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April 12, 2012adminNo CommentsDissolution - General, Uncategorized Child Custody, Child Support, children, credit card, Division of Assets, Division of Debts, Divorce, finances, Liabilities, Parenting Time, Spousal Maintenance
In Arizona, proceedings to end a marriage are called a dissolution of marriage. Arizona is a no-fault state, meaning that one person does not need give a reason why the marriage is over, but must simply state that it is irretrievably broken and there is no likelihood of reconciliation.
Most people do not get married without at least some planning and forethought. But a number of people say to their spouse, “I want a divorce,” without knowing what that means other than they will no longer be married.
The case is initiated by filing a petition for dissolution of marriage. But, before ever getting to that point, it is important to have a good idea of your finances, debts and how you envision life after divorce.
Dissolving a marriage is a complicated process that involves children’s issues, financial ramifications, tax implications, dividing assets and debts. It may involve someone paying or receiving spousal maintenance. Do you have current copies of all investment and bank account statements? Have you carefully reviewed the last several, or more, months of statements for any suspicious activity? Do you have a current credit report and copies of all credit card statements? Do you know what your house is worth and what you owe on your mortgage? Do you own a business? Where do you intend to live after the dissolution is granted? If you have children, how would you want to divide custody and parenting time? These are all important questions to ask yourself before beginning this process. A qualified attorney can assist you with this life-changing event. Knowledge and a frank discussion about possibilities builds a good foundation for the process. Trying to handle everything associated with a divorce on your own, without any legal assistance, can be costly because you may be agreeing to things that you otherwise would not have to or want to. You may give up assets to which you are otherwise entitled or parenting time with your children. Some mistakes can be corrected. With others, there may not be anything that can be done.
If you are considering a divorce or your spouse has said the D word to you, please call to schedule a consultation to make sure you are as prepared as possible for the process.
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