Divorce attorneys may know family law, but they typically know little about tax law - especially when it comes to annuities. 4th 481. Community property Arizona law requires the full. The most common issue concerning stock options in California divorces arises when they were granted during the marriage but vest after the date of separation. Arizona, and Texas. You can get a portion of your spouse s stock options during a divorce proceeding. e. Free 30 Minute Initial Consults. This includes credit card debt, mortgage debt, student loan debt, and any other debts that were incurred during the marriage. A court may exclude from division options that are unvested at the time. Separate property is owned by only one of the spouses, and thus is not subject to division during a divorce. To schedule an appointment about your case with a member of our dedicated legal team, call Coker, Robb & Cannon, Family Lawyers at (940) 293. Our family law firm has earned numerous awards such as US News and World Reports Best Arizona Family Law Firm, US News and World Report Best Divorce Attorneys, “Best of the Valley” by Arizona Foothills readers, and “Best Arizona Divorce Law Firms” by North Scottsdale Magazine. 272 (1977), the Arizona Supreme Court considered whether a military pension is a property right or an expectation for divorce purposes if the military spouse has not – at the time of the divorce – completed the. (By Appointment Only) 4531 North 16th Street, Suite 126 Phoenix, AZ 85016 Phone: 602-252-1968 Phoenix Law Office MapA stock option gives an individual the right, but not the obligation to buy or sell a stock at an agreed upon price for a fixed period of time. A quarter of those vest every year for the next four years. The Arizona Supreme Court noted two methods of determining that interest. Equitable distribution is the more common system of property division, used in 41 of the 50 states. One of the thorniest issues in divorce is the division of property. Our family law firm has earned numerous awards such as US News and World Reports Best Arizona Family Law Firm, US News and World Report Best Divorce Attorneys, “Best of the Valley” by Arizona Foothills readers, and “Best Arizona Divorce Law Firms” by North Scottsdale Magazine. Stock options and restricted stock units (RSUs) are time-delayed financial assets, which makes it difficult to divide them in a divorce. It is crucial to talk to an experienced Arizona family. Learn About Military Retirement Pay, the USFSPA, and Divorce in Arizona from Our Arizona Divorce Attorneys at Hildebrand Law, PC. Arizona residents going through a divorce and who have been carrying student loan debt may be wondering if their soon-to-be former spouses may be responsible for helping them to pay those loans since the division of property. e. If you have a question about divorce in Arizona, please call to speak to one of our experienced Arizona divorce attorneys at (480)305-8300. The disclaimer deed is a legal document that has legal consequences. One of the most important aspects of many divorce cases concerns what. Although the vast majority of Arizona divorces will not involve Silicon Valley stock options, there are many local startups that may have offered stock options as an employment. Once you have ensured that the QDRO meets the requirements of the 401 (k) plan. Bio and Articles. The process can be technical and tricky. This article addresses how courts divide assets between a couple during their divorce case. Certified Legal Specialist - AV Top Rated Law Firm. Typically, an Arizona court will divide the equity value of the house equally between the spouses. Equitable Distribution. The first is the “present cash value method”. After the final divorce trial, the court awarded the house to the husband subject to the husband paying the wife 50% of the equity in the home, if any. Our family law firm has earned numerous awards such as US News and World Reports Best Arizona Family Law Firm, US News and World Report Best Divorce Attorneys, “Best of the Valley” by Arizona Foothills. A. In the case of Foster vs. According to Avani Ramnani, one of the top divorce financial. This means that any properties and other assets acquired during the marriage are split 50/50 during the divorce. Please consult the laws of your individual state before taking steps to divide marital assets. Learn About the Valuation and Distribution Options For a Pension in an Arizona Divorce from the Experienced Attorneys at Hildebrand Law, PC. (See Becchelli v. Absent objection, the court incorporates their separation agreement. 1095 W. A spouse has. The law also states that equitable usually means equal—but a judge who believes that a precisely equal division would be unfair can divide the property in a different proportion after considering the following factors: length of the marriage. Jimenez had to address the issue, among others, of whether an Arizona divorce court has the legal authority to join a third party in a divorce case for the purpose of allowing a spouse to bring a fraudulent conveyance claim in an Arizona divorce to recover monies a wife alleged her husband had. The high-powered divorce law team at The Valley Law Group can help you understand all the options and legal tools available to you. 723. 