The end of a marriage requires individuals to reorganize their lives and in some cases prioritize their wants and needs. This is because for some, going from two incomes to one or losing the income of their ex greatly impacts how much money they can count on to...
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Property Division
How marital property is divided in Arizona
If an Arizona resident wants to understand the classification of property pursuant to a divorce, they must first be familiar with the legal concept of "community property." Community property is a theory of property ownership between marital partners that is...
What is an equalization payment?
As Arizona is a community property state, courts in the Phoenix area often split marital property evenly in a divorce or permanent separation. For a variety of reasons, however, it may not be feasible to divide property literally in half between the two spouses. For...
Helping those trying to help themselves
For a variety of reasons, many Phoenix, Arizona, residents decide to handle a divorce, paternity case or other family law matter without the help of a lawyer. Particularly during the Great Recession, but even now, sometimes the reason for doing so is financial.In...
How will stock options be handled in a divorce?
Many people in Phoenix, Arizona, who have full-time positions get to take advantage of several benefits that their employers offer to them. Particularly in executive and other white-collar positions, for instance, an employee may be allowed to acquire stock options....
Alimony change could affect more than one’s taxes
Since about the early part of 2018, it's been in the news that the federal government has changed the way alimony, also referred to as spousal support, gets treated for federal income tax purposes.For the last 75 years up until now, a person ordered to pay alimony...
Why is a QDRO so important?
Some might think that family law attorneys in Phoenix, Arizona, who are handling a divorce or separation primarily work to make sure that their clients' interests in property are protected vis a vi the other party in the divorce.Some people may also see their...
What is considered non-marital property?
As this blog has mentioned before, Arizona is a community property state. In the context of a divorce, this means that, generally speaking, marital property is split 50-50 between the spouses. Incidentally, even couples with no intention of splitting need to be aware...
Thinking clearly about the family residence
When a couple is divorcing and going through a legal separation, they may find that they have a lot of emotions attached to the home they shared while happily married. But, like the couple's other property, the home will be subject to property division.In the vast...
What is so special about an offshore account?
Many of our readers know that offshore accounts are investment tools, a lot like stocks, bonds, insurance policies and retirement plans. The distinctive feature of an offshore account is, as the name implies, the bank holding the account is in another country and...