(801) 254-9450 The division of marital property is a central part of every divorce case. While some property and obligations are easy to put a dollar value on, others require the expertise of seasoned professionals. Rare jewelry or art must be appraised, as well as assets such as large-scale commercial real estate.
If you have questions about the appraisal of assets and liabilities in South Jordan, Carr | Woodall has the answers. Our dedicated property division attorneys could help you accurately establish the value of your marital property and work toward a fair outcome in your divorce.
In South Jordan, accurate appraisals of both assets and liabilities are a crucial part of a divorce case. While there is little dispute about the value of things such as money or commonly sold goods, the true worth of some property might be a contentious issue.
When it is unclear what a specific piece of property is worth, it may be necessary to rely on an appraiser. An appraiser is trained to evaluate specific types of assets to determine their value. Real estate relies on appraisers all the time, but so do industries such as rare art, jewelry, or antiques.
An appraisal is important because the entire division of assets hinges on having an accurate value. If an asset is misvalued, the result could be an unreasonable or unfair split, especially for the spouse who receives an overvalued asset. Your lawyer could use a variety of tools to ensure your fair treatment throughout your divorce. We could rely on the guidance and advice of those who have the experience and knowledge to determine what your property is truly worth.
In a South Jordan divorce, the court treats debts with the same level of scrutiny as assets. Just as property must be identified, valued, and classified, so too must each liability. As with assets, the court aims for an equitable distribution of marital debts. To do this fairly, it must first determine whether a liability is marital or separate.
Marital debts are generally those a couple incurred during the marriage, regardless of whose name appears on the account. This can include:
If the debt was taken on to benefit the household—such as financing a family vehicle or paying for home improvements—the court will likely treat it as a shared responsibility.
In complex cases, we may ask financial experts to trace liability origins, especially when personal and marital expenses are blended. Ultimately, the court will take into account your and your spouse’s ability to repay the debt and your overall financial position to ensure the division of liabilities is fair and sustainable.
If you have questions about the appraisal of assets and liabilities in South Jordan divorce cases, our firm is here to help. Carr | Woodall has extensive experience working with experts to ensure the proper evaluation of your property. We could handle every aspect of your divorce and provide you with the support you need during this challenging time. Call today for a private consultation.