Arizona has adopted laws that govern asset and debt division and distribution. Arizona's laws are based on the idea of “community property,” meaning that any asset or debt that was acquired during the marriage is to be divided equally between the parties, but individual property or debt that can be proven to have been acquired before the marriage reverts to the original owner. Inheritance is also considered to be the rightful property of the inheritor only and not subject to asset division. The court will require documentation proving that assets fit into one category or the other.
The division of assets and debts can become a fierce combat zone. It is important to have an aggressive, skillful, and professional attorney to help you defend and pursue your financial interests. If you have questions about property or debt, contact McKay Law for a free consultation.