Three Ways to Protect “Loans” From Family and Friends in Divorce Proceedings
How can I protect money my parents or friends loaned me (actually “us” legally speaking) from being divided with my spouse in the divorce?
A common scenario that unfolds in a divorce is a claim by the husband or wife that certain money in the marital estate and asset was loaned the divorcing couple and should be repaid. In most cases, there is not a perfected loan (document) recognized under Indiana ... Read More
03
Apr2018
13
Mar2018
Divorce is often the best of times and the worst of times - all at the same time. The decision to move on in life from a worn-out relationship is hard-to-impossible to make, particularly where there are children involved. The “unknowns” and “uncertainty” are what hold many people back. On the other hand, life is short and taking steps to move to a new future when a marriage cannot be repaired is at the same time, liberating to exciting for many litigants. This blog post provides three ... Read More
31
Jan2018
This blog discusses the considerations in the division of a farm as part of the marital estate and how same may be valued in a dissolution proceeding. A farm that as part of the marital estate creates unique issues in a dissolution of marriage, and the potential for argument over the ultimate division of the farm property, which the firm has handled at the trial court level and on appeal to higher courts.
In determining the division of farm property, some consideration must be given ... Read More
08
Jan2018
In some divorces, there is “foreign” real estate within the total marital estate1. Typically, this falls into one of three categories: (1) a timeshare or some other similar factional ownership; (2) a home or property sited in another state; or (3) a home or property located in another country. Under the Indiana Divorce Act—Indiana’s body of law that guides judges in divorce proceedings—all such real property is subject to the jurisdiction of the divorce court and must be divided. This blog covers the unique legal concepts and issues ... Read More
08
Dec2017
In today’s digital world with global work and play, people from different cultures, backgrounds, and ages marry. In many cases, there are significant differences in net worth, age, and business ownership. For this reason, some couples choose to enter into pre-marital agreements under Indiana’s Uniform Pre-Marital Act.
A prenuptial is a document or series of documents, that specifies what a divorce court is to do in divorcing the parties in a divorce filing when separating their assets and liabilities. This blog addresses legal issues you ... Read More
06
Nov2017
Marriages fail for many reasons. There are no longer fault-based divorces in America. This means that a spouse no longer has to prove “fault” such as adultery—an affair--to obtain a divorce. This is a different legal concept than “waste”—when a spouse uses assets and monies to support illicit or illegal acts that reduce the amount the trial court has to divide in a divorce. The presumption is an equal division on divorce. This blog post introduces the complex legal analysis that ... Read More
03
Nov2017
The Use of Forensic Accountants and Private Investigators to Find Hidden Assets in Divorce
In Indiana when you file for divorce, there is a rebuttable presumption that the Court is to divide the marital estate or assets 50/50. Sometimes there are allegations that a party has hidden monies and other assets of the marriage that has to be divided. There is a rule that the division of the marital estate cannot exceed its entire value.1
This means that if the total value of the ... Read More
12
Oct2017
In complex or high asset divorces, attorneys sometimes face property, such as a vacation home, located abroad. The question becomes, “is this part of the marital estate?” Yes. All property no matter where located is marital property. Indiana subscribes, under the Dissolution Act, to the one pot theory where all assets brought into the marriage, acquired during the marriage, or to the date of filing are assets of the marriage the court can divide.
This is settled law. This blog explores enforcement of ... Read More
13
Jun2017
The point of divorce is to divide and financially separate each party from the other—completely if there are no children; children are subject to the continuing jurisdiction of the court until emancipated or through college. This blog covers the complexities of situations where the parties have a parcel of real property in another state or country, addressing the question: Can a trial court divide this real property, and if so, how is the judgment enforced?
Indiana follows the one pot ... Read More
10
Apr2017
The benefit of a high net worth divorce is there is generally money to divide to allow the divorcing spouses to live a comfortable lifestyle after divorce; however, this type of divorce litigation often presents with the form of complex financial, tax, and legal questions.
If so, these are necessary to be answered with relative precision before and at trial so the parties can best litigate their legal positions and the trial court has sufficient evidence to divide the marital estate in just and reasonable manner.1 This ... Read More