Representing Your Best Interests In Division Of Property, Assets And Debt
Arizona is a community property state, which means that regardless of who has contributed what to the marriage or which spouse incurred a debt, each person is attributed a 50/50 percent share in the marital property and the community debt. While this doesn't necessarily mean that each person will get exactly one-half of the community property or ordered to pay one-half of the community debt, the overall value of what each person receives will be roughly one-half of the couple's total property, assets and debts.
Separate property is defined as property one person owned prior to the marriage or received as gifts or inherited during the marriage. If separate property is co-mingled, meaning used to finance or support the marriage, it may become community property, depending on the specific circumstances.
Dedicated Professional Representation
The law firm of Stolar & Pollins, PLLC, will examine your finances to determine what is considered community property and what may be considered separate property. If you or your spouse owns a business, we will have a business valuation conducted by an expert. We will also look at retirement accounts and other assets to ascertain what your fair share of the marital property is.
If required, we will file a Qualified Domestic Relations Order (QDRO) to establish your rights to a portion of your spouse's retirement or other deferred income or assets earned during the marriage.
Merle Stolar has a master's degree in tax law (L.L.M.) and has experience working with the Internal Revenue Service. Karen Pollins has a master's degree in business administration (M.B.A.) and worked in the business world before earning her law degree. Both attorneys bring a unique perspective to your case, helping you figure out what the tax implications will be as you divide your property and debts.
Pima County Debt Division Attorneys
Marital or community debt is any debt incurred or accrued during the marriage by either spouse. Marital debt is divided equally between the two individuals, just as property is, even if only one person incurred the debt during the marriage. There are exceptions to this rule, including debt incurred by one person before the marriage. The total value of the division of debts and property will be determined before the divorce is finalized.
Our mother-daughter team of lawyers will work with you to determine what your fair share of the marital debt is, as well as what your fair share of the marital property is. We will advocate for you, and if necessary, use experts to uncover hidden assets to make sure your property is divided equitably. Our hands-on approach helps you make the best decisions for yourself and your family for the future.
Contact Stolar & Pollins To Schedule A Consultation
Contact us to discuss your unique family law situation and discover how our breadth of services can help you achieve your goals. Our lawyers are accommodating to your needs. We can be reached by phone at 520-441-6846, and we return phone calls promptly.