The decision to end a marital relationship can prove difficult for many Utah residents. The issues that lead to this choice may differ from person to person, and though it was a hard decision to make, many more choices will need to be made during the course of the divorce proceedings. In particular, individuals may have concerns when it comes to asset division.
There are many different assets that could present complications when it comes time for division. For example, if a person has deferred compensation, such as stock or stock options provided by an employer, a spouse may want to have those assets divided. However, it can be challenging to accurately divide these types of assets, and professional assistance may be worth consideration.
Other assets that some parties may wonder about include insurance policies. When it comes to life insurance, the cash value of the policy may be divided during the divorce. Health insurance policies, on the other hand, do not necessarily go through the division process. However, it can still prove useful to discuss how the changes to these policies could affect coverage for each person and any children.
In addition to these items, some Utah residents may have unique pieces of property that could cause concern during asset division proceedings. Luckily, individuals could discuss their questions with knowledgeable attorneys if they wish to gain assistance. These legal professionals can provide useful information regarding state asset division laws as well as help parties understand their options for potentially working toward the outcomes they most desire.
Source: akronlegalnews.com, “How are employer benefits and other unique assets divided in a divorce case?“, Michael C. Craven, Dec. 27, 2017