The state of Utah takes marriage seriously when couples decide to divorce. There are always several factors that must be considered during the decree determination and division of assets is one of the most important. Several factors can impact this division, including length of the marriage and the earning capacity of the paying spouse. The standard of living enjoyed during the marriage can matter as well with regard to income potential and personal assets brought to the marriage. Some property can be allocated as personal, but financial gains accrued on those assets during the time of the marriage could well be included in property division. For couples with significant assets, this can be a very complicated and contentious issue in the final divorce decree, and having an experienced law firm handling the case is very important for an equitable divorce settlement.
Financial Status of the Family
Financial status of the family is involved practically in every aspect of a divorce. Some of factors that will be included are evaluating the asset value and the time at which the assets were acquired. Utah is not a community property state, but the general rule of a one-half split does not necessarily apply in certain situations because the court has considerable latitude when inspecting all marital finances. Debt can be a major factor as well. Value determination of assets can be complicated when retirement packages are included or if the couple owned a viable profitable business. In addition, if the recipient spouse contributed to the earning power of the paying spouse during the marriage by paying for any education leading to that increase, a portion of the ongoing earnings can be included in a final decree. Spouses who have contributed in any manner to the success of the business will be entitled to a portion of the value of the family business based specific factors of valuation.Fault
In some states, the fault that is listed in the divorce papers for the dissolution of the marriage is not applicable during division of property. Utah is not one of those states. If the behavior of one spouse regarding infidelity or illegal activity is listed as part of the reasoning for the divorce filing, the court can include those claims when determining any financial disposition of property, including direct alimony payments. Behavior that contributes to the need for a divorce can matter greatly in Utah, including ongoing financial viability and standard of living had the marriage continued until the death of one spouse. Emotional damage done during the course of the marriage can matter when the court makes financial decisions.Dependents
Although child support is usually a separate issue from alimony, the number and health of minor dependent children can matter when alimony is being determined. The earning capacity of the paying spouse is a central consideration along with accumulated assets, but ongoing financial support of dependent children can include valuation of assets that would also contribute to that support, including the cost of health care and insurance.Alimony can be a complicated issue in a Utah divorce, and it is always a good decision to retain an attorney that is focused in practice on divorce cases like the legal professionals at Wall & Wall Attorneys at Law. Let them put their experience and expertise at work for you.
About the Author:
Cory Wall has over 28 years experience as a divorce and family law attorney, and is a member in good standing of the State Bars of both Utah and California. Cory aggressively representing his clients in matters including the complex and difficult issues surrounding paternity, child custody, alimony, grandparent rights, property and debt division.
Wall & Wall Attorneys At Law PC
2168 Fort Union Blvd.
Salt Lake City, UT 84121
801-441-2388
