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Financial Planning
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You just spent 9 of the worst months of your life, but it’s almost over. You had no idea divorce could be so painful. Your spouse, your partner, is now your worst enemy.
A typical case involves financial services from the initiation of the case after the initial filings. The attorney and financial planner meet with the client to discuss the legal and financial strategy.
The courts have been imputing earned income to an unemployed or underemployed person for years, regardless of whether that spouse is the supporting or the supported spouse and in the context of both spousal and child support. By the same token, a party is not expected nor permitted to underutilize financial capital.
Lifestyle analysis is primarily used to establish the historical pre-divorce standard of living for determining spousal support.
The decision to get a divorce is never easy. In the current recession, the decision is even harder to make as spouses look at their debts and wonder how they can make it financially without their partner, even if the marriage has become intolerable. As the mortgage payments, credit cards and other bills begin to mount, it is important for people to remember that they have options and staying in a broken marriage does not have to be one of them.
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Arizona has residency requirements which state that one of the spouses must live in the state at least 90 days before filing for a dissolution, which must be done in the county in which the petitioner resides. After service of process, there is also a 60-day waiting period.
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