Should I have a Premarital Agreement?
A prenuptial agreement is a binding legal document between a prospective husband and wife, which addresses the financial consequences of their marriage ending.
Technically, all couples who are married already have a "prenuptial agreement" - it is the particular divorce laws of the state. In Arizona, for example, absent a prenuptial agreement, community property principles will apply to all financial aspects of the … Read More
Business Valuation in Divorce Proceedings: Understanding of the Basic Approaches to Value
In many cases, one of the most contentious and difficult issues in a divorce proceeding is the valuation and distribution of marital property. When the marital community owns an interest in a business, this process can be complicated and expensive. Often, the community's interest in the business is the most valuable asset of the marital estate. Whether you are the "in" or "out" spouse, it is … Read More
Potential Benefits of Divorce Mediation
Divorce mediation is a process of resolving disputes by engaging a neutral third party who acts as a facilitator, assisting the divorcing spouses in reaching an agreement.
This is a voluntary process, meaning both parties must agree in order for it to occur. Unlike arbitration, the mediator is not empowered to make any decisions. Because mediators are by definition "neutral", they should not give legal … Read More
What is Community Property Law in Arizona and Why Does it Matter?
Arizona is a community property state and community property law controls the division of all assets of your marital estate.
Community property law sets forth a presumption that all real and personal property acquired during marriage is community property - meaning that the "property" is owned 50% by Husband and 50% by Wife. "Property" is not limited to houses and cars, but also includes businesses, … Read More
Business Valuation in Divorce Choosing a Valuation Expert
Whenever a privately held business is among the assets in a dissolution proceeding, certain fundamental issues must be addressed in the context of determining the value of the business. If the business is relatively small in terms of the gross revenue it generates, the first issue is often whether the business is worth valuing.
The cost of having a qualified professional value the business and produce a … Read More
Arizona's Child Support Guidelines What Every Parent Should Know
Arizona law requires custodial and non-custodial parents to provide "reasonable support" for their minor children. A.R.S. § 25-501(A). This obligation is not avoidable. In the midst of a divorce, the right to receive this support and the amount owed by each parent can be overlooked. To ensure that parents prioritize their obligations to their children, Arizona courts impose the "best … Read More
How is Spousal Maintenance Determined?
Nothing is more difficult than predicting what a judge will decide is the appropriate spousal maintenance award on any given set of facts. This uncertainty can be traced to the statutory factors that a judge is compelled to consider to decide if a person is entitled to receive spousal maintenance and if so, the amount and duration of the award. The factors, as set forth in A.R.S. §25-319(B) and … Read More
Successfully Employing Mediation to Settle Issues in Your Divorce
Getting divorced can be both emotionally exhausting and financially devastating. Couples may consider mediation as one method to transverse through the dissolution of their marriage with less acrimony and potentially at lower cost to the divorcing couple.
We often attempt to resolve divorce cases through mediation and in most cases we achieve that goal. Generally, there are strategies that help … Read More
Why Arizona Business Owners Need a Premarital Agreement
Arizona is a community property state which means all property acquired by either spouse during the marriage is, by statute, presumed to be community property. The characterization of property as either sole and separate property or community property is established at the time the property is acquired. Accordingly, in divorces when one of the spouses is the owner of a business established prior to the marriage, … Read More
Use of a Jointly Engaged Valuation Expert in a Divorce: How to Make the Process Work
In recent years it has become more common for divorcing spouses to agree to jointly engage one expert to value the marital interest in a business or professional practice. While choosing one expert is not suitable for all situations, the potential benefits of using one expert include saving time in the process, reducing the cost of the valuation and increasing the possibility of negotiating a resolution … Read More