171 and 3105. S. Stat. Every parent or spouse with a divorce or child custody dispute pending should know a little about the appeal process in Arizona law. Before diving deeper into how stock options are divided in a divorce case, an individual should have a basic understanding of how any type of property is distributed in a California marriage dissolution case. Call us at (602) 698-5520 to schedule an initial consultation. Also exempted are assets a spouse acquires by inheritance or gift during the. Arkansas law requires an equitable, or fair, division. With a traditional 401 (k) account, a judge would order these funds, which were accrued during marriage, to be split through what’s called a Qualified Domestic Relations Order. In the complaint, plaintiff must claim and eventually. Marital property is something a couple buys during their marriage. Option 1: The employee spouse can keep the RSUs and buy out the other spouse’s interest based on the current value. Dividing up property during a divorce settlement can be a difficult thing, even if the couple’s assets are straightforward. Equalization Payments. Paul L. Jimenez had to address the issue, among others, of whether an Arizona divorce court has the legal authority to join a third party in a divorce case for the purpose of allowing a spouse to bring a fraudulent conveyance claim in an Arizona. Remember, the divorce will have a. John Howell and Sandra Howell divorced in 1991. If you and your soon to be ex are involved in a dispute over the family dog, cat, horse or any. If you have questions about purchasing property with separate funds to be held jointly in an Arizona divorce case, you should seriously consider contacting the attorneys at Hildebrand Law, PC. Our Arizona community. However, a mere expectation to receive money is not divided in a divorce. Divorce court may take stocks as part of the marital assets to be divided among the spouses. North Carolina's Equitable Distribution Law requires every marital asset to be valued before it is divided, and determining the value of stock "options" has caused headaches for many Divorce Attorneys and Judge's alike. Our Arizona community property and family law attorneys have over 100 years of combined experience successfully representing clients in community property and family law cases. To execute the separation of the 401 (k) plan, a QDRO must be drafted that will tell the 401 (k) plan administrator how to divide the retirement asset. Meister addressed the analysis a judge should apply when choosing the valuation date of a business in an Arizona divorce. by gift or inheritance, or. For instance, your spouse’s company may release a disappointing quarterly earnings estimate, which may result in a steep drop in stock prices. , Suite 206 Tempe, Arizona 85281. There were two blocks of stock options in dispute (i. How Are Business Assets Divided In Divorce? Generally, marital business assets are to be divided equally in a divorce. The disclaimer deed in that divorce was signed on a home purchased during an Arizona marriage. changing the way owners hold title to the property. The trial court awarded them to the mate as his. The court awarded some of the guns to the husband as his sole and separate property but divided other firearms as community property. When dividing assets, the question of stock options may come up. Under this contract, the formerly married parties divide their property post-divorce. If the restricted stock carries with it only one of the characteristics of ownership (voting or dividends, but not both) Colorado law is unclear. Office: (480) 448-9800. , 4,000 and 1,800), both granted on November 7, 1990. If you are going through a divorce or legal separation in Arizona it is important for you to familiarize yourself with the laws that apply to the division of community property and how separate property is defined and treated in Arizona. In many ways, the best approach is to divide IRAs during a divorce. In many divorce cases, the couple’s credit scores get hit from a combination of things before and during a divorce. Vested vs. Before reviewing this process, it is vital to discuss the property division laws of Arizona divorces. This can sometimes mean 55/45 or 60/40 or 40/60—every case is unique. Email Us To have one of our experienced attorneys contact you, please fill out our confidential form below. each spouse's age and physical and emotional health. Judges will presume that any property acquired during the marriage is due to the spouses' joint efforts, unless one. Accordingly, that property must be. AWARD OF MARITAL PROPERTY. What if I change my mind after starting a divorce case? If you and your spouse decide to stay married, the divorce case can be canceled (or "dismissed") by fil-ing a request with the Clerk of Superior Court. If you have questions about dividing a business in an Arizona divorce case, you should seriously consider contacting the attorneys at Hildebrand Law, PC. Bell-Kilbourn made a decision regarding the effect of a Disclaimer Deed in a divorce in Arizona. As a result, the value of the stocks will not become fixed until a spouse decides to exercise his or her options and cash out or until the RSUs vest. The question sometimes arises as to what a court may do when separate property is used to buy community property in Arizona. 