Tempe Debt Division Lawyer
When married couples decide to divorce, they often immediately think, "Who will get the house? What about our cars? Or the furniture?" However, this division of marital assets is only half of the story. Any and all marital debt must also be divided between the parties.
I am Tempe debt division attorney Dianne Sullivan. For several years, I have represented Arizona residents through the divorce process. I understand the state's property and debt division rules and know how to apply them to different situations. Call my law firm, Sullivan Law Office, at 602-910-6142 or 866-591-6938 to learn more in your initial consultation.
All Marital Debts Will Be Divided
As your dedicated lawyer, I will help you identify all debts that should be deemed marital. I can also assist you in making arguments against having certain debts seen as marital. Once all debts are categorized properly, I will help you make an argument for fair and equitable division.
Common debt division agreements address:
- First and second mortgages
- Car loans
- Credit cards
- Loans against a 401(k) or other retirement account
While courts traditionally divide a debt along with an asset (such as the mortgage with the family house), this is not always the case. Seek out my experienced family law legal services to ensure the portion of debt you receive is fair.
The Division of Debts Is Not Always Straightforward
In Arizona, marital debts are divided along the principle of equitable distribution. This often means equal. However, there are numerous exceptions or caveats to this rule that can greatly affect which party receives which debts. These exceptions include:
- Bankruptcy: The filing of bankruptcy or past bankruptcies can have a significant impact on how much of the debt you should take.
- Waste: If one spouse wasted community assets, he or she may end up taking a larger share of the marital debt.
- Adultery: While Arizona is a no-fault divorce state, adultery can come into play in the division of debts, especially if the cheating spouse spent money on his or her extramarital affair.
Contact Me, Maricopa County Equitable Distribution Attorney Dianne Sullivan
For help understanding how debt division is considered within a divorce settlement agreement, contact my Tempe law firm today.
