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.