1095 W. By addressing the issue of IRAs as part of a divorce, it is possible to avoid surprise transfers to an ex-spouse after a death. An Illinois divorce court “shall divide the marital property without regard to marital misconduct in just proportions considering all relevant factors” 750 ILCS 5/503 (d) If a stock option is somehow premaritally earned, a gift, or an inheritance, then the stock option is NOT divisible in an Illinois. Call For Consultation (480)305-8300. Call LegalZoom See our FAQs. Jurek , 124 Ariz. The separate property of a spouse can be turned into community property in Arizona. At the end of a successful settlement, our clients pay only a fraction of their original loan balance. The first thing you should know is that Arizona is a community property state. The fundamental rule is that all property acquired by either spouse during the marriage (with narrow exceptions) is considered “marital property. Code §36-4-101 (2022). Choosing between term life and another policy type. Community property is required to be divided during the divorce process. Under. In the case of Leisure Lane it was determined the community contributed $39,741. As addressed through Brebaugh v Deane, 211 Ariz. 4th 640. To divide a business in a divorce, the court will look at relevant financial information such as contracts, invoices, certificates, balance sheets, profit and loss statements, and more. A marriage breakdown is emotionally draining, and it can be especially so when it comes to the financial picture. Koelsch, noted that property earned by either spouse’s employment is community property in Arizona. In Arizona, as a community property state, any 401(k) funds accumulated during the marriage are subject to equal division between spouses. Stock Options and Divorce in Arizona The Arizona Court of Appeals issued a decision regarding whether stock options that have not vested before the petition of dissolution is served. OPPORTUNITIES FOR CPAs. Any community property that is not mentioned in a divorce decree is transformed into property held as tenants in common. One such option is for you to take 50% of the money in all joint bank accounts and leave the other 50% for your spouse. The community property is liable for the premarital separate debts or other liabilities of a spouse, incurred after September 1, 1973, but only to the extent of the value of that. HOW STOCK OPTIONS ARE DIVIDED IN AN ARIZONA DIVORCE; HOW IS COMMUNITY PROPERTY DIVIDED IN ARIZONA;October 22, 2022 by Thomas. Stock options earned during the marriage are divisible in divorce. Get help navigating a divorce from beginning to end with advice on how to file, a guide to the forms you might need, and more. An increase in the value of that separate property during the marriage is also separate property. L. 8880. If you have questions about sharing a personal injury settlement in an Arizona divorce case, you should seriously consider contacting the attorneys at Hildebrand Law, PC. Proving Separate Property in an AZ Divorce | Hildebrand Law, PC. ARS § 25-318. Kingsberry divorced in 1963. After earning a law degree from the University of Arizona, he clerked for two years for a U. However, this can change if a spouse acquired. , the first party 50% and the second party 50%). Community property is also known as marital property. For instance, if 100 shares of stock are part of the marital property to be divided in half, one party gets 50 shares and the other party gets the remaining 50 shares. By analogy, if an account has 100 shares of ABC stock in it as of date of separation/divorce and the value of those shares is $10 a share, then the alternate payee can expect to receive 50 shares of ABC stock (which at. , Suite 206 Tempe, Arizona 85281. Going after your spouse’s stock options and RSUs during a divorce can be tricky, mainly because the value will change over time. Mr. Divorce; Name change; Real estate. Soon after the marriage, he bought the other half for $45,000. Family Law: Transferring Private Company Interest in Divorce—Going Beyond the Basics to Ensure Continued Success and Avoid Conflicts. This can be great if you’re facing foreclosure, repossession, or wage garnishment, but it’s not so good for your divorce case. That would make the Drahos calculation as follows: 70,000 + [ (70,000/100,000) x 200,000] = 210,000. As Arizona is one of nine community property states in the United States, anything earned (or debt incurred) during the marriage is community property and, thus, subject to “equitable” distribution in a divorce. Rio Salado Pkwy. What is a divorce? Divorce is a civil lawsuit to end a marriage. John Howell and Sandra Howell divorced in 1991. Arizona is a community property state upholding the division of marital assets and obligations between divorcing spouses. Mitchell v. the length of the couple's marriage. They can help work out the best co-parenting or custody arrangement for you. Nations Top 1%, Free Initial Consultations with a Lawyer. The Court of Appeals reviewed Arizona case law about how personal injury or disability recoveries should be treated in an Arizona divorce. 