Arizona Divorce & Finances
The division of joint property and finances can be one of the most unpleasant and confusing aspects of a divorce. How is property divided? What are the tax consequences? Are there estate planning issues that need to be settled? Will there be spousal support payments, and if so, what will the parameters of those be? The following topics summarize Arizona laws specific to divorce and finances.
Arizona Property Division/Community Property/Debts:
Arizona is a “community property” state, meaning that all property that was acquired during the time of the marriage is considered community property and is divided equally 50-50 unless the parties are able to come to their own agreement separately. When the court must decide, it considers the nature of the community property, separate property, length of the marriage, and economic circumstances of the spouses, among other factors.
Arizona Spousal Support:
There is no automatic obligation for either spouse to support the other in the event of a divorce. Where the court does grant spousal support (also called maintenance), it is done on a case-by-case basis and in consideration of many factors, including:
- The financial resources of the party seeking maintenance;
- The time and input of resources necessary for the party seeking maintenance to find appropriate employment and sufficient education/training for that employment;
- The established subjective standard of living during the marriage;
- Marriage duration;
- Physical and emotional condition of the party seeking maintenance; and
- The ability of the prospective supporting spouse to meet his/her own needs while meeting those of the other spouse.
Arizona Divorce/Child Support/Child Custody Lawyers:
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