson family law firm today!