In many divorces, one of the most contentious points is the division of property and assets. Couples have a difficult time giving up things, compromising, and coming to agreements. Examples of assets that may be subject to division in a high asset divorce include real estate, cars, stocks, business and partnerships, investments, and pensions among other things. When a couple has significant assets and get divorced, courts considered the dissolution a high asset divorce.
Different states have different laws on what constitues separate property and community property. In Arizona, any property that one spouse owned before entering a marriage or gained after dissolution of marriage was filed is considered separate property, while anything obtained during the marriage is community property.
High asset divorces usually involve wealthy couples with complicated investment portfolios, multiple real estate properties, and vehicles. In Arizona, these cases generally require the insight of financial advisors, tax experts, and a Phoenix divorce lawyer. Often times, spouses do not play fair and either attempt to hide assets or greatly exaggerate their own financial needs. An attorney can serve help protect your standard of living and resolve your disputes.