How Does Utah Law Handle Property Disputes in Divorce?

What Are Marital Property Laws in Utah?

Couples acquire rights to the property and assets they get during marriage and the debts they incur individually or jointly. However, a spouse doesn’t have the right to what is considered separate property, which belongs to the other spouse. South Jordan family law attorneys say that separate property includes:

• Any assets a spouse acquired before marriage
• Gifts
• Inheritance
• Property expressly excluded in valid prenuptial agreements
• Property gained after separating or an award by judgment from one party to another
• Income from a non-marital asset
• Debts obtained before marriage

During marriage annulment, marital assets are subject to division, and conflicts often arise on how to divide the assets. If you’re going through a divorce and have property disputes, property division lawyers in South Jordan say that the court will use property division laws in Utah to determine the outcome.

Is Utah an Equitable Distribution or Community Property State?

States divide property through equitable distribution or community property legal frameworks. Utah is a common law state, which implies equitable distribution. Equitable distribution doesn’t necessarily mean that each spouse will get half of the assets, but the court will evaluate various factors to determine who gets what.

For marriages that lasted longer, South Jordan property division lawyers highlight that courts may order a 50-50 split to each party. For marriages that lasted a shorter period, the court generally strives to put the spouses back to their positions before the marriage and give them back what they earned during the marriage.

What Property Is Subject to Property Division During Divorce?

When dividing property, it’s essential to remember that only property obtained during marriage is subject to distribution. You can’t claim a share of your spouse’s separate property, but you can claim the following assets if they were acquired during the marriage:

• Life insurance policies
• Bank accounts, stocks, and bonds
• The marital home, vacation homes, and any real estate property such as investment and business properties
• Household items such as artwork, furniture, and jewelry
• Business assets and partnership interests
• Pensions, stock options, employment benefits, and retirement plans
• Vehicles, including aircraft and watercraft
• Lottery winnings
• Outstanding debts

These items are divided equitably regardless of who holds the title or policy. If there are other assets not listed here and you need clarification on whether they are marital or separate property, consult skilled property division attorneys in South Jordan for legal insights.

Property Valuation Before Division

Equitable property division is not possible without property valuation, especially in cases involving sophisticated assets. Property valuation is the fair and impartial assessment of the assets’ value, which is conducted by professional real estate appraisers, tax advisors, real estate brokers, and financial planners.

The expert can accurately evaluate your real estate property, collectibles, and vehicles to determine their resale value. Your property division attorneys can oversee the process to ensure transparency and fairness.

What Factors Do Courts Consider in Property Division?

Ideally, you and your ex-spouse should amicably agree on splitting marital property, but a judge will determine if the split is fair and reasonable. If you can’t agree, the court will issue an order for a fair division in the final judgment within the divorce decree. Factors courts consider when deciding how to distribute property include the following:

• The financial situation of each party
• The length of the marriage
• The party with custody of the children
• The ability of each party to earn an income and their future financial prospects
• The contributions of each party to the marriage, including child-rearing and homemaking
• The value of the marital property
• Any agreements between the two parties, such as pre- or post-nuptial contracts

Dividing Marital Debt

Marital debt is considered marital property and will be divided fairly between the divorcing spouses. If the judge deems this fair, you could receive a higher portion of the debt than your ex-spouse or vice-versa. Such a situation may arise if only one of you contributed to most of your marital debt or if you have more assets or earning potential to offset the debt.

What is the Role of Mediation in Property Division Disputes in Utah?

Utah recognizes mediation as a crucial part of the process in property division disputes. South Jordan property division attorneys say that there is mandatory mediation in every property division case to help resolve disputes. Before the court allows you to go for trial or set a date, you must go for mediation.

If mediation fails, your lawyers can guide you through a collaborative family law process. This process entails both spouses having a collaborative lawyer to represent them, with the intention of motivating the parties to settle their case collaboratively without going to court. If the collaborative family law process doesn’t work, litigation follows, whether the court decides the outcome.

Navigating Property Division Disputes with the Help of a Skilled Family Law Attorney

Property division during divorce can be contentious and can create discord. Assets and debts must be divided, provided they were acquired during the union. Separate property is exempt from division, but some spouses may claim a share, which is why Utah’s property division laws kick in to help settle the matter.

Seek the guidance of an experienced family law lawyer in South Jordan to help you understand what to expect during a divorce. They can explain various statutes and help you prepare for mediation or trial for the most favorable outcome. Skilled property division experts with experience in the field can answer all your questions and quell your fears. Call the legal team at the RGC Law Group at 385-503-3663
to schedule a case assessment.