When doctors with substantial assets and reputations file for divorce, they can put their financial well-being at risk. Under Arizona divorce law, a practicing doctor’s medical practice can be seen as community property in a divorce. Any investments, earnings or property that was obtained with funds from one spouse’s medical practice will need to be assessed during the dissolution process. Furthermore, in order for a doctor to claim that their spouse played no role in the success of their medical practice and should not receive half of the practice’s value in the terms of their divorce, the doctor will need provide the court with substantial and compelling evidence.
Archive for the ‘Property Division’ Category
Doctors Facing Divorce in Arizona
29 March 2012 by admin | Divorce, Family Law, Property Division | No CommentsWhen Separate Property Becomes Commingled in AZ Divorce
28 March 2012 by admin | Divorce, Family Law, Property Division | No CommentsIf a spouse can track a separate asset back to its original source, they can increase their chances of keeping that asset as their sole property in the terms of their divorce. However, tracking an asset back to its initial state can be extremely difficult and this process is best facilitated with assistance from a Phoenix divorce attorney. To learn more about property division, community property law and Arizona divorce law, contact the Phoenix family law attorneys at JacksonWhite. Call us today at 480-464-1111.
Arizona Business Ownership and Buyouts for Divorcing Spouses
27 March 2012 by admin | Business Owners, Divorce, Family Law, Marital Debt Division, Property Division, Small Business Owners | No CommentsWhen divorcing spouses have equal ownership in a business, yet do not want to stay in business together once their dissolution is finalized, what happens to the business? In a state like Arizona that recognizes community property law, parties to a divorce have a couple different options if they own a business together.
Arizona Divorce Property Division
26 March 2012 by admin | Divorce, Family Law, Marital Debt Division, Property Division | No CommentsArizona divorce law was founded on the principal of “community property.” This means that anything and everything acquired during a marriage, including antiques, paintings and jewelry will be split right down the middle in a divorce. Family businesses, as well as stock options, retirement benefits and real estate, can also be subject to property division. People with significant assets need to make sure that they understand how a divorce might affect their future finances.
AZ Divorce Can Hurt Company Ownership
9 March 2012 by admin | Business Owners, Divorce, Family Law, Property Division | No CommentsThe average age of alter bound women in the U.S. is 30, and for men, it’s 31. Since many successful people in their 20s and 30s are staying single longer and marrying later in life, wealth and money management is critical. And while no one enters into a marriage with thoughts of divorce on their mind, the following statistic will still hold true – in a given year, about 40 to 50 percent of couples that get married will end up getting divorced.
The Many Relationship Levels Affected by Divorce and Separation in Phoenix, AZ
5 January 2012 by admin | Collaborative Divorce, Divorce, Property Division | No CommentsWhen two people decide to separate or divorce, they may not consider the levels of detachment that will be caused by their decision, because becoming independent is the most important thing on their mind. But once reality sets in, they will need to consider how their divorce or separation is going to affect the many aspects of their life.
How is martial property divided upon divorce in Arizona?
4 May 2011 by admin | Divorce, Property Division | No CommentsIn most cases, Arizona courts divide community property equally between parties to a divorce, regardless of who earned it. While community property division may seem like a straightforward concept, the application of this rule is not always simple. Certain property can be considered as separate property belonging to only one spouse. For example, even in a community property state, certain property acquired during the marriage, such as gifts or inheritances, is considered separate property, and thus belongs solely to one spouse. In addition, one spouse’s sole and separate property can become “comingled” with the community property, which transforms that property [...]
Marital Property Becomes Community Property
3 May 2011 by tdurkin | Divorce, Property Division | No CommentsArizona is a community property state, which means that spouses share joint ownership in most property acquired during the marriage, regardless of which spouse earned or acquired it. However, there are exceptions to this rule. Property acquired through gift or inheritance can be treated as separate property. The community property designation becomes highly important in a divorce, when it comes time to divide the marital property. The principle underlying community property is that regardless of whose name is on the title or who earns the majority of the income, both spouses contribute to the family unit. Upon property division in an [...]
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