How is property divided during a divorce in Indiana?

Indiana’s approach to property division during a divorce is unique. The state operates under the “whole pot” principle. Treating all assets acquired during the marriage as marital property. Here is a closer look at how the property division works in Indiana.

Indiana’s equitable distribution

Indiana is an equitable distribution state. This means that the court divides marital property fairly but not necessarily equally. There is no difference between marital and separate property. Once married, all property owned by either spouse goes into the marital pot.

What is marital property?

Marital property includes all assets acquired by either spouse during the marriage. These can be:

• Wages and passive income.
• Business profits.
• Retirement accounts and military pensions.
• Bank accounts and investment portfolios.

Indiana does not recognize separate property. Assets one spouse owned before the marriage become part of the marital estate.

Factors influencing property division

During the divorce process, Indiana judges consider many factors to divide property equitably. These factors include:

• Economic needs.
• Current income and earning capacity.
• Contributions to the marriage. Both financial and non-financial contributions, such as homemaking.
• Length of the marriage.
• Child support obligations.

Despite the presumption of equal division, circumstances may lead to a different split. For example, the spouse with primary child custody might receive the family home.

Indiana’s property division laws aim to achieve fairness during a divorce. Understanding these laws can help spouses navigate the complexities of asset division. It is advisable to consult with an experienced attorney. A professional can help you protect your rights and interests throughout the process.

In conclusion, Indiana has a unique approach to property division. Understanding this can help you protect your rights and assets during a divorce.