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How is Property Split Up During a Divorce?
Divorces often involve the division of property between the spouses.
Identifying Marital Property and Separate Property
In Utah, the court treats any property a spouse owned before the marriage as separate property (appliances owned before marriage, gifts, inheritance, etc.) and any property acquired during the marriage as marital property (houses, boats, furniture, etc.)
Fair, but Not Always Equal.
Under Utah law, an equitable division of marital property is required. Although equitable means fair, it does not necessarily mean an equal 50-50 split. If an agreement on how to split property is reached beforehand, a judge must review it to make sure that it is fair.
General Factors Considered When Dividing Property
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The length of marriage
- Courts typically consider any marriage lasting ten years or longer to be long-term, and anything shorter to be short-term.
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- Short-term marriages will typically end with dividing assets to put both spouses in the same positions before marriage, while long-term will typically end with an equitable division for each party.
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The standard of living established during the marriage
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The age and health of the spouses
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Occupation
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Agreements
- Prenuptial agreements, also known as premarital agreements, lists all property each person owns, and what each person’s property rights during the marriage are in the event that they later get divorced. These are enforceable in Utah.
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- A prenuptial agreement must be in writing, must be executed voluntarily, and must be written in contemplation of marriage.
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Bank Accounts
- Levels and sources of income, as well as their future earning potential.
Distribution of Property
After categorizing and valuing property, the court will decide how to allocate whatever property is subject to distribution.