Wyoming property division attorney
Ending a marriage requires settling various financial matters between the divorcing spouses. In every marriage, each spouse owns their own respective separate property, and the couple shares ownership of marital property. This generally includes income earned by both spouses during their marriage, property purchased jointly, and all assets and debts acquired during their marriage. Divorce requires the spouses to divide their marital property, and every state uses a different method for accomplishing this fairly in divorce.
Facing a divorce and unsure how your assets will be divided? Protect your financial future by getting the right legal guidance. Contact us at (888) 445-2318 to discuss your case today.
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Understanding Equitable Distribution in Wyoming Divorce
Every divorce is unique. Some couples work together to reach fair agreements, while others struggle with disputes that require court intervention. Many people picture divorce as a long, stressful courtroom battle, but in reality, most couples in Wyoming resolve property division through alternative dispute resolution rather than litigation.
Wyoming follows equitable distribution laws, which means marital assets and debts are divided fairly, though not necessarily equally. If couples negotiate a settlement outside of court, they have more control over the outcome. However, if they cannot agree, a judge will make the final decision, which may not align with either spouse’s expectations.
How Property Division Works in Wyoming
Before assets can be divided, both spouses must provide full financial disclosure to the court. This includes:
- Income, bank accounts, investments, and business interests.
- Real estate, vehicles, and other valuable assets.
- Debts such as mortgages, loans, and credit card balances.
If one spouse claims certain assets as separate property, they must provide documentation proving ownership. Without this, the court will presume the asset is marital property and subject to division.
In cases where couples cannot agree on property division, the court may order assets to be liquidated so both parties receive a fair share.
Marital vs. Separate Property
Not everything owned by either spouse is considered marital property. Some assets remain separate, meaning they belong to only one spouse and are not subject to division.
Separate property typically includes:
- Inheritances received before or during the marriage.
- Gifts from family members or friends.
- Assets protected by a prenuptial agreement.
- Property owned before the marriage (if not mixed with marital funds).
Debt is also treated similarly. If a spouse incurred debt before the marriage, they are usually responsible for it after the divorce. However, debts accumulated during the marriage are typically divided based on each spouse’s financial contributions.
In some cases, a spouse may try to hide assets or waste marital funds before divorce to reduce the amount available for division. Courts take this seriously and may impose financial penalties if misconduct is proven.
Factors That Can Complicate Property Division
While equitable distribution laws aim to create fairness, certain factors can make the process more challenging:
- High Net Worth – When a couple owns complex assets such as businesses, stock portfolios, or cryptocurrency, valuing and dividing them can be difficult.
- Prenuptial Agreements – If a valid prenuptial agreement exists, it will outline how assets should be divided, potentially streamlining the process.
- Hidden Assets or Fraud – If one spouse attempts to conceal assets, the other may need to take legal action to ensure a fair settlement.
Property division can be complex, but you don’t have to navigate it alone. Whether through negotiation or litigation, we’ll help you secure a fair outcome. Contact us at (888) 445-2318 to get started.
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Amazing law firm. They will represent your best interests! They communicate well with you and are straight forward with everything from rates to the legal process. Myles Johnson is a experienced, knowledgeable, well-versed in the laws as they pertain in each county throughout the State of Colorado. As a client, I highly recommend Johnson O'Keefe!!- Caleb
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They’re professional and supportive team work was beyond efficient and they got the job done in the least amount of time and with the least stress possible. They’re an amazing team to help with family needs and are always available to answer any questions or support. I would definitely recommend Myles and Genet Johnson for any family legal needs.- M.A.
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I worked with Elizabeth and she did way more for me than I thought possible. I was in a bad situation when I came in. She took my case then proceeded to go above and beyond until the very end. With them working my case my stress about the whole thing was pretty much gone.- Nick D.
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I wasn’t familiar with the process of child custody but I must say not only did Myles and his team direct me properly but it was a process that wasn’t money motivated. Very professional group, I was constantly informed of any step or move needed to be made. When you have someone in your corner that understands the importance of family it makes the situation a ton easier, thank you Myles and Johnson group for everything!- Dwight
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I was in a very difficult custody/child support dispute with my ex-spouse. Working with her was such a wonderful experience, kept our goals at the top of every conversation, knew all points and avenues that we could take, never lead us in the wrong direction They worked tirelessly on my case and the outcome was exactly what I expected! I would recommend this firm to anyone who is going through a family law issue.- Liz
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Myles was excellent during my divorce and custody case. I had a very high-stress, and complicated situation, and not only was he efficient, but he kept me at ease throughout the entire process.- Former Client
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Helped me through a difficult divorce and made what I thought was going to be an impossible process so much easier. Everything was handled well, they listened to all my concerns, and responded in a timely manner. I would highly recommend using Johnson O'Keefe, they are amazing!- Sonja
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Myles and his firm did an excellent job on my case. He helped me settle a financial dispute with my ex-wife concerning my retirement income. Myles was a good communicator and responded to questions and concerns promptly. I will definitely call him if I am ever in need of a lawyer.- Rob
Guiding Wyoming Clients Through Property Division in Divorce
Wyoming is one of many US states to use an equitable distribution law. This property division method aims to ensure the fairest possible division of marital assets and debts in divorce by accounting for as many details as possible between the divorcing spouses. The equitable distribution standard typically aims to resolve property division with some measure of finality, negating the need for ongoing spousal support arrangements. However, every divorce is unique, and it is possible for spousal support to come into play in any Wyoming divorce in which the spouses have vastly different earning power.
Regardless of what your divorce may involve, you and your soon-to-be ex-spouse must resolve property division and various other financial issues to complete your divorce. Johnson O’Keefe can provide the communicative and detail-oriented legal representation you need on your side to approach your case with greater confidence and peace of mind.
If you have questions about property division in Wyoming divorce or need to speak with a Wyoming property division attorney about your situation, contact Johnson O’Keefe to schedule a free consultation with our team.
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Individualized AttentionJust as each family is unique, so is each family legal matter. We always take the time to completely understand your situation so that we can tailor our advice and strategy accordingly.
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Highly RecommendedOur clients often take the time to write and thank us, not only for the results we have earned for them but also for the respect we’ve shown them.
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Supportive CounselWe never lose sight of the fact that divorce and other household conflicts can feel overwhelming. Our family lawyers will answer all of your questions to ease your burden in this difficult time.
