One of the good things about practicing family law is that it does not get boring as there are so many different issues that can come up. Recently, my cases have seen an uptick in interesting financial issues and I’ve been working with clients on how those issues not only impact division of assets at divorce, but also how they impact of the calculation of family support- both spousal maintenance and child support.
My first blog this month will be on a change coming to A.R.S. § 25-319 - Arizona’s spousal maintenance statute. It is a very important change because it expands the threshold requirements to qualify for spousal maintenance - a big shift considering that spousal maintenance had seemed to fall out of favor with the Court more recently.
In light of this, it seems more important than ever to look at the other financial situations that can impact spousal maintenance and child support awards. While the scenarios I will address this month may not be exactly common, they happen more often than one would think. For instance, the blogs will examine stock options as a form of compensation and how they are divided as an asset- - and how it may also be calculated as part of a self-employed party’s income (hint: your income may not just be what is claimed on a tax return for support purposes).
As one can imagine, these topics can be quite complex and are very case specific and fact-dependent. Therefore, the blogs this month just scratch the surface and are intended to give you a heads-up when dealing with these issues. If you, a friend or a loved one are thinking about getting a divorce, and any of these scenarios apply to you, I strongly encourage you to give one of the experienced attorneys at Owens & Perkins a call. If you would like to schedule a free 30 minute initial consultation, please call the office at (480) 630-2464.