Yuma, AZ – A divorce can turn into both a large financial strain, and cause mental and emotional stress as well. Despite the potential for these problems, there are some steps that a person who is about to go through a divorce can take to minimize their losses and avoid the most serious potential problems associated with a legal separation. They can also review their property division status with a licensed lawyer in Arizona to see how the state’s community property doctrine will affect their personal situation. Engaging in these processes early can help avoid surprises and future legal issues.
Legal requirements for financial disclosures before a divorce
People going through a divorce should expect to make complete financial disclosures about their sources of income, investments, assets, property, and related matters. Failure to disclose all relevant financial information can cause appellate courts to get involved, and possibly reverse decisions stated in the initial divorce decree. An appeal at a later time can cause the initial property distribution to be changed, or even award or reverse an award for alimony payments depending on the specific facts related to the original divorce.
Anyone going through a divorce can have a confidential discussion about these matters with their family law attorney. The specific details of the conversation are privileged and do not need to be shared with anyone else. However, the attorney can advise the client based on this information, and inform them regarding which forms of property and money absolutely need to be disclosed during the divorce case.
Arizona’s community property laws
Arizona is one of only nine states in the U.S. that is considered a community property state. States in the Midwest and on the west coast make up most of the community property jurisdictions.
Community property essentially means that each spouse has an equal claim to control and ownership of the community property obtained during the course of the marriage by both spouses. The state’s laws further say that the courts must equitably divide this kind of property during the divorce proceedings. There is a legal presumption that all property acquired during the marriage is community property unless it was received through a few exceptions. These include movement of property through inheritance, or money obtained through a personal injury lawsuit involving only one spouse. Anyone who has a financial situation that is unique should talk to their lawyer about how the community property laws may affect them as a precaution.
Learning more about Arizona’s divorce laws
Anyone who lives in Arizona and thinks a divorce is coming should consider talking about their situation with a local family lawyer. Schneider and Onofry is a trusted firm that helps clients successfully navigate the state’s divorce laws and begin their new lives.
Firm contact info:
207 W. 2nd St., Yuma AZ 85364