2010), the Arizona Court of Appeals discussed whether a divorce court can divide the equity in a marital home solely on the basis of each spouse’s contribution of separate property to its purchase. Muchesko, 191 Ariz. CIT Bank is a solid option if you’re looking for a high-interest savings account with no monthly fees. Learn whether an extramarital affair can affect spousal maintenance—or any other issue in an Arizona divorce. In most divorces, the court will equally divide the community property between the spouses . Ct. A good example is when there is a business. k. Only when all the steps of the divorce process are complete is the divorce final, though some aspects, like child custody, child support, and alimony, can sometimes be. Keep in mind, however, that the sale of the house will have associated costs. An equitable division of marital property is not always an equal division. Rio Salado Pkwy. how stock options are divided in an arizona divorce; how are retirement accounts divided in an arizona divorce; filing a lis pendens in a divorce in arizona; fair compensation defense in an arizona divorce; enforce a property settlement agreement in arizona; do rules regarding property apply to debts in arizona; division of debt in an. In such event, it is clear what party will receive the business. This would tend to suggest that Arizona is a 50/50 state in a divorce. Call us today at (480)305-8300 or complete our new client form to learn how much you or your spouse will receive from a pension in a divorce in Arizona. That doesn’t mean that the husband gets $210,000- it means that the wife. Usually, judges will assign each spouse a percentage of the total value of all the couple's marital property (sometimes called the marital or community estate), minus their debts. Q. March 21st, 2022. Call the Family Law Team at (480) 467-4348 to. Chapter 13 does not have the same limitations as Chapter 7 as Section 523 (a) (15) does not apply to a Chapter 13 bankruptcy filing. Under Arizona law, a parent can ask the court to modify child support obligations upon a showing of changed circumstances. If you are facing a contentious divorce, call Thomas Law Office at (602) 788-1395 to schedule a consultation to. 3 million prize during the divorce. Our family law firm has earned numerous awards such as US News and World Reports Best Arizona Family Law Firm, US News and World Report Best Divorce Attorneys, “Best of the Valley” by Arizona Foothills readers, and “Best Arizona Divorce Law Firms” by North Scottsdale Magazine. The employee can hold the non-employee’s share in a constructive trust. At Bishop, Del Vecchio & Beeks Law Office, P. Stock options typically vest over a specified period of time (usually 3-5 years) with a certain. (480) 833-8000. Receiving unvested stock from a company isn’t like getting a bonus paycheck. Stock Options and Divorce in Arizona. Property division in a divorce in Community Property Arizona can be complicated. There was a (somewhat) recent case in the Arizona Court of Appeals on this very issue that affirmed the court’s position. A Conclusion of Value can be presented in either a Detailed or Summary Report. HOW STOCK OPTIONS ARE DIVIDED IN AN ARIZONA DIVORCE; HOW IS COMMUNITY PROPERTY DIVIDED IN ARIZONA;If the stock options are vested, they are considered property and would then be divided as any other property item (i. In a divorce, this may mean that there are stock options that have not been “exercised”, meaning the employee has not purchased any shares. We offer a comfortable, positive atmosphere that can help you avoid the stress and frustration of divorce litigation. This straightforward method is commonly used for publicly traded companies. You need to get an attorney. Call For Consultation (480)305-8300. Ct. The Arizona Court of Appeals in a memorandum decision in the case of Jimenez vs. One role is that of a forensic accountant in locating all assets and liabilities for marital division. The mother, in that case, appealed a trial judge who did not divide the responsibility for a child’s uncovered medical expenses in proportion to the parties’ incomes. There are many options to keep as much of your 401 (k) as possible during a divorce. Let’s cover each of these concepts individually. They aren't…. In order to be eligible to divorce in Arizona, you or your spouse must have lived in the state for a minimum of 90 days prior to filing court forms to dissolve your. After you research well, you should contact a family law attorney Mesa and see what your options are. Community property covers buildings, land, money in all its varied forms (cash, investments, bank accounts, and so on) stock options, vehicles, jewelry,. She failed to disclose the $1. In the decree of dissolution, the trial court divided the parties’ community property. Unlike with a cash benefit, you don’t immediately enjoy full and unhindered rights over the. California is what is known as a community property state. They separated in 1990 and began discussing how to divide their property. In other words, after the value of stock options is ascertained by an expert witness, like a forensic accountant, the. To determine the relative marital value and non-marital values of stock options, Minnesota Courts have looked to the same methods that are used for valuing unvested pension interests. We're available Mon-Fri 5 a. Consider Capital Gains Taxes on the Sale of a House in an Arizona Divorce. 