John Bednarz, P.C. | Divorce & Family Law Attorney
View Practice Areas
Relax and meet John

Posts tagged "Property Division"

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. As the name implies, a stock option is the right of a person to buy company stock at some point in the future for a price already agreed upon.

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 of our community property laws.

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 therefore subject to the laws of that other country. This may create legal complications, but it also can give some important legal and financial advantages to a legitimate investor.

Consider taxes when valuing property

Thinking about taxes and how they will affect a divorce or separation is not just an exercise that the wealthiest residents of the Phoenix area should undertake. Indeed, as a previous post pointed out, any separated parents who have children, and, thus, the ability to take child-related tax benefits, need to think about this issue.

Sentimental value versus market value in property division

As this blog has discussed, part of the divorce or separation process in Arizona involves dividing up property. When doing so, one of the biggest if not the biggest issue involves asset valuation and division. It is an important issue because, without paying attention to it, a party to a divorce can end up getting an unfair deal that they may wind up just having to live with. Incidentally, understanding asset valuation is also important for happily married couples when they are selling something like a house, a car or even a piece of furniture.

How is the value of art determined?

In the event of a divorce or a legal separation, a Phoenix couple that happens to own a piece of unique artwork, as opposed to a commercially available reproduction, will face the difficult question of how much the art is actually worth. The answer to this question can affect property division and other court decisions. Incidentally, knowing how to value one's art can also be of benefit even to happily married couples who might need to know this information for business or tax reasons.