Understanding Asset Division In A Divorce

If you are going through a divorce, you need to understand what assets the court can divide and how they determine the division. We created this page so people in the Salt Lake City metropolitan area and throughout Utah could answer the question, "How are assets split in a divorce?"

The division of assets in a Utah divorce must be "equitable," which does not necessarily mean equal. The judges in these cases have the freedom to decide the final outcome of the asset split, and premarital agreements (prenups) can make the process even more complex.

Marital And Nonmarital Property

The first step in divorce asset division is determining what assets are nonmarital property and marital property. Nonmarital property includes property owned before marriage or certain gifts and inheritance received during the marriage. Nonmarital assets generally stay with the original owner, but this is not always guaranteed.

Marital property includes assets purchased during the marriage that can be split in the divorce process. Several factors, including the length of the marriage and premarriage economic status will affect who receives what property.

Marital property can include:

  • Vehicles
  • Business holdings
  • Jewelry
  • Furniture
  • Tools
  • Real property, such as homes and condominiums
  • Retirement and pension plans
  • Other personal belongings
  • Marital debts

Utah courts generally like to split similar assets, such as two cars, so that one will go to each party. Parents with custody are also much more likely to receive the home.

How Can An Attorney Help Me?

Divorce asset division is a highly contentious and emotional process for people on both sides of a case. An attorney can act as emotional buffer who helps clients determine their goals and prevents direct conflicts between spouses. If a divorcing couple cannot come to a property division agreement, the case will go before a judge and both parties will have less control over the process.

Review Your Divorce And Assets With A Capable Lawyer

At Lokken & Associates, we understand that working with an estranged spouse is difficult, and many people feel overwhelmed by the back and forth. We will manage the stress of your case and act as a buffer for your entire divorce. Our lawyers take a holistic approach to divorce cases and can manage every detail, from a child custody battle to an alimony claim.

To schedule your free consultation at our law firm call 801-924-9211 or send us a message. Hablamos Español. Falamos Português.