1. So, if one spouse gets the house with $20,000 of equity in it, the other spouse would. Rio Salado Pkwy. Military Retirement Pay may also be divided in an Arizona divorce. Call us today at (480)305-8300 or reach out. )How to file a divorce in Maine. Evans married in 1949. When you meet with us, we will determine whether you have strong grounds for reopening your divorce case and guide you through the process. The judge issued a property division order that did not address the lotto money. Arizonian family courts emphasize fairness when dividing up a property. If the couple cannot decide on a way to divide the debt, the couple will need to go to court, and the judge will determine how the property should be divided. Rio Salado Pkwy. Jared Spinelli, a divorce attorney and Partner at Rubin and. At Cohen Family Law, our practice is dedicated to helping families in Arizona find amicable solutions to these challenges. There are important tax ramifications for transferring these benefits that affect how an employer. Kingsberry and Mr. Bobrow, 241 Ariz. Community property is subject to a roughly 50/50 split in a divorce. Filing on. Going through a divorce requires the couple to make agreements on joint assets, like the marital home. If you and your spouse divorce, your 401 (k) could be divided up as part of the financial settlement. This will help you determine the best course of action for you. The employee spouse will also have additional FICA taxes on the amount of the difference. In an Arizona divorce, the marital home falls within the scope of community property when spouses acquired the home during the marriage. A stock option provides the employee an option to purchase company stock at a stated price, referred to as the “strike price,” at a given point in time. Section 25-215, “Liability of community property and separate property for the community and separate debts,” states in pertinent part:. How the 401 (k) is to be. For more information regarding the division of stock options in an Arizona d. The property remains separate but the community has a lien for the amount invested. Like many other states, Arizona will distribute property resulting from the marriage only if that property was acquired during the marriage. 1095 W. When a stock option is offered to an employee, it is called a grant. One of the more common concerns I encounter as a Divorce attorney in Arizona is with new or prospective divorce clients is a real fear that their soon-to-be ex-spouse will dispose of community assets before the court has a chance to divide the property. Ct. Under this method, the court determines the community interest in the pension and its present cash value. 2d 721, The husband’s stock options were marital property subject to distribution in divorce, although they were personal to him and could not be assigned or sold, where they were acquired during the marriage. If the stock is held for more than a year and sold at $35 a share, the employee will pay capital gains on the $15 of increase between the FMV on the date of exercise and the FMV on the date of sale. Because this procedure is complicated, it is essential to have the assistance of a capable divorce attorney. 2d 795 (Minn. “During the marriage” is defined as the period from the date of marriage to the date of service, or the date a spouse is served with a Petition for Dissolution of Marriage (a. What if I change my mind after starting a divorce case? If you and your spouse decide to stay married, the divorce case can be canceled (or "dismissed") by fil-ing a request with the Clerk of Superior Court. Here in New York, the portion of stocks earned as compensation during the marriage are considered marital. Becchelli, 109 Ariz. It’s strongly recommended to submit the draft QDRO to the 401 (k) plan administer for their review and approval. This means that the employee spouse who has been awarded the stock options by his or her company cannot transfer a portion of the options to the other spouse as a part of the divorce settlement. In some states, property acquired during the marriage is part of the “community" and is often split 50/50 in cases of divorce. Arizona law requires an equitable division of all community (marital) property upon divorce. 3d 1208 (Ariz. Whether your business is subject to property division depends on what kind of property it is. The division of community property, due to death or divorce, varies in. The Hug case viewed the options as a form of deferred compensation for past. Therefore, stock options earned during marriage are marital property subject to. App. Rio Salado Pkwy. A division of individual retirement accounts (IRAs) can be ordered in a divorce decree or a property settlement agreement that's been recognized by the court. 2d 208 (Ariz. Sfeir, where a support-paying husband’s stock options, originally worth about USD$90,000, depreciated drastically after the valuation date. Options for what happens to the house in a divorce: Dividing assets — one person gets the home, the other gets other assets. Our Gilbert law office offers an array of practice areas within family law including divorce. In the case of In Re Marriage of Inboden, 225 P. In some cases, it is clear that only one of the spouses can continue to operate the business. In the majority of cases, a fair division will be an equal (50/50) division. The Law Office of Karen S. In the case of Howell v. It’s not necessarily a 50-50 split, though. The first is the “present cash value method”. Dividing stock options in a divorce can be tricky to approach. Any stock options or restricted stock received after the date of separation is considered the separate property of the spouse that. If you have a question about divorce in Arizona, please call to speak to one of our experienced Scottsdale and Phoenix Arizona divorce attorneys at (480)305-8300. . If you have questions about debts not included in a divorce decree in. The Arizona Court of Appeals in the published case of Amadore v. If you need help dividing your retirement benefits because you are divorcing your spouse, call DeShon Laraye Pullen. The 1962 amendment to A. This could translate to instant earnings if the stock’s market price is much higher. Attorneys with you, every step of the way. When it comes to stock options and deferred compensation in divorce, attorneys typically have many questions. The trial court limited her obligation to the extent of the community property she received in the divorce. 