Before you can divide the property and debts you have to know what you have. This is one of the biggest questions and possible problems when it comes to property and debt division, especially if you weren't involved in paying the bills and managing your assets.
Rule 49 of the Arizona Rules of Family Law Procedure requires each party to a divorce to exchange specific financial and income information within 40 days after filing a response to a petition for dissolution of marriage. You each are supposed to give the other copies of bank statements, real property information, debt statements, pay stubs, tax returns and the like. The following link takes you to all of the family law rules. You need to be acquainted with these as well as the statutes. www.supreme.state.az.us/rules/ramd_pdf/R-05-0008.pdf
However, it is my advice not to rely exclusively on what your spouse provides you, especially if you are the spouse with less information. You need to do your own research and investigation. If you are thinking of getting divorced but you don't know what you own and worry that you may not get complete information from your spouse, you need to gather and collect as much as you can before you start the divorce.
A form called an Inventory of Property Debts will help you to know what you need to look for. www.azcourts.gov/Portals/34/Forms/.../Form12-Jan09.doc Print off this form to see fully what information you need to try and gather.
When doing your research do not hesitate to call institutions, photocopy documents from your filing cabinet, print off documents from your computer, copy computer files (like Quicken or QuickBooks) to a thumb drive and do whatever else you need to do make yourself copies of proof of the information you are collecting. This includes bank statements, deeds to properties, credit card and other debt statements, life insurance policies, car titles, tax returns etc.
And remember...
While you may find helpful insights or bits of information in this blog as it progresses, keep in mind that this is only being provided as general information to help you and others get started in this process. My first and best advice is to consult a lawyer knowledgeable in the area of family law. This is the only way to truly obtain advice directly pertinent to your situation. I am available for consultation by calling (928) 458-5026 to schedule an appointment.
