What is community property in Arizona?
Community property is any asset or debt either spouse acquired during the marriage. It includes houses, businesses, retirement accounts, stocks, bank accounts, credit card debts, student loans, HELOC’s, intellectual property, etc. The exceptions to community property are any property acquired as an inheritance or as a gift. If a prenup or postnup was signed, the spouses may have opted out of the community property laws altogether. Additionally, certain federal law may prevent state courts from dividing certain assets, such as a military disability pension or Social Security benefits.