Property & Debt Division in Divorce

Get a Maricopa County Attorney with Two Decades of Experience

Divorce is a serious legal process that involves a significant amount of work on the parts of several individuals. One of the many difficult elements to divorce is the division of marital property and debts incurred during the marriage. To ensure that you are not left with an undesirable portion of debt and property, it is imperative that you have an experienced attorney on your side.

At Steven N. Cole, LLC, we are aggressive Phoenix family law attorneys, and we know what it takes to provide our clients with the representation that they need. Since 1993, Attorney Steven Cole has been representing local Phoenix residents in various family law matters. When you are seeking a divorce, there is no substitute for personal representation and experience and you will receive both when you choose us to represent your case.

Who gets what in divorce?

Property and debt division can be one of the more difficult (and sometimes) contentious parts of the divorce process. You may need to protect your standard of living for yourself or your children by making sure that your assets are divided fairly under Arizona law. Property and asset division could also affect rulings on child support or alimony and spousal support, just like a bi-weekly paycheck can. While we encourage couples to separate on friendly terms, we know that some spouses are out for blood.

Arizona holds to community property laws in the case of divorce. Any property that is acquired during the marriage is considered "community property" and is to be divided fairly between the parties, in as equal of an amount as possible. One of the more crucial elements to the division process is to have the value of the property properly appraised. If one party tries to claim that some property is less valuable, you could end up with the short end of the stick, so to speak.

Why You Need Steven N. Cole, LLC on Your Side

Our firm understands all of the various elements to property division, and we can help you ensure that you are not being cheated out of what rightfully belongs to you. As soon as you choose to work with our firm, we will launch a full-scale investigation into many different aspects to your divorce, and we are dedicated to seeing that your future is provided for.

Here are some aspects to the division process that we will investigate:

  • The value of property: Make sure your spouse does not claim values that are too low or too high.
  • Upside-Down mortgages: If your house is under water, spouses can negotiate an agreement to maintain ownership of the home and sell it off after the divorce.
  • High-asset divorces: Litigation may be necessary to determine the value of a property or a business. This process may even include the advice of business experts or realtors.
  • Retirement assets: The court will divide retirement accounts according to the circumstances of your marriage, as appropriate under Arizona law.
  • Hiding assets: If your spouse is hiding assets, you may also need the help of a forensic accountant.
  • Debt: While some debts might be settled fairly, others may not. Some spouses seek revenge by maxing out credit cards to make your financial burden worse.
  • Prenuptial or Postnuptial agreements: If you and your spouse have already entered into agreements that include details about property division, these can be reviewed and applied during settlement.

Don't sacrifice your future if you are facing a divorce. Contact Steven N. Cole, LLC for help from an assertive and experienced Arizona property & debt division attorney. We offer consultations to provide you with open and honest advice while helping you move forward with your life.