Fort Wayne Property Division Lawyer
In a divorce, the division of marital property can be a complex issue, and it’s often at the core of a divorce proceeding. The division of property allows splitting couples to understand who is receiving which debts, and which assets. In Indiana, the law requires that property is split fairly, but the division does not necessarily need to be equal — this is known as the “all property” model of equitable distribution.
The Bellinger Law Office can help you ensure that the split is as equal as possible, and that, if it needs to come before a judge, the judge can be made aware of which property is separate and was owned before the marriage, in contrast to property acquired during the marriage. In Indiana, spouses can argue against the presumption of equal distribution if one can show evidence that equitable divisions are not reasonable owing to various factors, including the contribution of each spouse, the conduct of each party during the marriage, and the economic circumstances of each spouse at the time of disposition.
Without a lawyer advocating on your behalf, the judge will, in many cases, divide property according to what they judge as “fair,” regardless of which spouse initially owned an item or at what point in time it was procured.
In most cases, either the divorcing spouses or the court will agree to assign monetary value to every item owned. This includes everything from furniture to real property to retirement assets. The divorce case experience of The Bellinger Law Office can be an advantage in determining the correct value of investments that are harder for inexperienced individuals to appraise.
It’s important to make sure your rights are protected during property division in a divorce, as the decisions made by the court regarding what you are duly owed can have a lasting impact on your own financial security.
If you have questions about the division of marital property, contact our Fort Wayne property division attorney at 260-428-2214, or contact The Bellinger Law Office online.
FAQs About Property Division in Indiana
Indiana is an “all property” state, meaning that everything owned by either spouse, whether acquired before or during the marriage, is subject to division in a divorce. While you can argue that certain assets (like inheritances or gifts) should be treated as separate, the court presumes that all assets are subject to division.
Just like assets, all debts must be divided equitably. This can include mortgages, car loans, credit card debt and student loans. The court will assign responsibility for each debt as part of the final settlement.
Yes, you and your spouse have the option to negotiate a property division settlement on your own or through mediation. If you reach an agreement, it can be submitted to the court for approval. An attorney can verify that your agreement is fair and legally sound before it is finalized.
Retirement earnings obtained during the marriage are typically divided using a Qualified Domestic Relations Order (QDRO), which is a special court order that allows funds to be transferred from one spouse’s retirement plan to the other’s without tax penalties.
Yes. A spouse’s actions, such as the waste of assets or other financial misconduct, can be a factor the court considers when deciding whether to deviate from an equal 50/50 property division.