The ending of yet another year and thinking about life and goals for the next year brings up all sorts of thoughts; psychologists and lawyers will tell you the clients they see have them run the gambit during the holiday season (Thanksgiving-Christmas-New Years). Often this brings up a continually declining marriage and thoughts of filing for divorce. So, with the holidays, it often the best of times, with gatherings of family and friends, and the worst of times, with the thought of entering another year in bad marriage. This blog addresses the key reasons you should probably wait to file ...
December 13, 2018CD
Every year there is a surge in divorce filings from January to March. Why? Most couples, specifically those with children, are reluctant to break up during the closely-spaced holidays of Thanksgiving, Christmas and New Years; particularly, with the office parties and other events that are almost holiday rituals, like Black Friday shopping. After all, there is a whole year to get divorced before a reset of these holidays and hopefully start the next year with a clean slate as a single person. This blog explores seven key considerations in preparing for a “Happy-New-Year” divorce filing. The children: Perhaps the most important ...
November 15, 2017CD
Fortunately, Indiana has a strong and growing economy with little debt. For this reason, along with its central location, many marital estates are in excess of one million dollars. Divorcing parties in this situation are fortunate in that they likely have enough money to properly account for the basic cost of a divorce which is a complex legal transaction (including tax issues, determining finances through a financial declaration, attending a parenting class, and valuing and dividing assets that were often not contemplated to be divided). With the high asset divorce, there are two great challenges facing lawyers and their clients. The ...
March 6, 2017Adam Hayes
Failing to Include Assets and Value Them and Informal Loans from Parents and Third Parties While emotion often overrides divorce proceedings, particularly where child custody is in dispute, it is key to identify if sufficient evidence of all assets of the marital estate are present. Marital assets also include debts. The Indiana Court of Appeals recent Barton v. Barton case makes this point. First, loans versus gifts from parents are difficult to determine. It is the litigant’s burden of proof to establish in the evidence the funds from a parent or a third party are a loan instead of a gift. Typically, ...
December 17, 2015Adam Hayes
In any divorce proceeding the assets and debts must be divided between the respective spouses. Thus, there are three (3) questions to consider: 1) What is the marital estate made of? 2) What does the law say about dividing it? And 3) How do I get my fair share? 1) What is the marital estate made of? In Indiana, the marital estate is all assets and debts owned by either spouse both before and after the marriage. This is called the “marital pot” theory.1 2) What does the law say about dividing it? In Indiana, it is presumed that the marital estate will be ...
June 10, 2014CD
What about if I am already married? Divorce rates in America might be on the decline, but the statistics are still staggering. For example, 41 % of 1st marriages end in divorce; 60 % of 2nd marriages end in divorce; and 73 % of 3rd marriages end in divorce! Another interesting trend is that people tend to be getting married later in life, after they have completed their educations, built a career foundation, and accumulated some assets (a 401k, a house, a car, etc.). When you finally decide to marry, it is easy to get caught up in the bliss of being ...
June 3, 2014CD
When beginning the divorce process, one of the first and most commonly asked questions is how to unwind the property and assets of the marriage and divide them between the two parties. Especially with marriages of longer duration, everything is “ours”, and years of accumulating personal property and assets can be overwhelming when determining division. Indiana state law provides that all marital property goes into one pot and the presumptive division to each party of assets and liabilities is 50%/50%1. But, how do you divide and value years worth of marital property equally? First, personal property can often be divided quicker than ...
January 21, 2014CD
A recently decided case in Indiana addressed an issue often not considered in divorce proceedings, namely, if one or both of the parties (Husband and/or Wife) have co-signed on a loan, is that a debt of the marriage? First, a co-signer is generally not liable until the borrower actually defaults on the loan. This is done as a guarantee to the lending institution if the borrower does not have a solid credit history (either because of debts defaulted on or the borrower is young and does not have established credit yet). The most common occurrences are co-signing on a car, apartment, ...
October 10, 2013CD