Tucson Family Law Blog

Arizona spouses who decide to divorce may face an array of emotional, practical and financial complications during the property division process. This can be challenging for almost anyone, especially when sentimental items or high-value assets are involved. However, it can be even more difficult when a family business is part of the divorce.

Before entering into serious negotiations over handling the business in relation to the property division process, it can be important to understand how much the company and its assets are worth. An independent expert can review financial statements and other documents to establish a valuation for the family business. Spouses involved with the company may tend to overestimate or underestimate the market value of the company, but an independent expert can set a baseline for negotiations.

Cost is one of the most important factors that couples in Arizona and throughout the country consider when determining whether to file for divorce. Divorce can be expensive: up to $15,000 per person in the United States. There are a number of factors that will determine if the divorce is more or less expensive.

For example, if a divorce is mutually agreed on, there will be fewer unresolved factors. Things like maintenance of property, child care, child custody, assets and pensions, and financial support may have been discussed. The more issues that are resolved on both sides, the less expensive the divorce will be.

Divorcing later in life is becoming more and more common in Arizona and all over the United States. Often referred to as gray divorce, the phenomenon has created new challenges for people over the age of 50. In the 1990s, 10 percent of people over 50 years of age were divorced. The number has since increased to 25 percent. The experience of gray divorce is financially stressful and can lead to a number of psychological side effects.

Among the most important challenges for people going through gray divorce are splitting retirement and Social Security benefits. When couples divorce after the age of qualification for Social Security, their history will be examined to determine how benefits will be divided. Typically, spouses cannot reach funds earned prior to the marriage.

Divorce is often associated with visions of courtroom battles and drawn-out financial disputes. However, Arizona spouses who wish to end their marriages don't have to go that route. It's possible to work collaboratively with lawyers to negotiate a divorce settlement that is acceptable to all parties and allows both spouses to walk away successfully from the marriage. This can be a particularly viable choice for divorcing couples with children as many parents want to protect their kids from the aftereffects of a contentious, high-conflict divorce.

By working together with a family law attorney and the other spouse, one could move from a strictly adversarial view of divorce to a more collaborative approach. Of course, this process can be challenging; divorce is not only a legal and financial decision but also a deeply emotional one. In addition, the decision to end the marriage often followed deeply hurtful events, from severe arguments to infidelity. While people who are divorcing may want to move on from the marriage as quickly as possible, they could benefit from reviewing their history. In particular, the history of the fights and arguments between the couple could be instructive. This may point to particularly sensitive areas of conflict and likely points of discord during the negotiations.