People contemplating divorce usually have a lot of questions about the process. One of the most common concerns that people express is the likelihood of losing valuable property during the divorce. People don’t understand how judges divide property and what to expect if they take the case to court.
The lack of information about property division can make it very difficult to negotiate a settlement, as people may have unrealistic expectations. Baseline awareness of state statutes can help people prepare to present their case in court or negotiate with their spouses.
What rules may apply to property division if spouses pursue a litigated or contested divorce?
Judges look for equitable solutions
The Indiana approach to property division requires an equitable or fair solution. The state has a statute that deviates somewhat from the equitable division statutes in other nearby states. Indiana family law judges usually begin the property division process with the assumption that a 50/50 split of assets is equitable.
However, either spouse can present evidence establishing that an even division of assets and debts is not fair. Judges may look at various details from the marriage to determine if granting one spouse more property or making them responsible for more debt is a fair solution.
The duration of the marriage, the health of the spouses, the earning potential of each spouse, the custody arrangements for their minor children and their individual contributions to the marriage can influence what a judge decides is fair. Judges can award each spouse a portion of the marital property and can make them responsible for specific marital debts. They can also order the sale of assets as a means of repaying marital debt or more readily dividing the value of those assets between the spouses.
People do not have to submit to the decisions of a judge when they divorce in Indiana. It is always possible for divorcing couples to reach their own terms and then have a judge convert their proposed settlements into a property division order.
Discussing marital circumstances and learning more about divorce statutes can help people prepare for upcoming divorce negotiations. Those with accurate information about Indiana divorce rules may have an easier time settling outside of court and retaining control over the process.