(801) 254-9450 Distributing marital assets is a core part of the divorce process. When married couples end their relationship, it is up to the courts to decide how their shared property should be divided moving forward. This process can be complicated, and it is not unusual for disputes to arise.
Fortunately, the common issues during asset division in South Jordan do not have to derail the next phase of your life. With the support of a compassionate property division attorney at Carr | Woodall, you could resolve these issues and work toward a fair outcome.
In Utah, the division of assets during divorce follows the principle of equitable distribution. This does not mean that property is always split evenly between the spouses. Instead, it is divided in a manner the court deems fair based on your personal circumstances. The judge will consider multiple factors when determining how to divide marital assets, including:
A critical first step in equitable distribution is identifying which assets are considered marital property and which are separate property. Marital property includes assets acquired during the marriage, while separate property typically includes assets owned before marriage or received through inheritance or gift. However, if separate property is commingled, the court may have the power to divide it between the parties.
In some cases, the court may also consider whether one spouse’s actions increased the value of the other’s separate property. For example, if one spouse helped grow a business that the other brought into the marriage, that growth may be factored into the asset division.
Ultimately, Utah courts aim to reach a result that is just and reasonable, regardless of whether one spouse gets more than the other. A South Jordan attorney could answer any questions you have about asset division and the issues that commonly arise during this process.
There are a number of common issues that can arise during asset distribution in a South Jordan divorce. Some examples include the following.
Most people are primarily concerned with the division of marital assets during their divorce, but it is important to remember that there are often shared debts as well. How these debts are split up can lead to conflict, especially if one party was responsible for accumulating them.
Determining the value of some property is fairly straightforward, such as residential real estate or common motor vehicles. That is not always the case for rare assets, such as fine art, jewelry, or commercial real estate. Given the low number of transactions involving these items, it is normal for there to be some disagreement on the market price.
While it is true that assets are generally either owned individually or shared by the couple, it is also common for partners to blend their assets over time. When property is commingled, it can be difficult to determine the source or the person who originally owned it.
While some of the issues that can arise during this process occur naturally after years of marriage, others are intentional. In contentious divorces, one spouse may attempt to hide assets from the other in an effort to secure an unfair split of the property.
If you are facing the end of your marriage, seeking support from legal counsel helps ensure you are treated fairly throughout the process. At Carr | Woodall, we are here to guide you through the common issues during asset division in South Jordan divorce cases. Contact us today to discuss your options.