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 ...
Tag: division of assets
September 3, 2020CD
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 ...
July 6, 2020CD
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 ...
June 24, 2020CD
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 ...
June 4, 2020CD
In most civil litigation, when you are sued, such as in a divorce, which is technically a complaint, you have to provide an answer to avoid a default judgment and losing.1 However, in divorce, there is no requirement to provide a cross-petition (or answer in a technical sense).2 Yet in a few instances, it may make sense to cross-petition. This blog addresses cross-petitions and their uses and some common myths surrounding cross-petitions. Factual mistakes: Perhaps the most common reason to file a cross-petition is that the divorce petition has factual mistakes that should be corrected to have accurate filings before the ...
May 28, 2020CD
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 ...
March 20, 2020CD
Divorce sometimes presents unique problems for high-income earning and high net-worth litigants. These problems are diverse and present in ways ranging from making private information public through the divorce process to valuing businesses and unique assets. In this blog post, we cover three keys such litigants need to know to navigate the divorce process and flourish after the divorce is final. The first consideration in most high net worth cases is valuations. These may range from valuing businesses to unique assets like artwork. Smart and prudent use of qualified experts usually saves time and money in the overall resolution of your ...
January 31, 2020CD
The most helpful divorce litigant is one who understands the divorce process for the issues in their case (such as disputed custody or division of high assets marital estates). In this blog we will survey some of the key considerations a judge will typically utilize in dividing up high asset estates; generally, these are net marital estates that surpass one million dollars in net worth (after the liabilities are deducted). The place to start in understanding how judges look at property division is with the presumptions in the Divorce Act (the statutes that have been passed by the legislature and signed ...
January 17, 2020CD
Upon divorce, your investment accounts, whether it be a common stock portfolio, retirement account, or pension, is a property that is subject to division upon divorce. That leads many to ask the question of whether they will have to sell the investment account in order to divide it upon divorce? This blog provides a brief overview of how investment accounts are handled upon divorce and provide an answer to the question of whether you are required to sell such investments. In Indiana, all marital property is subject to division in a dissolution of marriage. “Marital property” is property that is owned ...
January 16, 2020CD
It is safe to say that most adults use some form, if not many, of social media. It keeps friends and family informed, helps with networking for business, and is entertainment at your fingertips. This is all great, but when you are going through a divorce, you may wonder what your social media activity can affect. It is also possible that you wonder what the information you gain from your ex-spouse’s social media can affect. In this blog, we will briefly explore some downfalls for both you and your soon-to-be ex with social media use. Also, we provide some tips ...
December 5, 2019CD