One of the most frequently asked questions about divorce is who will get what, and if the parties cannot agree how the Court will determine how property is divided. The goal is to reach a conclusion regarding property distribution that is fair to both parties. But don’t make the mistake of assuming this means that the division will be an equal 50/50 split, with each party taking the exact same number of things.
Throughout the process of divorce several issues are resolved. The final decree will include provisions for where the kids will live, who will pay child support and in what amount, whether spousal support is in order and how the couple’s property is separated. The two types of property subject to division during divorce include:
- Separate property: this type of property is property that was owned by one of the parties prior to the marriage or received by that party as a gift or inheritance. As long as the property has not been commingled with marital property or otherwise changed status, the rightful owner of separate property is the party that owned it prior to getting married.
- Marital property: this type of property is property that the couple acquires together over the course of their marriage. This is the property that the Court will concern itself with when dividing things among the litigants. Common examples of marital property include the family residence, vacation homes, cars and boats, and other items that have been accumulated during the marriage.
In addition to dividing assets, the Court also divides debt. Each party will be responsible for repayment of certain debts, but if the debt is joint debt it is important to know that the lender does not have to look solely to the party ordered by the Court for payment. If your spouse fails to pay court ordered debts, the creditor may contact you in an effort to collect what is due. If that happens, you do have a remedy. The way to handle this type of issue is to file a motion for contempt within your divorce, and ask the divorce court to hold your ex in contempt of court for the failure to pay as ordered.
For more information about divorce, call us today. Let us put our experience to work for you. Call The Sampair Group in Phoenix and the West Valley today to schedule your appointment.