Fair and equitable distribution of all marital assets and debts occurs when a couple divorces in the state of Utah. In equitable distribution states, each partner’s contribution to the assets and debts, as well as the future needs of each party, is considered before the property is divided. Whether one party has made significant financial contributions to the marriage, or one partner has recently inherited a large sum of money, the courts determine what fair distribution is when the marriage is being dissolved. Debts are also divided fairly. If one party entered the marriage with a large amount of debt, that same person is likely to be responsible for that debt if it is still exists at the end of the marriage. The Utah courts have considerable leeway when dividing marital property, and it’s critical to have a qualified family law attorney on your side. If you are in the midst of a divorce, it’s time to fill out our contact form to see what we can do for you. We offer a no obligation case review, and we understand the emotional complexities that come with filing for divorce. We are here for you and we will protect your rights as you go through the difficult process of divorce.
A qualified family attorney can help you divide assets and debts during your divorce. Assets to consider include:
- Retirement funds such as 401(k)s, pensions and IRA accounts
- Physical property such as land, houses, furniture and art
- Life insurance policies that have been funded over the years
- Investments in stocks, bonds and other financial portfolios
Debts are also equitably divided during a divorce. Debt can include:
- Mortgages held on properties
- Car loans
- Student loans
- Medical bills
- Credit card balances
All debt is looked at individually, and who incurred the debt will determine who is responsible for paying back the debt in the end. If your spouse entered the marriage with considerable student loans, you shouldn’t be expected to pay back those loans as part of the divorce.
Contact Our Salt Lake City Divorce Attorneys Today
We have years of experience assisting people through this stage in their life, and we have the understanding necessary to get you what you need out of your divorce. We offer open communication throughout your divorce proceedings, and we are always available to answer any questions that you have. We know how to evaluate your assets, and we will work hard to get you what is rightfully yours during the divorce.
We offer a free, no obligation consultation to clients who are considering filing for divorce but aren’t sure of the next step to take. We will review your case, and offer you our expert opinion on how you will benefit from filing your case today. We know that filing for divorce takes time, willpower and energy, and we are here to support your decision every step of the way. With a qualified attorney on your side you will get what is rightfully yours, without having to fight for it on your own.
When you are ready to meet with one of Wall & Wall’s experienced divorce attorney that can handle all aspects of your divorce case, it’s time to fill out our contact form so that we can begin discussing your case. We understand that sometimes the hardest part about getting a divorce is making the decision to file, and as experts in the field, we are here for you.