Arizona is a community property state. When it comes to property distribution, most assets acquired during the marriage will be equally divided. This usually includes earnings, income, and contributions to retirement plans made during the marriage.
There are, however, a few exceptions to this general rule. A spouse’s real and personal property that is owned by that spouse before marriage or is acquired by that spouse during the marriage by gift, devise or descent is the separate property of that spouse. Property that is acquired by a spouse after service of petition for dissolution of marriage, legal separation or annulment is also the separate property of that spouse if the petition results in a decree of dissolution of marriage, legal separation or annulment.
If you have questions on whether certain assets would be considered community or sole and separate property, contact Owens & Perkins at 480.994.8824 for a complimentary one-half (½) hour consultation.
