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Dividing property during a divorce can create stress and uncertainty—especially when it comes to questions about who gets the house, retirement accounts, or other valuable assets. Indiana has specific rules about how courts handle property division, and when you know these rules, you can prepare for what lies ahead.
At Myers & Wallace, LLP, our family law attorneys in Fort Wayne help clients work through the challenging process of asset division during divorce. We have over 50 years of combined legal experience and can guide you through Indiana’s property division process. Whether you want to reach a settlement agreement or need representation in court, our law firm will work to protect your financial interests. Contact us today to discuss your situation with an asset division attorney serving Northeast Indiana.
Indiana takes a distinct approach to property division compared to many other states. While Indiana is not a community property state, courts generally start with the important assumption that an equal split of property is fair and reasonable. This means judges begin by planning to divide assets 50/50 between spouses.
However, this equal division serves as only a starting point. Either spouse can present reasons why an equal split would not be fair in their particular situation. If either party can show the court why a different division makes more sense, a judge may adjust the distribution of property.
Indiana law takes a broad view of what property courts can divide during divorce. Unlike many states that only divide “marital property,” Indiana courts can divide nearly everything either spouse owns. This includes:
The only property that stays separate is what either spouse acquires individually after filing for divorce or legal separation. This broad approach means that courts consider your complete financial picture when making decisions about property division.
Determining what your property is worth is an essential step in the division process. Some assets have obvious values, like bank account balances or publicly traded stocks. Other assets require more work to value accurately.
For complex assets, you may need help from financial professionals, such as real estate appraisers, business valuation experts, and actuaries (who can calculate the present value of pension plans or retirement accounts).
You do not have to let a judge decide how to divide your property. Indiana courts encourage couples to reach their own agreements about property division. If you and your spouse can work together to create a fair distribution plan, you can submit your agreement to the court for approval. Judges typically approve these agreements as long as they appear reasonable and fair.
Reaching your own agreement offers several benefits. You have more control over the outcome. You can avoid the time and expense of going to trial. And you can create solutions that fit your specific situation better than a one-size-fits-all court order.
A Fort Wayne divorce attorney can help you work toward a settlement agreement. Your lawyer can make sure you understand what you are entitled to receive and can advocate for your interests during negotiations.
While Indiana law presumes equal division is fair, courts can order unequal splits when circumstances justify a different approach. To convince a judge that unequal division makes sense, you will need to present evidence about relevant factors.
Indiana courts consider several factors when deciding whether to divide property unequally:
The spouse asking for unequal division has the responsibility to prove why an equal split would not be fair. Judges have considerable discretion in making these decisions based on the evidence presented.
Indiana law gives judges several tools for dividing property between spouses. The method used often depends on the types of assets involved and what makes practical sense.
Courts can divide property through several approaches:
Your attorney can explain which approach makes the most sense for your situation and can advocate for the method that best protects your interests.
The family home often represents the largest asset a couple owns together. Deciding who keeps the house can be emotionally charged and financially significant.
Indiana law allows judges to consider whether the spouse with custody of children should be able to stay in the family home. However, courts do not automatically award the house to either spouse.
If you and your spouse cannot agree about the house, a judge will make a decision based on your specific circumstances. Options include:
A Fort Wayne divorce lawyer can help you explore your options and develop a strategy for addressing the family home.
Property division is just one part of divorce, but it can have lasting effects on your financial stability. If you’re going through divorce in and around Fort Wayne, our family law attorneys at Myers & Wallace, LLP, can provide you with the guidance you need at this critical moment. We understand Indiana’s property division laws and can apply them to your situation accordingly. We will work to identify all relevant assets, gather evidence about their value, and build a strong case for fair division.
We pride ourselves on being responsive to client inquiries and will keep you informed throughout your case. Our lawyers handle each divorce with the attention and care your situation deserves. Whether through negotiation or litigation, our law office can fight for a property division that protects your financial interests.
Contact our Fort Wayne law firm today to schedule a consultation and learn how we can help you work toward a fair outcome in your divorce.
Myers & Wallace, LLP helps with a wide variety of legal needs throughout Indiana. If you need assistance for a case relating to employment law, civil rights, criminal defense or personal injury call us at 260-424-0600 so we can get started on developing your personalized strategy.
