Salt Lake City Property & Asset Division Attorney
Standing Up for Your Rights to Marital Property
When couples are unable to reach a property settlement during a divorce, the court must decide how to divide the marital property. In Utah, marital property is divided by equitable distribution. Equitable distribution means that the marital assets will be divided fairly between the parties, which is not necessarily a 50-50 division.
Many people find the rules governing equitable distribution confusing. Whether you are negotiating a property settlement or fighting for marital property in court, it is advisable to have an attorney represent you. Property division decisions are rarely reopened once the divorce is final. Stavros Law, P.C., provides knowledgeable divorce and property division representation in the Salt Lake City area. For a free consultation, please call 801-428-0719.
Marital and Nonmarital Assets
Property division in Utah is calculated on a number of factors, including:
- Length of the marriage
- Standard of living during the marriage
- Age, health, occupation and sources of income of each spouse
Nonmarital or separate property includes property one party brings to the marriage, as well as inheritances or gifts received outside of the marriage. We can discuss these types of assets if you have them.
Property and finances that are acquired during the marriage are generally considered marital assets. These may include:
- Personal property (such as vehicles, furnishings and electronics)
- Real property (primary residence and other property)
- Bank accounts
- Retirement accounts
- Stock options and portfolios
- Business income
- Insurance
Marital debts, which may include mortgages, loans, credit cards, judgments and taxes, must also be divided between the parties. A review of your marital finances will help us determine which debts are joint and which are separate.
Salt Lake City Property and Asset Division Lawyer
To schedule a free consultation, please call 801-428-0719 or contact us online.
Written by the Office of Stavros Law, P.C.