7,300 of the stock options were granted after the complaint for divorce was filed. S. If a spouse is caught hiding assets, the court may require them to pay the spouse’s share of the assets to them. High asset divorce cases can become extremely contentious when it comes to the division of property because the stakes are higher. For example, if $10,000 in marital assets were hidden, the judge may order the spouse who hid the assets to pay $5,000 to the other spouse. In Colorado, unvested restricted stock awarded during the marriage that carries both associated dividend and voting rights will generally be considered marital property to be divided in the divorce. For instance, if the option is valued at $100,000,. This will allow you to work together to secure your short. S. During a divorce in Arizona, the equity is often relied upon as a bank account in the property settlement, and to start your new life. pricing is a means to determine the best value and avoid the peril of trying to sell an overpriced home. Spouse's dissipation of marital assets prior to divorce as factor in divorce court's determination of property division, 41 A. The Arizona Divorce Handbook, by attorney Scott David Stewart, has an entire chapter devoted to property division in non-military pension division. You are able to divide unvested stock units in a divorce pursuant to a case that’s called a Powell and Powell case, sort of a coverture fraction where you get 50% of stock that is vested and a smaller percentage of unvested stock. In this case, generally, whoever paid for the property or received it as a gift owns it. In every Arizona divorce, all marital property must be divided between spouses. This is because stocks are considered to be property, and property is subject to division in a divorce. To discuss your divorce or marital debt needs, contact our team. An option is exercised when the employee purchases the stock under the terms of the. Keep in mind that division of assets may be more complicated for certain types of companies, such as a service-based business. Therefore, the wife should be liable for half of the community debt omitted in the divorce decree. The most equitable thing to do is to. Courts in equitable distribution states will split all assets, earnings, personal property, and debts between the spouses in a division that is fair (in the eyes of the judge) but not necessarily equal. A judge, therefore, must make a division of. For the sake of general discussion, we have broken family law appeals into three broad areas: Divorce appeals; Child custody appeals; and. Czarnecki in 1973. This does not necessarily mean that the property will be divided equally, but rather that it will be divided in a way that is fair and equitable given the circumstances of the marriage and the parties involved. However, an Arizona judge may only consider those capital gains taxes if a sale of the. Decision. There are dozens of issues that need to be settled in a divorce, but dividing up finances is understandably a priority. Divorce court may take stocks as part of the marital assets to be divided among the spouses. L. After earning a law degree from the University of Arizona, he clerked for two years for a U. Choosing a Valuation Date for a Business in a Divorce in Arizona. Muchesko. Florida law requires an equitable, or fair, division of property between the spouses. Van Loan 569 P. , Suite 206 Tempe, Arizona 85281. If you have a question about divorce in Arizona, please call to speak to one of our experienced Arizona divorce attorneys at (480)305-8300. No. C. , Suite 206 Tempe, Arizona 85281. This capital gains exclusion can work against a single house owner who takes the house as part of the settlement, and then sells it later as a. There are nine community property states: Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin. Ct. Mesa, AZ 85202. Our Arizona community property and family law attorneys have over 100 years of combined experience successfully representing clients in community property and family law cases. HOW STOCK OPTIONS ARE DIVIDED IN AN ARIZONA DIVORCE; HOW IS COMMUNITY PROPERTY DIVIDED IN ARIZONA;Stock Option Challenges. , Suite 206 Tempe, Arizona 85281. The court also ordered the parcel of land to be sold with each party receiving 50% of the sale of the land. In community property states, each spouse is liable for 50% of debt incurred during marriage by either spouse. Key Takeaways. Part 1: The first step in your case should be to speak with a lawyer to get legal advice. In many cases, a set-off might be a possibility. App. To start your dissolution or divorce, you must complete a “Petition for Dissolution of Marriage” and file it with the court. With market traded stock options, the common way to divide them is for the divorcing employee to keep the stock options while giving the spouse other assets with the equivalent value.