Scottsdale Divorce Lawyer | Dividing Property after Divorce
A big part of the divorce process is figuring out how to divide up the property you and your spouse have acquired over the course of the marriage. As a Scottsdale divorce lawyer, I can tell you that many clients come to me concerned and confused about how property will be divided after their divorce in Scottsdale – and with good reason.
In Arizona, the law attempts to create a nearly equal division of property between the spouses going through divorce proceedings, but this is not always as simple as it sounds. The term “property” covers all kinds of items, including:
- Financial accounts, such as shared bank or investment accounts
- Cars, trucks, and other vehicles, which are generally divided based on who most frequently drove each vehicle
- Personal property, such as furniture, televisions, computers, etc.
- Retirement accounts and pensions, which may come into play if the spouses do not have nearly equal accounts
- “Real” property, which includes your house or other real estate
- Community businesses, which may be divided in a number of ways depending on what you and your spouse agree upon
Generally, you will be given the chance to decide with your spouse exactly how the property is divided. However, if you are unable to come to an agreement, the Court will decide for you, and your assets will be divided as equitably as possible under Arizona law.