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Property & Debt Division
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Property Division in an Arizona Divorce
Phoenix Divorce Attorneys Serving Scottsdale & Beyond
Rader Law Firm has 19 years of experience in family law. Our Phoenix family law attorneys have in-depth knowledge of state and federal requirements for the division of assets, retirement, and debt. Let us guide you through the process.
We assist with all types of division, including the division of:
- Business interests, including closely held businesses and professional practices
- Retirement savings, pensions and 401(k)s
- Unique collections and antiques
- Intellectual property
- Vacation properties or timeshares
- Trust funds
These matters can be delicate and complicated, especially when involving retirement that hasn’t been cashed out yet. Trust our skilled legal firm to help you navigate the laws and look out for your best interests.
Community Property vs. Sole & Separate Property
Asset division can become especially complex if you own multiple real estate holdings, investments or businesses. Like other assets, these are considered to be either community property or sole and separate property for the purpose of asset division. Broadly speaking, community property is property acquired during the marriage, while sole and separate property was owned prior to the marriage or was acquired by inheritance or gift. It is possible for a property to be both community as well sole and separate. Homes are often classified this way if one spouse purchased it before marriage, but the property increased in value during the marriage while both spouses contributed to mortgage payments.
Hidden assets can be difficult to spot if you do not know what to look for. We work closely with an experienced and knowledgeable forensic accountant. This skilled professional traces and locates assets that were transferred from different accounts or real property that was transferred from one name to another, among other situations. We also work closely with a professional certified public accountant (CPA) who understands Arizona community property law.
Divorce & Foreclosure
In today’s economy, many divorcing couples may also be in the process of losing their homes. Conflict often arises when one spouse wishes to stay in a family home that is no longer affordable, or when couples discover that they are upside down on their mortgages. Our experienced attorneys can advise you on dividing debt in a way that is fair under Arizona community property law. We can also assist you with possible solutions, including buyout by one of the spouses or agreements for a delayed sale of a jointly owned property, and help you determine the pros and cons of these decisions.