The divorce process in Utah is not equal but equitable. Equal and equitable are not synonymous. Utah Law requires that the assets be divided on an equitable assets. What does equitable mean? It means that when a couple files for divorce, the martial and liquid assets are divided in a fair way and not equally. This includes the award of child support as well as alimony. The court has no obligation of giving equal amount to either of the spouses. That’s why the process is a bit complicated. Each spouse has to present his or her case effectively in order to get the assets they deserve. When it comes to division of assets, you have two options. Either you and your spouse reach a settlement or you let the court decide on the subject matter.
What if The Couple Decides To Divide the Assets?
The couple has to split the assets with mutual consent. Then they are needed to sign an agreement. The agreement is presented before a judge who reads it as well as supports it. The judge will ensure that the division is fair. After that he or she approves it.
What If A Judge Decides To Divide the Assets?
This gets complicated. In the first place you are consulting with a judge because you have already failed to reach a settlement on your own. So, it is obvious that you are in a phase of conflict of opinions. Secondly, the court has to look at several factors before making a decision. Let’s look at some of the factors the court makes sure to look at:
- They demand details of occupations of both spouses. You have to provide them.
- They will ask you to provide details of the age and health of both spouses.
- You will be needed to provide details of your income.
- The court will ask you to give details of the length of your marriage.
- Any other details the court demands, you are bound to provide it.
Moreover when it comes to assets, there are different types of them.
Land, houses and other commercial or residential buildings are included in real property. Cars, furniture, jewelry are included in personal property. Then there is non-marital property. This includes gifts and other property that comes by inheritance owned before marriage. It is not considered a part of marital property. The person who owns it gets it by the court.
If your marriage is not a long one, the court may return you to pre-marriage economic situation. But in case of long marriages, the court makes sure that both parties maintain their economic status. That’s why the division of assets and property is different.
What can go possibly go wrong in a divorce settlement? The other spouse may wrongfully claim an asset that doesn’t belong to him or her. The other party may underestimate the value of an asset that he or she is getting in the settlement and overestimates the assets you have. That’s why you are in need of an expert attorney who can help you out. Jill Coil is the best Sandy and Salt Lake City divorce attorney.