Handling Property Division Cases with Care
A divorce is like severing a contract. Assets and debts must be divided; alimony and child support, if applicable, must be awarded; and child custody must be determined.
Utah divides assets and liabilities equitably – and this does not necessarily mean equally. To protect your interests during a divorce, choose an experienced property division attorney in Salt Lake County. South Jordan-based Eric M. Swinyard & Associates, PLLC is dedicated to helping clients navigate the process of dividing debts and assets.
Contact our office today to schedule your confidential consultation. Call (801) 948-8889.
How Is Property Divided in a Divorce in Utah?
Couples have two types of assets and liabilities: non-marital and marital. Non-marital assets and liabilities are those that a spouse owned before the marriage. Gifted and inherited assets, even if gifted or inherited during the marriage, are also non-marital property.
All other assets and debts are marital and are subject to equitable distribution. Furthermore, commingled assets that belonged to one spouse before the marriage are usually considered marital assets.
For example, if the husband had a bank account with $25,000 in it, added his wife’s name to the account, and then used the account to pay marital debts, the account becomes a marital asset that is divided equitably. In many cases, simply adding a spouse’s name to an account makes it a marital asset subject to equitable distribution. Several factors determine what percentage of each asset is awarded to each spouse.