Arizona is a community property state, which means that any assets or property that are deemed to be “shared” or “marital” assets are subject to community property laws. Each spouse is then given a 50 percent stake in each asset that is deemed to be subject to community property laws, and arrangements need to be made from there to ensure that the asset is handled properly.
Many couples may not be familiar with community property laws and the complications they can cause. There are intricate situations that can arise when community property gets involved. For example, certain assets or pieces of property may be exempt from the process. If the asset was with one of the spouses before marriage, or if an asset was a gift, they can be exempt from the community property process.
There are other complications that can arise during the divorce process — not just in property division — that could make community property an issue as well. So it always behooves splitting spouses to have an experienced attorney by their side to help them with this division of property.
At Trullinger & Wenk, we are committed to helping our clients get the divorce settlement or divorce agreement that they deserve. We are experienced and knowledgeable of community property law, and we can help you navigate the complications that this area of divorce can create. Don’t let the divorce, and the many issues involved in it, get you down. Consult with our firm and get yourself on track for a new chapter in your life.