Divorce and the equitable division of property
In the state of Utah, there is an equitable distribution of marital property when a couple divorces. In Salt Lake City, and the rest of the state, it is crucial for those who are preparing to file for a divorce to familiarize themselves with the law and the potential financial impact of divorce.
On the Utah Courts' site, a helpful overview of equitable division is provided. For starters, people in the state who are preparing for divorce should understand that while property is distributed fairly, courts do not always divide property equally. When determining how to fairly divide marital property, there are a variety of factors that the court will examine. For example, courts will assess the age of each party, their income level and professions and the duration of the marriage. For couples who were not married very long, each party may receive the property that belonged to them when they were first married. However, property is sometimes divided evenly between couples who were married for a longer period of time. Unusual situations aside, property division orders are final and people cannot have a case revisited.
According to information published on Brigham Young University's website, courts in Utah do not have a fixed formula when distributing marital property. However, courts have to draw a distinction between separate property (which is not divided) and marital property (which is subject to division). In addition to personal property, such as vehicles and furniture, pension plans and retirement benefits are also subject to division when a couple splits up.