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Property Division Archives

Here are some things you can -- and can't -- include in a prenup

We have written about the prenuptial agreement before. This contract is an incredibly important part of both marriage and divorce. However, what are you allowed to include in your prenup, and what topics are barred from being included in the contract?

What community property is and how you can prepare for it

There are only a handful of states in the U.S. that abide by community property laws. This doesn't mean that community property laws are "bad," but it does mean that these laws are more uncommon -- and, thus, maybe not as recognizable or understandable -- as other property division laws. Arizona is one of the states that follows community property laws.

About that time when Beanie Babies were crucial assets

In our source article, the Huffington Post found an amazing picture of a couple that was dividing up their assets in a divorce courtroom. That may not sound out of the ordinary to you, but in this case, they were literally splitting up their assets between them in the courtroom. And those assets were Beanie Babies. The 1990s were some crazy time, weren't they?

The intricacies of community property and why they are important

When it comes to property division in a divorce, there are two ways that states deal with the thorny issue in a basic way. Most states go with "equitable distribution," which means that in a family court, a judge decides which assets should go to which spouse. The judge does this in such a way so that each spouse is roughly "equal" in that judge's mind. This can lead to "unbalanced" outcomes in terms of the amount of assets each spouse gets (i.e. one spouse could get three-quarters of the assets if a judge thinks that is what is "fair").

What is taboo and what's okay for a prenuptial agreement?

In our last post about divorce, we talked about prenuptial agreements and postnuptial agreements -- legal devices that allow spouses to protect themselves and the many assets and factors involved in their marriage. Whether you and your spouse bring an immense amount of assets to the alter, or a far more modest amount of assets, a prenuptial agreement or postnuptial agreement serves a very important purpose to the couple.

The divorce moving project: how to get out unscathed

There are few people out there that enjoy moving. It's a long and arduous process that requires a lot of heavy lifting and stressful decisions, and in the end all of your items -- the couch, the TV, the tables, etc. -- all end up in roughly the same spot that they were before, except it's in a different house. Moving is a tough job.

Be prepared for community property during divorce

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.

The conundrum of pet custody during divorce

Imagine for a moment that you and your spouse have been married for a few years. You decide not to have kids, but you both know there's something missing in your life. So you go get a pet -- and for years, your lives are great. But then one day you and your spouse come to the realization that it's time to divorce.

Why your home may not be worth fighting for in a divorce

It is easy to fall into the trap of thinking that every divorce has to be a contentious, bitter and drawn out disagreement between two people. At some level, any divorce could fit one or more of these descriptors -- though it could also fit none of them. Ultimately, the point we are trying to make is that every divorce is a little different. Divorce doesn't have to be the angry stereotype it is made out to be.

When you go through divorce, avoid these financial mistakes

No matter how amicable you think your divorce is, and no matter how often you tell yourself that the divorce isn't about money, a divorce will always be about money. That doesn't mean that's all you care about in life -- it just means that finances, property and other factors involving money are inherently part of divorce. Every couple has to deal with it when they decide to go their separate ways.

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