Marriage can be tough, and when the challenges of legal relationships become too much, some Arizona residents decide to go through the divorce process. A divorce breaks the bonds that unite two lives together and allows them to resume their separate existences. But, a divorce is about so much more than an ending; it is about setting up a new beginning for the individuals and their families.
Though the notoriety and financial benefits of celebrity may appeal to some Phoenix residents, few individuals would actually like to live under the spotlight of Hollywood fame. Celebrities are subjected to a level of scrutiny that may cause some to flee for more normal existences, so they don't have to see every misstep of their lives played out in the news. One former celebrity couple has made the news for years as they have attempted to end their highly publicized marriage.
Property questions that arise during divorces in Arizona can be tricky and their outcomes can be influenced based on how couples acquired and maintained their property and wealth. For this reason, individuals who have questions about how their assets will be divided during their divorce should talk directly with their attorneys.
Ending a marriage is a difficult process that can be made more complicated when complex assets are involved in the division of the parties' property. For example, when one of the parties to a divorce owns and operates their own business, questions may arise regarding if that business should be viewed as separate or martial property. This post will address the benefits of having a contract in place that explains how a business should be divided during a divorce, but how the matter may also be handled if such an agreement does not exist.
Most Arizona residents know the name, Jeff Bezos. In the last year, he was named the richest man in the world, due, in large part, to his role in making Amazon a staple in households around the world. However, Bezos is also a husband and father, and, despite his dramatic wealth, he is a person who must deal with everyday problems.
It is an often-noted statistic that around one out of every two American marriages ends in divorce. That is to say, about half of all couples who choose to marry will eventually end up in divorce court, sorting out the ends of their relationships. However, younger Americans may be changing this trend and individuals in Arizona and around the rest of the country may be witnessing social changes that have contributed to a dropping national divorce rate.
When the partners choose to end their marriage in divorce, their assets and possessions will be subject to division based on the state's community property laws. Community property is one way that property may be classified as marital or separate, and then split between the partners to an ending marriage. Here, courts attempt to divide marital property evenly.
The prospect of divorce is something that may put those involved in a highly emotional state for many different reasons. The investment that all parties put in from both an emotional and financial perspective can make the process feel as if everything is on the line. In these instances where the divorcing couple has to deal with so many complex and important issues, it can be easy to feel like divorce is a must-win game of assets, child custody, and more.
Although many people enjoy their jobs and find meaning in going to work each day, for most a career is simply a path to retirement and financial freedom. Arizona residents hope that if they work hard and save some of what they earn that eventually they will have enough to live off of and to carry them through the ends of the lives. While retirement savings do benefit many people, those savings may be impacted by a divorce.