Property Division in Utah County
In Utah any property or assets acquired during marriage are considered marital assets except for some exceptions. These exceptions are called non-marital property and are items that are obtained by inheritance or gift. Property that was acquired prior to marriage is also considered non-marital property. Everything else that is considered marital property or part of the marital estate is considered the property of both spouses equally so when the couple decides to terminate the marriage and get a divorce this property is dealt with and divided in the divorce process.
The Standard for Dividing Property
In most divorce cases the parties end up reaching a settlement either through mediation or by themselves but in the cases they don’t reach an agreement the judge or commissioner will decide how the property is to be divided. When the court makes the decision about property division they usually base it on what they call a fair and equitable division of assets. What fair and equitable means is usually different depending on the case but a rough baseline or standard to go off of is a 50/50 division of assets. This is an important thing to consider when trying to negotiate a settlement because you shouldn’t deviate too far from the 50/50 baseline that you could likely achieve if you went to court.
Utah County Divorce Lawyer | Helping Resolve Your Property Division Problems
If you are going through a divorce and are worried about losing all of your property then its a good idea to call an attorney to find out what your options are. At Divorce Lawyer Provo we can help you understand the divorce process and answer your questions in a free consultation. Getting a divorce is a very stressful and difficult process so why not have a counselor to help you navigate the unfamiliar system and help you make level headed decisions.