Each of us knows a parent who has given up his or her career to raise their children. Most of us know an empty nest couple who were so focused on the kids, they later realized they have nothing in common when the children leave. This is when the “D” word comes up: Divorce. Additionally, most of readers know that in divorce in Indiana, the courts normally divide the marital estate 50/50. Where a parent is far advanced and in a company and earning a great living, it is difficult to imagine how an equal division is fair to the ... Read More
Category: Division of Assets
11
Sep2020
10
Sep2020
There are many times couples physically separate but continue to stay married. There are a variety of reasons this occurs. For instance, maybe one spouse has a chronic medical condition and would lose health care coverage he or she has under the other spouse’s group medical plan upon divorce. However, in most cases, there comes a time when a party who has been separated for a time from their spouse wants a divorce to move on (perhaps with a new romantic interest). This raises a profound question. What is in the marital pot for the court to divide? Is it ... Read More
03
Sep2020
With divorce on the rise due to the COVID-19 virus and spouses being stuck at home with each other, many have learned aspects of their marriage they never knew before—such as a partner’s drinking problem, on-line gambling habit, or shopping addiction. Most lawyers have had such cases where such addictions, drugs in particular, have literally bankrupted the parties. The question is, what type of relief is there for the innocent spouse to recover wasted and squandered marital assets? This is called “marital dissipation” in legal terms. This blog covers what you need to know if you are in this situation ... Read More
20
Aug2020
Although not a frequent topic of discussion, the Midwest of the United States supplies a significant amount of the world’s grain. There is also a significant amount of livestock raised in the Midwest. The farm divorce (crops or livestock) is no stranger to Indiana’s domestic attorneys and judges. When the farm divorce happens, it triggers unique considerations for the farmer and his or her spouse. This blog covers what you need to know about a farm divorce.
In Indiana, we follow the one-pot theory of division of the marital assets. This means that everything acquired before marriage brought into the marriage ... Read More
30
Jul2020
In today’s mobile society, it is common for parties to have a second home in another state or country. Many people who are divorcing think this is outside the Indiana divorce court’s jurisdiction because it is not within the state. That is not the case, although it does create several problems for litigants and their attorneys. All marital property brought into the marriage, acquired during the marriage to the date of filing, is marital property for the trial court to divide.1 This blog covers the basics of how homes and other real property located in other places are addressed in ... Read More
23
Jul2020
In many instances, individuals getting divorced will enter into settlement agreements to divide what is deemed “marital property.” Settlement agreements are contractual in nature. Therefore, when individuals enter into settlement agreements dividing marital property, the settlement agreements become binding on the parties. The trial court only retains jurisdiction to interpret the terms of the property settlement agreement and to enforce them. But what happens if the settlement agreement was improper or was based on something like fraud? Is there ever any instance in which a court can modify an agreement? The Court of Appeals recently addressed such questions in their ... Read More
06
Jul2020
A lot of mystery seems to surround the division of assets when parties file for divorce and call the end to the marriage. Numerous questions arise. Do I get to keep family heirlooms I brought into the marriage? Does my spouse get a part of my 401(k) as he or she has her own? If our marriage has only lasted a few years, and I brought most of the assets into the marriage, do I get to keep them? This blog answers these questions generally by discussing Indiana’s one-pot theory and the presumption of an equal division of assets.1
Perhaps the ... Read More
24
Jun2020
In Indiana, assets acquired by either party before the marriage and brought into the marriage, acquired during the marriage and up to the date of filing, are considered marital property subject to the court’s division. Furthermore, the presumption for a just and equitable division is a 50/50 division, although the trial court has vast discretion to deviate for any fair reason.1 Where worker’s comp awards of personal injury settlements (particularly structured settlements) come into play, they generate a lot of confusion and acrimony between the parties. This blog generally surveys the legal landscape and covers what you may do with ... Read More
04
Jun2020
Most seasoned family law attorneys have consulted with divorced parties who learn after the divorce, that a spouse did not disclose assets. These potential clients want to know what, if any remedy, they have in pursuing their share of that asset. The threshold issue is to determine from a cost-benefit analysis if the fight is worth your percentage of the non-disclosed asset. If the account or asset is only worth a few hundred or thousand dollars, then the legal fees and emotional grief related to litigation usually are not worth the fight. On the other hand, if the secreted asset ... Read More
20
Mar2020
Divorce brings uncertainty for parents and children. Normally, at least one parent will be moving out of the marital house and/or it may be sold because without both parties’ incomes the mortgage may be unsustainable. That said, one of the most important factors in raising well-rounded children is having stability. Certainly, moving houses (and maybe schools or districts) seriously impacts stability. In this blog, we analyze the legal aspects of keeping the children in the family home at the time of divorce.
Obviously, if you are the parent seeking custody and you cannot afford the marital residence and the mortgage obligation ... Read More