Asset and Property Division

Discussing asset division and property division during a divorce is important for protecting the resources you acquired during the marriage. However, separating couples tend to disagree on the assets and the values involved in their union, complicating the division process.

Our professional divorce lawyers at Lawrence & Jecmen PLLC have the resources and experience to resolve such complications. With years of experience in handling divorces, we are confident in resolving yours. Learn more about our asset division solutions.

How Does Asset Division Work?

Dividing assets depends on what kind of property is involved in the divorce. Assets that you acquired during your marriage usually involve:

Community Property

This type of property involves everything that either of you earned or purchased while married, with limited exception. Each spouse is entitled to receive or be compensated for an equitable (usually equal) portion of the couple’s community property. Community property can include houses, cars, furniture, garments, bank accounts, retirement assets and debt.

When it comes to debt, both spouses are responsible for the debt incurred during the marriage, typically without regard to which spouse actually used the available credit. As such, the debt division will also be equitable (usually equal). There are exceptions to all of these rules. You should certainly consult with an experienced attorney to find out how these rules apply to your assets and debts.

Should you and your former spouse fail to agree on how to split your community property, getting a professional divorce lawyer is a good move. Allow our attorneys to help you find a way to settle your community property division.

Separate Property

This type of property includes assets that you owned before you got married and those that you acquire after the “community end date”. Gifts and inheritance money that you received while married also count as separate property because they were meant for you.

You have a legal right to claim ownership over your separate property when going through a divorce. Determining whether an asset is a separate property requires that you trace the ownership history of the item.

When you and your spouse disagree on the dates involved regarding your assets, get a lawyer to help you navigate the situation. Our legal professionals can assist you in gathering evidence that determines your separate property.

Commingled Property

This type of property combines community and separate property. For instance, you kept the same job before, during, and after marriage. Your earnings during marriage are community property while your salaries before marriage and after divorce are separate.

The complicated nature of commingled property makes professional legal assistance necessary in dividing it between spouses. Consult with our divorce experts to resolve your unique asset division situation and come to a sound agreement.

Professional Asset Division and Property Division Lawyers

With years of experience in resolving property disputes during divorces under our belt, we are confident in resolving your situation. Allow our experts at Lawrence & Jecmen PLLC to assess your case and determine the best way to satisfy every party involved. We are dedicated to thoroughly reviewing all cases we accept to help clients comfortably begin a new life post-divorce.

Consult With a Professional Asset Division and Property Division Lawyer

We understand how complicated navigating a divorce can be. When it comes to asset division, consider getting a professional lawyer to guide you through the process. Contact our seasoned attorneys at (602) 807-1400 to discuss your situation today.

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