Asset & Debt Division Attorneys in Salt Lake County
Handling Property Division Cases with Care
A divorce is like severing a contract. Assets and debts must be divided; alimony and child support, if applicable, must be awarded; and child custody must be determined.
Utah divides assets and liabilities equitably – and this does not necessarily mean equally. To protect your interests during a divorce, choose an experienced property division attorney in Salt Lake County. South Jordan-based Eric M. Swinyard & Associates, PLLC is dedicated to helping clients navigate the process of dividing debts and assets.
Contact our office today to schedule your confidential consultation. Call (801) 515-4133.
How Is Property Divided in a Divorce in Utah?
Couples have two types of assets and liabilities: non-marital and marital. Non-marital assets and liabilities are those that a spouse owned before the marriage. Gifted and inherited assets, even if gifted or inherited during the marriage, are also non-marital property.
All other assets and debts are marital and are subject to equitable distribution. Furthermore, commingled assets that belonged to one spouse before the marriage are usually considered marital assets.
For example, if the husband had a bank account with $25,000 in it, added his wife’s name to the account, and then used the account to pay marital debts, the account becomes a marital asset that is divided equitably. In many cases, simply adding a spouse’s name to an account makes it a marital asset subject to equitable distribution. Several factors determine what percentage of each asset is awarded to each spouse.
Hear From Our Happy Clients
At Eric M. Swinyard & Associates, PLLC, your satisfaction is our priority! See for yourself what our clients have to say about working with us.
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Eric did an awesome job.
Eric did an awesome job for my heavily contested custody case. Each of the professionals we worked with seemed to speak very ...
Gavin S. -
I would definitely refer them to others for any legal needs!
I worked with Eric and his team during a stalking case. They were awesome to work with! They kept me informed and comfortable ...
Mallory H. -
He is very prompt with his responses to emails and phone calls which makes the process less stressful.
Eric was very knowledgeable about the process and explained the options available without pressuring me into something I was ...
Amy Lee -
He handled all matters promptly and thoroughly. He cares deeply about his clients and makes sure their needs are fully understood.
Eric is an outstanding attorney. He handled all matters promptly and thoroughly. He cares deeply about his clients and makes ...
Thomas M. -
I have had an absolutely positive experience through and through with them. They’re professional, empathetic, and ethical. I wish I could give more than 5 stars.
It takes a lot to say that you love the experience you had with your lawyer, but it’s true. Ryan Ficklin is awesome. Eric ...
Nicolle G. -
Highly recommend Eric and Preston without reservation. Their fees are more than reasonable and their service more than expected.
Very professional and represented both parties fairly. At the end of the day, we received such empathy and understanding at a ...
Bart -
This was all so stress free. I’m extremely great full for Preston and his staff for putting forth all the time to help me out!
Guys! I had THE best experience! I had NO idea how to file for my divorce but Preston was amazing, very patient and made sure ...
Dalisa -
I couldn’t be more pleased with the results and would definitely recommend Eric to anyone looking for a fantastic lawyer and a great price. You won’t be disappointed.
Eric is amazing! I have worked with several lawyers over the years and Eric is the first I have felt actually cared about my ...
Logan
Factors Affecting Property Division
If you and your spouse cannot amicably divide assets and debts, the court will do it for you. In most cases, it is better that you come to an agreement on the fair and equitable distribution of property. While the court will come to a fair and equitable distribution, you may not get an asset that you want.
When determining how to divide assets equitably, courts consider:
- How long the parties were married
- Each spouse’s contributions to the marriage
- The future needs of each spouse
- Alimony awards
- Child custody
- The health and age of each spouse, which includes employability, potential retirement, and business chances after the divorce
How Is Property Value Determined?
The amount of money a piece of property is worth is defined as a fair and impartial assessment of the property’s value. An accurate evaluation of real property value is determined by a professional real estate appraiser. In general, household items are not included in the division of assets during a divorce unless there are items of significant value. Personal property like furniture, collectibles, and vehicles will be determined by the resale value.
Contact Eric M. Swinyard & Associates, PLLC Today
If you need help navigating the property division process, our asset and debt division lawyers in Salt Lake County are just a phone call away. We look forward to protecting your rights and representing you throughout your case.
Reach out to us today at (801) 515-4133.
