Money is a stressful topic for many married couples. In fact, it is one of the top marital woes that contribute to divorce.
Divorce can present a number of challenges to retirement plans for people in Arizona. If each person has been saving for retirement and has a roughly equal amount of savings, they might each decide to keep their own retirement account. This can be a simple way of dealing with property division.
It isn't uncommon for married individuals in Arizona and throughout the country to have student loan debt. When that debt is acquired could play a role in how it is managed in a divorce. Generally speaking, debts accumulated before a marriage remain the responsibility of the person who accumulated them. Debts that were accumulated after a marriage begins could be considered marital property. This means that both parties to the relationship could be liable for repaying them.
Divorces can be incredibly contentious affairs. One Arizona couple has found themselves locked in a bitter divorce battle over allegations of poisoning. One spouse wanted to invalidate a will to prevent his wife from getting $900,000, but the judge has agreed to uphold the prenuptial agreement.
As stressful as a divorce is, it can become even more stressful for a person in Arizona after a job loss. If the person is the higher-earning spouse, there could be concerns about how to pay support.
A couple contemplating a divorce has many questions. After building a life together, it can quickly become overwhelming to consider dividing it and starting over as single individuals.
Arizona business owners may have unique concerns when they begin to suffer marital difficulties. Of course, the financial consequences of a divorce can persist long after the emotional and practical issues have been resolved. For the owners of small, closely held companies, the effects can be felt more severely than usual. In many of these cases, the business itself may be the largest marital asset and a major source of the couple's income. Therefore, they may worry that the future of the business is at stake, especially when the couple cannot continue to work as partners after the divorce.