Complex Property Division Attorney In Paradise Valley, AZ
No one gets married anticipating divorce. However, divorce cases are filed every day in the Maricopa County courthouse. When the divorcing couple owns a diverse portfolio of assets, property division can become extremely complicated. Whether you are raising a young family in the Camelback Country Estates or you are an entrepreneur living in Tatum Canyon, you must hire an experienced Paradise Valley complex property division lawyer.
Hire a Lawyer from Ellsworth Family Law, P.C.
For over twenty years, the attorneys at Ellsworth Family Law, P.C. have led with integrity, honesty, and diligence when it comes to representing their clients. Two of our partners, attorneys Steve Ellsworth and Glenn Halterman, are Certified Family Law Specialists. This means they are ready to bring legal care and excellence to your case that few other law firms can. If you are concerned about the property division process in your divorce, we are here to help.
What Makes A Property Division Case Complex in Paradise Valley?
The state of Arizona sees a rather low divorce rate of two cases per every 1,000 members of the population. However, it also hosts some of the fastest-growing cities in the country. Paradise Valley residents see a median household income of $236,250, which is a 6.74% increase in a single year.
With so much wealth at stake, property division cases become complex. There are additional factors that further complicate these cases, including:
- Hidden assets. In cases with complex assets, one spouse may be tempted to conceal or undervalue these assets in order to gain the upper hand. If you suspect your spouse is hiding assets, you will want to hire a forensic accountant. They can work with your lawyer to uncover all assets involved.
- Business interests. When a business or business interest is owned by a divorcing couple, valuing and dividing these assets can be complex. These cases typically require assessment of all ownership percentages, debts, earning potential, and revenue.
- Investments or retirement accounts. If the divorcing couple owns any kind of stocks, 401(k)s, pensions, or other similar investment accounts, unique knowledge is often required. Legal tools like QDROs, or Qualified Domestic Relations Orders, can ensure that all assets are divided correctly.
- Real estate holdings. In cases of complex assets, couples usually own more than just the family home. Between you and your spouse, you may own various residential or commercial rental properties, vacation homes, or even properties in other countries. This can present both valuation and jurisdictional challenges.
- Allocated debts. In addition to the division of all marital or community property, any debts that were obtained during the marriage will also need to be allocated. This alone can complicate the overall financial picture of a divorce.
How Is Property Divided?
Arizona is similar to many other states in its rules for property division. Their goal is to split assets as evenly as possible. However, there are factors that can make this more difficult and change the overall ratio of assets for each spouse.
When a couple owns complex assets, they likely had a high standard of living during the marriage. This means that the courts will likely attempt to maintain a similar standard for each spouse. This is more important if the couple has been married for a long time.
Even if one spouse has a disproportionately high income compared to the other, there are other factors that can affect property division. Sacrifices that one spouse made for the other are also considered. For example, if one spouse quit their job for the couple to move for the other spouse, this would be considered a sacrifice.
Also considered is the ability for each spouse to earn an income independently. This is called their earning potential. Even if one spouse does not have many assets individually, if they are older or lack job training, they might receive more due to a lack of earning potential.
Arizona considers all property acquired during a marriage to be communal in nature. This means it is subject to a 50/50 split between the spouses. There are some exceptions, but the goal is for the division to be fair and equitable.
However, if one spouse needs a certain asset, then they might give up another asset entirely. A 50/50 split does not need to apply to every asset individually. This is an area where an attorney can make sure assets are split in a way that makes sense.
How an Attorney Can Protect Your Financial Interests
Dividing complex assets correctly requires both a deep understanding of Arizona family law and knowledge regarding tax law, finance, and business valuation. The experienced legal team at Ellsworth Family Law, P.C., can assist your complex property division case in the following areas:
- Fighting for your rights. Our team aims to negotiate settlements that are fair and work in your favor. When necessary, we are fully prepared to take your case to court and argue your side of the case before a judge.
- Working with financial professionals. We regularly collaborate with appraisers, financial valuation specialists, and forensic accountants to ensure the value of all assets held within your marital estate is accounted for.
- Uncovering any hidden assets. If you suspect your spouse is hiding assets, we are well-versed in the financial and legal methods necessary to uncover this behavior and hold your spouse accountable.
- Maintaining compliance. At Ellsworth Family Law, P.C., we are here to ensure that all community property held within your marriage is identified, valued, and divided in a manner compliant with Arizona state law.
If you have concerns regarding the complexity of your marital estate and how property will be divided during a divorce, Ellsworth Family Law, P.C. is here to protect your rights.
Hire a Complex Property Division Lawyer Today
If you are going through a divorce in Paradise Valley and own a considerable number of assets, you need to hire a seasoned complex property division lawyer as soon as possible. At Ellsworth Family Law, P.C., we are here to serve you.
We know how hard you have worked to accumulate your wealth and want to do everything possible to protect your rights. Contact our office today to schedule your initial consultation.
Client Testimonials
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“Attorney Steve Ellsworth is THE BEST IN THE VALLEY! He really took the time to understand my custody case, made my case feel important, prioritised speaking with me though he had a very tight schedule and his knowledge of family law is incredible! He really values his clients, I don’t know what I would have done without him. His staff is very friendly and attentive as well. Ellsworth law is worth every penny and they were able to work with my budget to setup a payment plan. I MOST DEFINITELY will be using Ellsworth law for all my family law needs!”
— Alexis H.
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“Had a quick question. Called other places beforehand but none were willing to assist without me going in. However the lady who answered the phone just assisted me and answered my question without even batting an eye, she even put me on hold and went and clarified with someone before giving me a for sure answer. The fact that they at least answered the question without asking for me to come in or for compensation made me extremely happy! I know this isnt a review on a law service they provided after paying, but still wanted people to know how much I appreciated the fact they did something no other law group I called would. Just answer a simple question.”
— Isaak F.
We encourage you to read our Yelp Reviews and third-party ratings. Our strong reputation reflects our commitment to personalized service and real results for every client.
Ellsworth Family Law, P.C. – Paradise Valley, AZ Office
1630 S Stapley Dr #200, Mesa, AZ 85204
