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Use a property division checklist to prepare for divorce

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Once you're 100 percent sure that you're divorcing your spouse, it's time to turn your attention to your legal rights in Arizona and the steps you can take to protect them. While this means many things, matters of property division typically move to the forefront.

It's important that you receive all the assets that you're entitled to, as neglecting to fight for them could cause you financial stress in the future.

Creating a property division checklist will put you on the right path, as you'll have a clear idea of the assets that require your attention during the divorce process. This also allows you to draw a line between separate property and marital property.

Here are four categories to include in your property division checklist:

  • Business assets: If you and/or your spouse own a business, some of the assets associated with it may be subject to division. These can include assets such as commercial real estate, business bank accounts and business equipment.
  • Real estate: The most common forms of real estate include the marital home, vacation home, rental property, business property and undeveloped land.
  • Personal property: This category often includes the most items, such as artwork, china, crystal, furniture, clothes, collectibles, electronics, guns, jewelry, home office equipment, motor vehicles, recreational vehicles, ATVs, campers and boats.
  • Financial assets: There's a good chance this is the most valuable category, so it calls for extra attention. This category can include assets such as retirement accounts, bank accounts, cash, educational accounts, stocks and bonds, mutual funds, annuities, certificates of deposit, life insurance policy cash values and annuities.

When creating a property division checklist, pay close attention to any assets your imminent ex-spouse may attempt to hide from the court. For example, if you're familiar with cash that this person has been saving, bring it to light as soon as possible.

There is no way to know exactly what will happen during the divorce process, but the creation of a property division checklist will definitely put your mind at ease. It will position you to best prepare for mediation and/or litigation, while also giving you peace of mind that you're protecting your legal rights.

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310 S. Williams Blvd
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Phone: 520-518-3781
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