Salt Lake City Marital Asset Division Attorney
Utah is an equitable division state. That is, marital property is to be divided “equitably,” or fairly, between the divorcing spouses. While typically the division of property and debt is a 50-50 split, this does not occur in all cases.
A Salt Lake City marital asset division attorney specializes in the determination and valuation of marital property. This is the first step in keeping you as close to your marital standard-of-living as possible.
Marital Property vs. Separate Property
Our Salt Lake City marital asset division lawyer will thoroughly explain marital property which includes:
- debts, and
acquired during the marriage. Other forms of marital property are increases in value of pre-marital retirement benefits, businesses, and military pensions.
On the other hand, separate property is
- debts, and
held by each spouse prior to marriage. Also, included in separate property is any inheritance or gift specifically granted to one spouse during the marriage.
However, an inheritance or gift can become marital property. A Salt Lake City marital asset division attorney will thoroughly investigate and evaluate such “comingled” property.
Property division can be a complex and contentious matter during a divorce. Two of the court’s prominent considerations in property division are
- length of the marriage and
- efforts of either spouse that contributed to enhanced earning capability of the other spouse.
A Salt Lake City marital asset division Attorney is knowledgeable in all aspects of marital asset division and will fully explain your position as it pertains to such.
Complexities of Asset Division and Debts
Reaching a property division settlement can be challenging because one must first separate personal assets from marital assets and then assign a fair value to the marital assets, including debt, to be distributed. Our Salt Lake City marital asset division lawyer diligently protects your best interests in the division of marital assets.
Protect Your Future
Contact our marital asset division attorney in Salt Lake City UT to arrange a consultation. We are expert in protecting your individual interests and your financial future. Marital asset division lawyers in Salt Lake City UT will aggressively pursue an equitable distribution of marital assets for you.