The thought of a divorce paints an immediate picture of spouses battling one another because things couldn’t work out. They can disagree about everything and anything, ranging from property sharing to children’s custody. However, some couples opt for negotiations not because they will benefit but to avoid gloomy dramas. Such couples will go to a family law attorney in Mesa to advise them on how to go about the situation. Other couples divided up debts before finalizing the divorce process.
Like every community property state, divorcing couples in Arizona must split all debts they accumulated during their marriage. Properties that either of the spouses acquired before the marriage or as gifts during the marriage are regarded as separate individual property. They are not included in the property that the spouses are expected to split.
In a community state property, debts are treated differently from other states. For instance, if one of the spouses incurs private expenses such as a car loan during their marriage, they will split the debts equally because of the community property policy. However, debts incurred before the marriage and after divorce are not included. The Arizona State laws imply that the divorce may leave you with more debts than you expected.
Although you may not be legally obliged to bear the burden of your spouse’s separate debts during a divorce, you have a role to play. If your children are left under your spouse’s custody, you want to ensure that they get the best care. Debts will interfere with your spouse’s ability to provide for the children. You can pursue separate agreements such as a different property division strategy or taking up more debts.
However, it’s advisable to be cautious when setting separate agreements bypassing the community property laws. You won’t modify the agreements after the divorce. Ensure that you don’t bind yourself to agreements that you’ll regret later.
A situation may arise where one of the spouses files for bankruptcy after concluding the divorce. The primary question that individuals ask is whether the other spouse will be affected by the bankruptcy. The spouse won’t be affected by the former spouse’s financial status. Even Chapter 13 Bankruptcy Act would have an almost insignificant impact on the former spouse if the case were concluded successfully.
According to Chapter 13 Bankruptcy, the spouse will have the debt payment reorganized into different plans. The former spouse will not be involved in the debt payment unless they agree on personal levels.
Do you have any questions regarding the division of family property during a divorce? Call Jensen Family Law Firm or visit the company’s offices. You can also find more information through this URL: https://www.familylawattorneymesaaz.net/.
Jensen Family Law
3740 E Southern Ave Suite 210
Mesa AZ 85206
Jensen Family Law in Mesa is located on 3740 E Southern Ave Suite 210, 85206 Mesa, Arizona. From Phoenix Sky Harbor International Airport (PHX), Take S 41st St to E Sky Harbor Blvd, then Head west on E Sky Harbor Blvd and Use the left lane to take the exit toward S 41st St. Then Turn right onto S 41st St. After that, Continue straight to stay on S 41st St, then Take AZ-202 Loop E, AZ-101 Loop S and US-60 E to S Val Vista Dr in Mesa. Take exit 184 from US-60 E after that Merge onto E Sky Harbor Blvd, then Use the left 2 lanes to merge onto AZ-202 Loop E toward Tempe/Mesa and Use the right 3 lanes to take exit 9 to Merge onto AZ-101 Loop S. After that, Use the right 2 lanes to take exit 55A-B to merge onto US-60 E toward Globe, then Take exit 184 for Val Vista Dr. Then Continue on S Val Vista Dr to your destination and Turn left onto S Val Vista Dr. Turn right onto E Southern Ave, then Turn left and Destination will be on the right.
We’re open 9AM – 5PM Monday – Friday and we are closed on Saturday and Sunday.
For additional questions you can call us at (480) 999-2321 ro you can find us on Yelp.