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.
Divorce can be all-consuming. You can become so focused on the immediate that you forget to consider the long-term picture. Much the same way that your wife became so concentrated on growing the business that she seems to have forgotten about you and the children.
Arizona is one of only nine community property states. As such, Arizona law holds that, generally, all assets you and your spouse acquire during your marriage become marital property that belongs equally to both of you, regardless of which of you actually acquired or paid for it.
Hidden assets are a common issue in a divorce situation, but they do not have to be a problem in yours. In some cases, hiding assets is one spouse’s way of trying to walk away with more from the property division portion of the divorce.
