For many couples, divorce is a long, arduous journey. Finally getting the divorce decree marks the end of the road for a broken relationship and opens the door to a world of new possibilities. That said, the actual divorce decree may still leave many legal details to be attended to or a party is placed in substantial risk in the weeks, months, and even years to come. This blog looks at five mistake that are commonly made when a divorce decree is entered—don’t let this be your case. Designation of Beneficiary Status: A designation of a beneficiary is a person named ...
September 23, 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
Sometimes a marriage may last many years, and sometimes divorces do too. Normally, if there is a mistake in the final decree, such as failure to decide an issue or misapplication of the law, the preferred remedy is filing a Motion to Correct Errors or taking an appeal to the Indiana Court of Appeals within thirty days. If you do not, you may be stuck with the problem. Nevertheless, sometimes months or years later a party discovers a major problem with the decree1 or some fraud. What do you do? Well, Indiana’s laws are structured to provide due process and ...
September 6, 2018CD
Most marriages last at least a few years if divorce is in the cards. Most litigants see obtaining the divorce decree as about the final step in that hard process. However, to have the best chance of returning your life to the closest place it was pre-divorce, a great deal of work needs to occur post-divorce. First, make sure at the time of the divorce, key policies and protections don’t lapse like health insurance, auto insurance, and life insurance. Between changes of address and mail rerouting, this is easy and having an uncovered auto accident just makes healing from the divorce ...
May 31, 2016Adam Hayes
Getting divorced can be a long and arduous process for both parties. The decree of dissolution divorces the parties, but still leaves many things left to do. The dissolution is a shift in the relationship between the parties, but not the end of the relationship all together. There is still communication that needs to happen. Sometimes important matters are forgotten or postponed, causing small to major problems in the future. Here are some common examples: QDRO In dividing marital property, the retirement accounts of one or both parties may have been divided by agreement or the Court. To achieve this division, a ...
May 13, 2014CD
A QDRO (pronounced quadro) is a Qualified Domestic Relations Order. A QDRO is used to divide certain types of financial accounts, such as retirement 401K and IRA. This is necessary because these financial accounts often have restrictions for withdrawing funds, unlike a cash savings account, such as major tax consequences. Remember that when a couple divorces, all of the assets and debts either party owned before or during the marriage must divided equally (there are some exceptions for an unequal division). This includes investment accounts such as brokerage accounts, IRAs, 401Ks, cash, real estate, tangible property (furniture or collectibles), etc. Yes, ...
February 27, 2014CD
When involved in domestic litigation, it can be difficult enough to navigate the legal jargon, terms, objections, and the like. But even more confusing still are the various acronyms used in domestic relations law. Below are five (5) common acronyms you might hear through the course of your family law matter. 1) DRCB DRCB stands for Domestic Relations Counseling Bureau, which is an agency that performs evaluations in a domestic relations matter particularly in matters involving custody and parenting time disputes. The DRCB appoints an evaluator who meets with the family members, together and separately often, reviews outside/collateral materials, and submits a report ...
January 30, 2014CD
At Ciyou & Dixon, P.C., we frequently observe two (2) major (assets) in a marriage that have been fertile battleground for litigants: the marital home and pension and retirement plan. In most places around the United States, these are not as valuable as they once were. About everyone knows individual homes to commercial real estate have lost value and are only now stabilizing in terms of price. For this reason, and because of low down payment requirements, a large number of homes are “underwater.” The fight lines are drawn over who is going to take the home, not who is going ...
November 24, 2011CD