Options When You Are Facing 50/50 Property Division
When you work hard for your finances, benefits and assets, it can be difficult to see everything divided in half in the event of a divorce. Arizona residents are under the laws of a “community property” state, meaning anything they acquired during the marriage must be split evenly.
In my 12 years of experience, I have seen this method of property division frustrate even the most amicable couples during a divorce. Most individuals in a divorce just want what they have earned, or if they were unable to work, they want fair compensation for raising a family. At Petersen Law Firm, PLLC, I offer focused help for individuals and couples seeking to protect their financial interests.
What Will Be Divided?
The courts will look at anything you earned or bought during the span of your marriage. A skilled attorney can help define what these items are or work to prove something was obtained prior to the marriage.
These types of assets often include:
- Houses or other real estate
- Cars, boats or other large purchases
- Businesses, stocks or investments
- Work benefits such as pensions and 401(k) accounts
This also applies to things that are not an asset, such as debt. If one of the parties has significant debts by the end of their marriage, the courts can split it between the divorcing couple.
When Martial Assets Are Uneven
If you did not work while married or do not have assets to divide, the courts may depart from the 50/50 split. If one of the individuals earned much more or holds all the assets in their name, then the court may ask that person to pay more, in short, because they can. This can be in the form of alimony or a lump sum when assets are divided.
This risk of an uneven split means you need an attorney to look at your best interests and protect your assets.
Representing You Is My Job
Your case will never be handed off to a less senior attorney. I am founding attorney Riisa Petersen Mandel, and I will handle your case from start to finish.