Division of Property In Utah Divorces

Utah divorces follow specific state law guidelines during the division of property. You should be well-versed with the local Utah divorce laws on the division of property. You must be aware of your rights. You must not succumb to any deception.

There should be an equal distribution of assets and debts. A skilled family law attorney can ensure this. They can help you to protect your rights. Knowing your rights can make your legal proceedings easier. A knowledgeable divorce attorney can tell you about the possible outcomes. What can be the different scenarios in the division of property during divorce? What method should you choose for your situation? An expert family lawyer will answer all these questions. An experienced Sandy divorce lawyer can help you with all your problems during your case.

Here are some guidelines for Utah divorces –

Follows the principle of equitable distribution –

Utah follows the equal distribution of property during a divorce. The marital asset is divided equally between the spouses. The fair means will be based on how long the marriage is sustained, the financial conditions of the partners, and their contribution to the finances.

Assessment of assets –

Your assets acquired during the marriage will be assessed. During the division of the property, the assets will go through valuation. This is to check the worth of each asset accurately. This can include your personal belongings, vehicles, retirement money, if any, etc.

Debts will also be divided. –

During the marriage, if the partners have taken any bank loans or debts of any sort, they will also be divided. If a partner has mortgaged a property, that will also be divided fairly. Any liabilities are subject to division during a divorce in Utah.

Prenup and post-agreements –

You can protect your assets during divorce. Have a prenuptial and postnuptial agreement with your spouse. You can consult an attorney on this matter. They will guide and ensure that the strategies for saving assets are enforceable. They must comply with the Utah divorce laws.

Difference in marital and separate assets –

If you have inherited property before marriage or have any acquired properties, they will come under separate assets. Marital assets typically include the property that you have acquired while being in a marriage. No matter whose name it is on the property, it will still be divided fairly. Unless you have any prenup signed beforehand.

Outside court settlement –

You can have agreements on settlements outside the court. Both partners can mutually decide on the division of assets. This can be done through mediation. If they come to a mutual decision, they can submit their agreement in court. This can save you from court intervention. If you do not come to a mutual decision, the court will decide on your part. It will be based on Utah laws of equitable distribution.