While divorce can be an emotionally draining process, it can also be financially difficult as well. One of the most common reasons the divorce process can drag out is the difficulties in assessing and dividing a couple’s finances and assets. If you or someone you know are considering getting a divorce, there are some matters to consider beforehand – especially if you have a large amount of assets.
It is important that you take complete inventory of your assets, financial accounts and property as well as your debts, obligations, and monthly expenses. You will also need to understand the difference between the property acquired during your marriage which will be presumed to be your community property together and your sole and separate property that you had prior to the marriage or received from gift or inheritance. These inventories and understandings not only will be key in the eventual division but will be crucial in moving the divorce process along more quickly.
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If you find yourself, a friend or a loved one are in need of family law assistance and help protecting your assets, please call OWENS & PERKINS at 480.630.2464 to schedule your free 30 minute consultation.
Owens & Perkins has proudly been serving the Valley of the Sun since 1967 and we would be honored to put our experience to work for you.
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