Asset Division
Asset Division is a contentious part of divorce. Arizona courts assume that all the property and assets of the marriage are joint and community property. You need to make sure you retain independent legal representation to make sure you get your fair share of the assets.
Scottsdale Asset Division Attorney
The Daly Law Firm assists clients with all parts of the divorce process. It can be difficult to divide assets because couples don’t draw clear distinctions when it comes to marital property. All the property is shared and usually one party feels cheated. It is important to get a knowledgeable attorney to help you divide your marital estate. Contact Doug Daly at (480) 607-8308 for a free consultation regarding your particular marital property situation.
Important Asset Division Considerations
When you are dividing assets you need to take certain steps to make sure there is an equitable asset division in the final divorce decree.
- Identify all the marital assets owned by you and your spouse
- Categorize the assets into community and separate property
- Get an expert to assign a value to the assets
- Plan how to divide the assets with an Arizona family attorney
It is important to get legal assistance when dividing the marital estate. The identification and categorization of marital and non-marital property is crucial in order for the court to make a fair determination. Surprisingly documentation of assets is one of the biggest things that hold up marital asset division.
Transitioning into holding separate property
Normally married couples have joint bank accounts and joint titles to property. Now that you are getting divorced you need to set up individual bank accounts and get things titled in your own name. You can start doing these things before your divorce is finalized:
- Establish credit in the name of each spouse and close all joint credit card accounts
- Have a formal written agreement about the activity on any joint accounts until all accounts are separated. Your lawyer can help you greatly in this respect by filing motions to hold your spouse in contempt if he or she tries to misuse assets.
- Open separate bank accounts
- Freeze any investment assets so that neither spouse can use the funds until the final divorce decree makes an agreement on the investments.
Daly Law Firm, PLLC - Phoenix Asset Division Lawyer
If you are going through a divorce with a large amount of marital assets in dispute it is essential to get help from an experienced family law attorney in Scottsdale. You need to guarantee that someone advocates for your rights in the divorce and will make sure the marital property division is equal. If you are contemplating a divorce in the Phoenix, Scottsdale, or the Maricopa County area, don’t hesitate to call The Daly Firm at (480) 607-8308 for a free consultation to answer your questions and concerns about marital asset division.