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What Qualifies as Marital Property During a Divorce?

What Qualifies as Marital Property During a Divorce?

Marriage, family and divorce are weighty topics and most of the weight when it comes to the latter is heavy emotion. That’s why it’s not surprising that even the most cooperative individuals can get crossways during their divorce proceedings. The division of marital property is one of issues related to the divorce process that is most likely to get contentious.

For those looking to keep the negotiations in the realm of possibility (as well as behave in a socially appropriate manner), consider the following list of items that typically qualify as marital assets if they were earned during the marriage:

  • Savings Accounts
  • Family Business
  • Retirement Accounts
  • Real Estate
  • Physical Property (household furnishings, etc.)
  • Vehicles

Negotiating a division of assets (and debt) that is agreeable to both sides can be extremely difficult and, in some cases, leads to contention in the divorce proceedings. To avoid this, many consult an Arizona divorce attorney skilled in utilizing mediation as a tool to help smooth the way towards a mutually agreeable settlement. Of course, if the two parties cannot agree upon a mutually agreeable settlement regarding the division of the marital property, the issue will be taken to court to be decided by a judge.

Important tips for those seeking a resolution to a difficult division of assets should remember to try to stay calm when discussing the issues with other parties. Keeping emotion out of the discussion as much as possible will greatly increase the chances that both parties will be able to come to an agreement. It’s also helpful to remember to compromise. If it’s extremely important to you that you keep the family business without losing any percentage of ownership to your ex, then be willing to give in another area.

If you need assistance determining what qualifies as a marital asset or need help with the division of assets, contact an experienced Arizona divorce attorney. The lawyers at Arizona Family Law Attorneys have the knowledge and experience to guide you toward a mutually beneficial resolution.

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