{"id":473,"date":"2017-02-02T13:19:10","date_gmt":"2017-02-02T20:19:10","guid":{"rendered":"https:\/\/ogbornelaw.com\/?p=473"},"modified":"2023-07-24T20:54:25","modified_gmt":"2023-07-24T20:54:25","slug":"splitting-assets-collaborative-divorce","status":"publish","type":"post","link":"https:\/\/webtechs-designs.com\/2023Ogborne\/splitting-assets-collaborative-divorce\/","title":{"rendered":"Splitting Assets Inside Collaborative Divorce"},"content":{"rendered":"<p>You and your spouse have chosen to move your marriage toward divorce. Divorce might be the hard choice, but there&#8217;s now so much more to think about as you go through the proceedings. After all, your lives have been synonymous with each other\u2019s for years, decades, maybe.<\/p>\n<p>Sudden you&#8217;re talking about how to split time with children, assets, and debts.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_76 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/webtechs-designs.com\/2023Ogborne\/splitting-assets-collaborative-divorce\/#Consider_What_You_Have%E2%80%94and_Have_Not\" >Consider What You Have\u2014and Have Not<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/webtechs-designs.com\/2023Ogborne\/splitting-assets-collaborative-divorce\/#Splitting_Assets_Inside_Collaborative_Divorce\" >Splitting Assets Inside Collaborative Divorce<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Consider_What_You_Have%E2%80%94and_Have_Not\"><\/span>Consider What You Have\u2014and Have Not<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Arizona is a community property state, what\u2019s yours is theirs\u2014and vice versa. Their definition of property includes everything, and we mean everything. Bank accounts, retirement accounts, investments, homes, vehicles, and even your business. It&#8217;s all considered to belong to both of you in the result of a divorce.<\/p>\n<p>The good news is that assets you had before the marriage are likely to remain yours. If you started the business before you married, then it\u2019s yours. Any profit and revenue accrued during your marriage will be included in the divorce.<\/p>\n<p>Of course, what you owe together remains the responsibility of both of you. All mortgages, loans, and credit cards included. The only thing you get to keep that\u2019s only yours is your student loan. According to family law, you split even the debts you accrued on your own during the marriage.<\/p>\n<p>It&#8217;s important to keep in mind, even if your soon-to-be-ex doesn&#8217;t pay on a debt assigned to them, and your name is on it, then you\u2019re responsible. You\u2019d have to return to family court to get it sorted out.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Splitting_Assets_Inside_Collaborative_Divorce\"><\/span>Splitting Assets Inside Collaborative Divorce<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A collaborative divorce allows the couple to work together to reach an amicable division of assets and debts. The process is built to help divorcing couples resolve disputes with honesty and mutual respect.<\/p>\n<p>The collaborative divorce process allows for lots of support and provides a more open environment in which to share. The team involved in the process includes attorneys, mental health counselors, a child specialist, and a CDFA. (Certified Divorce Financial Analyst)<\/p>\n<p>The CDFA is not only either a CPA or a CFP, but they also understand all the financial intricacies involved in a divorce. Their goal is to create two financially stable co-parenting environments. This often leads to improved communication between the parents, even after the final process of the divorce.<\/p>\n<p>\u201cI was worried about how it would work when Jane and I got divorced,\u201d shared Tim, a 45-year-old business owner who recently separated from his wife of 15 years. The two have a nine-year-old son, Jacob. Tim continued, \u201cJane helped launch the business, and we worked in it together. Since we chose a collaborative divorce, we were more focused on Jacob\u2019s well being. And were more proactive in how our financial lives would work once we divorced. With the help of our team, we realized we could successfully be divorced co-parents and work in the business together. It made the entire process easier for our family and the business.&#8221;<\/p>\n<p>If you are going through a divorce and worried about how the split will affect your finances (and your children), consider collaborative divorce. Ogborne Law is committed to transforming divorce in Phoenix by helping families find collaborative divorce.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Splitting assets during divorce is challenging. The collaborative divorce process makes it easier. Working with Ogborne Law, we can help you through it.<\/p>\n","protected":false},"author":3,"featured_media":11603,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[32,30,31],"tags":[],"class_list":["post-473","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-collaborative-divorce","category-divorce","category-family-law","category-32","category-30","category-31","description-off"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Splitting Assets Inside Collaborative Divorce - Ogborne Law, PLC<\/title>\n<meta name=\"description\" content=\"Splitting assets during divorce is challenging. The collaborative divorce process makes it easier. 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