There are many considerations on the table when a couple decides that parting ways is the only solution to a difficult situation. Apart from the more pressing issues facing Arizona couples who make the decision to divorce -- such as child custody, child support and spousal support -- are the division of assets. Included in those assets might be rewards racked up by using points cards. What should become of them?
Professional people take pride in the work they do. When something happens that impacts life circumstances, it could affect job performance, but there are some things Arizona residents who are going through such things -- like a divorce -- can do to minimize its effects. The divorce process can take up a lot of time, so it is vital those going through it have a handle on the tasks they need to complete.
These days, there are many rewards systems in place that allow consumers to rack up points or dollars when they buy particular items -- like an air miles card, for instance. When an Arizona couple decides to divorce, one of the issues on the table might be what to do with those points and/or rewards. In a nutshell, these kinds of things are handled like other marital assets and are up for division -- if they were amassed during the course of the marriage.
Many Arizona married couples share all things equally regarding their finances. They have jointly owned bank accounts and are transparent regarding spending habits, savings and other financial issues. Other spouses, however, leave financial tasks to one or the other spouse. Either way, if a divorce occurs, both spouses must be aware of all assets and liabilities that will affect settlement.
A joint account or separate accounts? When it comes to money, assets and divorce, this can be an important question. Arizona is a community property state, so, for the most part, assets acquired during the marriage are considered to belong equally to both spouses.
To some Arizona residents, the family home is a priceless asset. No amount of money can take the place of the memories and dreams that are attributed to this sacred place. Yet, when it comes to divorce, this priceless item really does need to have a price put on it.
Finances are often a primary decision in each stage of the marital relationship. This can certainly be true when a Arizona couple decides that it is time to end the marital relationship. Financial aspects and property division are often an important part of the divorce process.
The writing is on the wall and it is only a matter of time before action must be taken. Once things get to this point, the Arizona spouse needs to begin prioritizing things and take stock of the current financial situation. Of course, it would be prudent if such action had already occurred; however, this is not always the case when a divorce is looming.
The process of ending a marriage is difficult, emotionally challenging and complicated for every member of an Arizona family. Divorce is rarely easy, but there are some simple ways to make this process a little easier. In turn, this can lead to a more reasonable divorce settlement and an easier transition into post-divorce life, especially for parents who will have to share custody of children going forward.
The trend with millennials has been to stay married once they do decide to marry. Divorce rates climbed in the country during the 1970s and 80s, and peaked in the mid-70s with 5.3 divorces for every 1,000 Americans. That number has dropped significantly, and it was it was 2.9 for every 1,000 Americans in 2017. That decline, some experts suggest, has to do with more millennials staying married and Arizona residents are among them.