October 8, 2010

Dividing Assets in a Divorce | Asset Division Attorney

Asset Division Attorney

The process of getting divorced in Utah can be a very difficult and trying event in your life. Not only are there social consequences that make it difficult, often most of the things you once relied upon in your life based in your family seem to disappear. Dividing assets gained while in the marriage can be very difficult to agree upon as both sides often feel that their version of the asset division should be the one used. In Utah the law works with an “equitable distribution” system. This means that the two divorcing sides first have the option to settle their divorce through a signed Marital Settlement Agreement. These agreements can be done solely between the parties but often have a mediator and representative council for both sides present to help the negotiating process. If this negotiation process can not provide a solution, then the court creates  and order within the Decree of Divorce.

The Court Division Process

The Utah Divorce Court takes the following approach to dividing assets. First, there is a discovery process to ensure the court is notified of all the assets. Next the court assigns a monetary value based on the property and worth to the parties to each asset and divides them in an equitable fashion. Equitable does not mean the court will divide everything 50-50 based on the assigned monetary values, but instead will divide by what is “fair” to both parties based upon their individual circumstances. The court division process is often very subjective and there is no specific standard for the judge to follow except what can be considered “fair.” During this process it is imperative that you have someone on your side to protect your rights and ensure that the court makes a “fair” decision.

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If you or your spouse have decided to begin divorce proceedings do not go without representation. The qualified Utah Divorce Attorneys at Utah Divorce Hotline represent many people going through this difficult time just like you. We can ensure your rights are not neglected by the court and that equitable division through the court system will be fair. Contact us for a free consultation so we can begin to help you through your divorce.