Mesa Division of Assets Lawyer
Your assets are determined by statute, meaning the Mesa Family Court located at 222 N Javeina Dr has to identify any separate property and award it to the proper owner. Judges are legally obligated to identify, categorize, and equitably divide all cumulative property and debts between both parties during a divorce. Within the first 45 to 60 days of a marriage dissolution, the spouses exchange disclosure statements that are supposed to include all of their assets, real estate, vehicles, retirement and other bank accounts, property, and debts.
You can submit a written discovery through interrogatories, which are written questions parties have to answer under oath. You can also file a request for production of documents and even subpoena accounts and records with the help and dedication of a Mesa division of assets lawyer. These methods of discovery allow both parties and their legal representatives to get information on all of their assets and financial liabilities.
How Does a Marital Contract Affect the Distribution of Assets?
There are several different types of marital agreements that couples can enter into either before or during their marriage. These contracts between spouses can influence divorce proceedings in terms of dividing marital property. For this reason, it is best to work with the asset division attorneys from our Mesa location at Dana Park during the drafting stages of any marital agreement to make sure your property rights are protected.
A prenuptial agreement is a written contract between two spouses that makes any assets acquired during their marriage into cumulative property. These agreements are entered into before a couple gets married. In Mesa, several conditions must be met to make a prenup enforceable.
Both parties have to get an opportunity to retain legal representation to make things fair. There also has to be a complete disclosure of all income and assets, or the contract won’t be legally binding. Finally, the agreement has to be fair because it affects income, property, and debts during the marriage. For example, if somebody has a lot of separate property that they don’t want be co-mingled and become community over time, or if they want to keep their debt separate, they can use a prenuptial agreement to handle those kinds of situations.
A postnuptial agreement is entered into after a couple gets married, and it does the same thing as a prenup. However, it is only effective from the date they sign and during the rest of their marriage. Couples in Mesa who want to enter into a postnup agreement should consult a local asset allocation attorney to ensure that their property rights are adequately addressed.
According to state law, debt incurred within a marriage should be divided equitably, which basically means an equal division. However, if one person incurs student loans before the marriage, they may allocate that as separate debt. If one party incurs debt during their marriage without the consent of the other, the judge may assign it as sole ownership to the spouse who incurred it.
Understanding which debts incurred during your marriage would be allocated during a divorce can be made easier when you enlist the services of a skilled and well-versed Mesa division of assets lawyer from our firm. Get in touch with our diligent legal team today to have your questions answered by a professional.