Joint or community property needs to be divided during divorce. Our attorneys at Lasiter & Jackson have more than 36 years of combined experience navigating property division issues in Arizona.
On the surface, determining what is community property vs. separate property appears to be straightforward. Essentially, any property acquired by either spouse over the course of a marriage is community property.
Any property brought into the marriage by either spouse is separate property. However, the characterization of property as community or separate can change and it is essential to make the right distinction between the two in order to ensure equitable property division upon divorce.
We can explain how your assets are likely to be classified and what impact this may have on your property settlement agreement.
There are any number of ways that property can change from being considered separate property to community property. For example, if each spouse had a separate bank account prior to the marriage and then decided to combine accounts after getting married, those accounts would likely be considered to have changed into community property. Couples can also agree to turn sole and separate property into community property and vice versa.
How property is characterized can impact a variety of issues in a divorce proceeding, including calculations regarding child support and spousal support payments. With this much at stake, it is important to seek guidance from a lawyer who understands how property is likely to be classified, and who can work hard to help ensure that your property is divided fairly and equitably.
We can help answer all of your questions concerning property division and what this may mean for your divorce case. Schedule a consultation with us by calling 602-234-5900 or contact us online.
