Divorce Lawyers In Tucson Az – Arizona Family Law Court can be a long and tedious process, sometimes lasting months or even years. Not everyone has the time and patience to wait for a hearing before learning about important legal issues that affect their daily lives. For issues such as child custody, child support and property division, it is necessary to obtain a court order before any trial. Here at Genesis Family Law and Divorce Attorneys, we work with Arizona judges to help families and individuals obtain temporary orders from the court to address immediate issues that can later be adjusted in actual court proceedings. Below are some common questions that families and individuals have when considering temporary orders.
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Bloomfield Hills Bloomfield Hills, MI21 E Long Lake Rd #250, Bloomfield Hills, MI 48304MESAMESA2915 E Baseline Rd STE 115, Gilbert, AZ 85234GILBERTGILBERTGILBERT, AZ ERCHANDLER333 N Dobson Rd #5, Chandler 52702702 SC 85234GILBERTGILBERTGILBERT333 N Dobson Rd #5, Chandler OTTS 8 Randale, 274 SC # 336, Scottsdale, AZ 85258florenceflorence3281 N. Hunt Hwy Suite 111 Florence, AZ 85132GLENDALEGLENDALE7075 W Bell Rd # 5, Glendale, AZ 85308 St. Are you getting divorced in Tucson, USA, 85004? Are you concerned about issues such as child custody, child visitation, spousal support and division of property and debt? Wrong decisions are often made due to a lack of understanding of the law.
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If you are unsure of your rights, you should consult with a Tucson family law attorney. Once a Tucson divorce attorney receives information about your case, he or she can address your specific needs. Our company is committed to serving our customers. We do our best to win. At our firm, we will use our experience and knowledge of family law to protect your rights and fight for the best outcome for your case.
At My Arizona Lawyers, our Tucson divorce attorneys strive to provide each client with divorce information and family law resources so they understand the divorce process and know what to expect when facing a divorce in Tucson, Arizona. Divorce can be a long process, and preparation is important to shorten the length of your case.
Call our firm to schedule a free consultation with an attorney. There is no obligation, just answers and help. (520) 441-1450
My AZ Lawyers’ Tuscon family law attorneys are located in Phoenix, Mesa, Glendale, Scottsdale, Avondale and Tempe. We also serve customers in Phoenix, Tempe, Glendale, Mesa, Chandler and Sun City. We also serve Gilbert, Peoria, Surprise, Apache Junction, Scottsdale, Paradise Valley, North Phoenix, Queen Creek and Apache Junction. Also includes: Casa Grande, Anthem, Sierra Vista, Prescott, North Scottsdale, and Tucson. We also cover Sedona, Flagstaff and other communities in Maricopa County. Additionally we do the following: Pinal County, Pima County and all of Arizona. If your family situation is not perfect, do not hesitate to contact a Tucon divorce attorney today. So we are waiting for your call. Our divorce clients can meet at Tucon Law Offices. At our Arizona divorce attorneys, we are committed to helping entrepreneurs and business owners make the divorce process as smooth and stress-free as possible. As divorce attorneys in Arizona, we represent many clients with high net worth or substantial assets. We regularly represent and defend the interests of high-net-worth professionals, whether it’s a contractor’s divorce, a dentist’s divorce, a doctor’s divorce, or other high-net-worth divorce-type cases. Areas of interest for entrepreneurs and entrepreneurs considering divorce include:
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As part of the divorce process, many assets and debts must be divided between the parties in a process called equitable distribution. Basically, the court classifies marital property and separate property, assigns a value to the property, and then distributes it to the spouses. The value used is fair market value at the date of division. For some items, fair market value is easy to determine, while others are more complicated.
Bank accounts are an example of an asset that is easy to appreciate. View your account balance on the date of separation. Estimating the value of a marital home is easy. The parties can order an appraisal or agree to use the taxable value of the property. On the other hand, it is more difficult to establish a value for a couple’s frequent flyer miles or qualified retirement plans. One of the valuable assets in this context is business profits.
First, we must discuss that there are factors that determine whether a business interest is separate or marital. If a business interest is acquired during the marriage using joint funds, it is considered marital property and its value must be divided equally by the spouses. If the business interests predate the date of marriage or were acquired with separate funds, they must be treated as separate property.
There are several important factors that can help determine whether a business interest is separate or marital. First, you need to look at the date of marriage and acquisition of business interests. Second, you should look at the sources of funds used to start the business, and finally, you should look at the financial and professional contributions your spouse made during the marriage.
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Acquiring a business interest before the date of marriage does not mean that the non-owning spouse cannot receive any value from it. Let’s look at an example. Let’s say your husband owns a furniture store with his father and bought his share 10 years before you got married. However, during their marriage, he invested $20,000 worth of his wedding funds to renovate the building that housed his furniture company. Later, thanks to the advertising campaign that her husband organized during her marriage, her furniture business developed significantly. Increased income. In our example, the wife receives half of the $20,000 in marital assets she contributed to the business and half of the increased value of the advertising campaign.
As you can see, the first step in determining whether business interests are separate or community property can be complicated. However, these difficulties only scratch the surface of the complexity of evaluating commercial interests.
After you determine whether a partner is entitled to a share of the value of the business profits, how do you determine how much those profits actually are? Imagine having to assign a value to the furniture business in the example above. Stores are equipped with equipment such as cash registers and computers to store merchandise, accounts receivable, and profits. Obviously, it is difficult to invest dollar amounts in your husband’s 50% in a furniture company. Also remember that the husband’s attorney will argue that the business is worth too little, while the wife’s attorney will argue that the business is worth too much.
In situations where the business interests are clearly a small asset, it is easy for the parties to agree on an amount and move forward. However, it is clear that sometimes business interests can become important assets and cause serious arguments between spouses. The following example shows how important it is to know business interests when dividing assets.
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A seemingly humble young couple decided to divorce. Sarah was a stay-at-home mom, and Michael earned an annual salary of $50,000 from a software company he partially owned. Things were very amicable when they decided to go their separate ways. Michael claimed in his financial affidavit that his ownership interest in the software company was worth $40,000. In the property division case, the judge ordered Michael to pay Sarah $100,000 to divide the couple’s assets (including her share of the software company) equally, according to the affidavit.
A few months after the ink on the order was dry, Michael sold his software company for millions of dollars. His reward was handsome. In fact, Michael knew that his interest in the company was overvalued, and other similar offers came before the divorce was finalized. Despite knowing this, he inadvertently reflected in his financial statements that his ownership interest was only $40,000. Sarah has no reason to believe that this figure is only 3% of the value of her original ownership interest.
When the truth came out, Sarah accused Michael of fraud. She fought a legal battle for 10 years before the parties reached a settlement. After paying extraordinary legal fees and expert witnesses, Sarah
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