What if a couple is on the divorce process and one of them has shares in a company abroad, will the owner have to split those shares?
In the State of Utah, the answer is yes. In Utah all assets are equitably divided by the court or between the parties at the time of divorce. With that said, the best answer to this question depends on the laws of the jurisdiction in which the couple is getting divorced.
Generally, in a divorce, a court will order the division of any assets or property acquired during the marriage. This includes any foreign assets or accounts regardless of where they are located. For example, if a couple is getting divorced in the United States, the court will consider any foreign assets or accounts owned by either of the parties as marital assets and will order the division of those assets in accordance with the divorce decree. This includes any foreign shares that the couple owns.
The court will typically order the couple to divide the shares in an equitable manner, which may mean that one party will be required to purchase the other party out of the ownership. This is frequently done via mediation in Utah.
If you need legal help in Utah, give this law firm a call:
Jeremy Eveland
17 North State Street
Lindon, UT 84042
(801) 613–1472
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