Insert Pages To Legal Utah Property Settlement Forms For Free

As the parties agree, but if they can't agree, the judge will apply this formula (sometimes called the Woodward formula): multiply one-half of the value of the account by the number of years the parties were married and divide by the number of years the employee has worked.

Equitable division of assets will not necessarily be an equal 50/50 split, instead, the court will consider factors like the length of the marriage, the health of each spouse and the occupation of each spouse to determine a fair division.

For long-term marriages, equitable may mean a 50-50 split, or the court may decide that it is fair to give one party more or less than 50% of the property. For short term marriages, the court may put the people back into the economic position they had before the marriage.

Utah is an equitable distribution state, which means that property is divided fairly but not necessarily equally. This includes the marital home, which is considered marital property if it was purchased during the marriage or if both spouses contributed to its purchase or upkeep.

Utah is considered an equitable distribution or common law state which means that the property owner is not automatically assumed to be both spouses equally. Instead, property should be divided fairly based on the amount of time the couple was married and his or her separate assets when they entered the marriage union.

Specifically, she is entitled to get an equitable share in real property (land, house, buildings), personal property (movable assets like cars, jewelry, furniture, tools, dishes), and retirement/pension plan benefits. Aside from a share in the marital property, the wife may also get alimony and child support.