Asset & Debt Division in Mesa, AZ
Why You Need a Skilled Mesa Asset Division Attorney
Bastian Law Offices, PLC is committed to delivering honest, focused, and results-driven representation to couples who are dealing with property and asset division issues. Our divorce lawyer in Mesa knows how stressful this period of time in your life can be and how high the stakes are.
This is why we do all that we can to minimize your concerns and make sure you are aware of all expectations and developments in your case. We at our family law firm value you as a client, and appreciate the high level of trust that you choose to place in us.
Learn more about what you can expect in your asset and property division! Call our Mesa asset division attorney at (480) 526-4614 for a case evaluation.
Arizona Operates as a "Community Property State"
As such, any time an Arizona marriage ends in divorce, all of the property or debt that was accumulated during the course of the marriage belongs equally to both spouses. Any property that was owned by either spouse prior to the marriage remains their own—as does anything that was individually inherited during the marriage.
Exceptions include when both spouses make payments on a mortgage that was individually purchased prior to the marriage or when individual property is legally changed to marital property.
Examples of community property include the following:
- Bank accounts
- Furniture and furnishings
- Businesses formed together during a marriage
- Retirement accounts
- Debts incurred during the marriage
Determining Division of Marital Property
Property division can take place outside a courtroom if the couple can mutually agree to the terms of distribution. If they are unable to reach a consensus, the court must intervene. The division of property does not have to be exactly equal, but it must be approximately equal.
Whether a settlement is reached inside the courtroom or not, the basic steps are:
- Determine which property is jointly held and which property is not.
- Calculate the total value of all marital property and debts.
- Settle on a means of dividing the property as fairly and equitably as possible.
Call us today at (480) 526-4614 for a case review!
For anyone looking to spare themselves the time, money, and uncertainty of submitting to a judicial decree, the ideal course of action is to avoid going to court. At Bastian Law Offices, PLC, we aim to help couples settle their property disputes as amicably as possible. But, we are not afraid to litigate on your behalf if necessary.
Trust the experienced counsel of our Mesa divorce lawyer. Call our seasoned firm for a consultation. With the team at our family law firm, you can expect cost-efficient solutions and honest expectations.