Do you know the difference between the words equitable and equal? They are not synonyms for each other and, in the case of a divorce, it’s important to know the difference. In Utah, the law requires an equitable division of assets during a divorce. In this case, equitable means that these assets will be split fairly, not equally.
So what does this mean? Property that you and your spouse own will need to be divided fairly. The couple can decide on their own how the property will be split and will sign an agreement for this. If this cannot be done, the court can decide how the property will be split. Below is a list of properties you may need to consider splitting.
Personal property – This includes furniture, jewelry, cars, tools, equipment, etc.
Non-marital property – This is property that was owned before the marriage. This will most likely be awarded to the person whose name is on the property or who previously owned it before the marriage.
Retirement and pensions – In the case that the court divides this, it will be divided equitably between each individual in the marriage.
Real property – This includes houses, land, and other buildings in the possession of the couple.
Need Help With Your Divorce?
You can trust the attorneys at Hillyard, Anderson, & Olsen to guide you through this complex process. We offer superior legal care to all who choose our team of experienced attorneys. To schedule your consultation, give us a call at 435-752-2610.