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Divorce and Remarriage

Seniors own the bulk of the state’s wealth in savings, home equity and other property. At this point in your life, you may have more at stake when you change your marital status. Or, you may be a widow living on Social Security income alone. If you choose to remarry, be aware of your decision’s potential impact on your finances.

Arizona law provides for the equitable division of community property upon divorce.  For the average American this entails dividing real property, personal property, vehicles, financial accounts, and maybe a retirement account or pension.  In addition to these common assets, many high net worth individuals accumulate assets of a more complex nature such as a business or some form of non-qualified deferred compensation. If you are a high net worth individual, this article will help you understand some of the considerations and strategies that go into dividing these less common, but highly valuable assets.