Going through a divorce is a rough experience for anyone, but it can be especially challenging for business owners. This is because one of the things they’ll have to do is determine what’s going to happen with the business.
Arizona law dictates that most things acquired during a marriage count as community property. In other words, they belong to both partners, so they need to be shared in divorce.
Financial responsibilities are rarely evenly distributed in a marriage, however.
Divorce has a way of shaking up your life. Even if you’re confident that it’s the right decision, it will cause you to question your past relationship and future. And when you begin to do that, it’s natural for an extreme amount of stress to take over.
Dividing retirement accounts can add complexity to your divorce. You may hold these in your name alone. But if you added funds – or if they increased in value – during your marriage, you must split any gains with your spouse.