Recap, Arizona Debt Division In A Divorce.
So ending the week on divorce information. I am going to finish out informational divorce blogs with Arizona debt division. I hope it helps with a few divorce questions I have had lately in the Arizona area. I am happy I can find information to help people out in their divorce. It is just never an easy time.
So Arizona is referred to as a community property state, we have discussed that before in divorce, and the property division is handled by the divorce courts in most cases, unless the spouses can work together on who gets what in a divorce. If the spouses can not come to some sort of terms or conditions then the divorce courts will take over and split the property and debt up as equally as they can, but they do take a look at certain factors when deciding who gets what in the divorce. Things such as jobs, income, child custody, child support, who is paying what. So there are different factors that come in to play on who gets what in a divorce, unless the spouses can agree between each other. Misconduct, and things such as adultery are not factored in on who gets what in the divorce.
Now there are certain things in a divorce that can not or are not considered to be community property, and we have talked about this before in divorce blogs about keeping certain things and not to commingle them with marital property, if so they can be taken in the divorce and split right down the middle. Another important thing is to remember to keep all records and information of things that are separate that you have. But lets take an extra look at what can not be split in the divorce unless you have mixed it in with marital property.
1. Assets and things you had before the marriage are considered to be separate property and can not be taken in a divorce, but again remember not to commingle.
2. An income or any income produced by a separate property investment, but its important to also remember to keep a separate account for those, if its mixed in, it can be taken in the divorce, also another good reason to keep all documentation like I said before, at least you can have proof.
3. Property or inheritance, inherited by family can not be taken in a divorce, unless commingled.
Remember and again I will stress to keep certain things separate or at least have documentation of what it is and where its going.