Arizona is one of only nine community property states. In a community property jurisdiction, most property acquired during the marriage, excluding separate property, is owned jointly by both parties in the marriage and divided evenly upon divorce, annulment, or death. Under community property laws, all property is automatically presumed to be joint community property absent specific evidence proving otherwise. If property is deemed separate property, then the owner of said property will retain sole possession over it. However, if the property is categorized as community property, then it is divided among both parties equally. Some common examples of separate and community property are as follows:
The construction of the "typical" American family is changing. Fewer young couples in particular are opting to marry each other. Rather, these cohabitating couples live lives together that are often as financially and socially intertwined as that of married couples while foregoing the legal formality of marriage. These cohabitating couples often face unique challenges when they decide to split.
One of the major questions in a divorce is: Who will keep the marital homestead and how will the other spouse be compensated? Due to the housing market crash and the recession, answering this question has become increasingly difficult.
Is your spouse hiding assets in your divorce case? In many divorces, it can be difficult to trust any statements or guarantees of the other spouse at face value. This is especially true when dealing with the financial implications and division of assets. Without seeing the proof, there is no way to know if your spouse is giving you the complete picture of your marital assets.