In any divorce there will be the complicated issue of property division to tackle. The situation can get even more complex when there are 401(k) assets and other retirement accounts involved. Each party’s assets will be valued and subsequently divided according to Arizona state laws. During negotiation your attorney can help you negotiate how to keep your money in your retirement account by perhaps providing another community property in exchange. However, tax liabilities will also be examined.
Because this process is usually the most difficult aspect of a high net worth divorce, it is essential that you have a law firm that possesses exceptional legal acumen to finalize the settlement. Often, property division and the question of money can make a divorce quite messy and even more unpleasant than it has to be. While it is best to avoid litigation and keep it out of court, sometimes that is impossible. Whichever road your divorce takes, Cantor Law Group is here to help you every step of the way.
Property division in the Phoenix area
No one should rush into the process of property division, especially when it comes to large amounts of money, 401(k) assets and other retirement accounts. Determining how to divide these assets and settle the situation is of the utmost importance. Should you make an exchange? What about cashing it out? All of the ramifications and tax consequences for both parties should be considered and put on the table.
Remember, equitable distribution doesn’t always mean equal. Consider how much money was accumulated in a 401(k) before the marriage – according to Arizona law, that money is not considered to be community property. Such valuations are complex and getting the matter resolved quickly and efficiently is essential to allowing everyone to move on with the next chapter in their life. We have the resources to help you reach the most favorable resolution to the property division throughout the divorce.
Getting the right legal counsel
Obtaining the best legal counsel for your divorce can make all the difference in your settlement. All of our attorneys possess exceptional high net worth divorce expertise and with over 70 years of combined experience, we are committed to pursuing your objectives diligently and proud of our long and successful history in high net worth litigation and negotiation. We are listed in the Bar Register of Pre-Eminent Lawyers® and are proud members of Arizona’s Finest Lawyers®. We have also been AV® Rated by Martindale-Hubbell®.