Splitting up community property and addressing debts is one of the more difficult facets of going through a divorce. The marital residence is often a place of fond memories as well as difficult times. One decision that must be made is who, if anyone, gets to keep the marital home. Some couples find that selling
Category: Property Division
“DOUBLE DIPPING” IN DIVISION OF A BUSINESS AND IN SPOUSAL MAINTENANCE CALCULATIONS
If you are divorcing and you or your spouse own a business, it is important to be aware of the concept of “double-dipping” as it applies to asset division and spousal maintenance awards. Because Arizona is a community property state, if a business was started – or if the value increased – during a marriage
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THE NEW TAX LAW AND REAL ESTATE OWNERSHIP
Now that we have explored the effect the new tax law will have on spousal maintenance, we will address the impact the tax law will have on real estate ownership. In divorces, often one spouse keeps the former marital residence and the other spouse will purchase a new home, or the parties will sell the
FILING FOR DIVORCE- TO TELL OR NOT TO TELL
Many times in the first consultation or very beginning stages with a new client, they will ask me if/when they should discuss with their spouse that they have hired me and are filing for divorce. This is a tricky question because it is such a personal decision for many. My advice is usually tailored to
MARKET APPROACH FOR BUSINESS VALUATIONS
Again, a business valuation will utilize three (3) different approaches to analyze and reach a conclusion on the value of your business: The income approach The asset approach, and The market approach This week we will discuss the final approach – the “market approach”. In basic terms, the valuator is looking at other similar business
ASSET APPROACH FOR BUSINESS VALUATIONS
A business valuation will utilize three (3) different approaches to analyze and reach a conclusion on the value of your business: The income approach, The asset approach, and The market approach This week we will discuss the “asset approach”. In this approach, we are strictly looking at the balance sheet for the business along with
INCOME APPROACH FOR BUSINESS VALUATIONS
As we discussed in the last blog, a business valuation expert will utilize three (3) different approaches to analyze and reach a conclusion on the value of your business – the income approach, the asset approach, and the market approach. This week we will discuss the “income approach”. Under an income based approach, the business
Disclaimer Deeds
There is nothing worse than meeting with a client for the first time and having to explain to the unsuspecting person that they have given away their rights to their largest asset, their house. Most people do not understand that they are significantly reducing their entitlement to equity in their property simply by signing a
Taking Title to Real Property
In Arizona, there are two (2) common ways for married people to hold title to real property: (1) as community property with right of survivorship; and (2) as joint tenants with right of survivorship. “Right of survivorship” means that ownership of the property automatically transfers to the surviving party upon the death of the other
The Cleanest and Most Effective Way to Keep Your Sole and Separate Property
In the last three blogs we covered different types of assets and things that you can do to keep your sole and separate property yours in the event of a divorce. The cleanest and most effective way of identifying what is yours is to enter into a Prenuptial Agreement with your spouse, prior to getting married. A
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