Indianapolis Property Division Attorneys Serving Clients Throughout Indiana

Did you know that even in an amicable divorce, dividing property in Indiana can get complicated? Unlike some states, Indiana uses an “equitable distribution” approach, meaning assets are divided fairly, not necessarily equally. This can leave you wondering: what is considered fair, and how will the court decide what’s mine?

At Eskew Law, our experienced property division lawyers in Indianapolis are here to guide you through this challenging process with skill and compassion. We aim to reach a just and fair resolution, considering the emotional and financial impact on our clients. If you have questions, please contact us today.

Understanding Indiana’s Laws on Property Division

When deciding how to divide marital assets, the court considers the factors outlined in Indiana Code § 31-15-7-5. These include:

1. Each spouse’s contribution to the acquisition of property. Includes direct financial contributions and indirect contributions such as homemaking and child-rearing.
2. The extent to which property was acquired by each spouse. This includes whether any property was acquired through inheritance or before the marriage.
3. Economic circumstances of each spouse at the time of division. This section examines each spouse’s present and future earning potential.
4. Conduct of the parties during the marriage. This can include considerations of disposition or dissipation of property by either spouse. If one spouse has squandered marital assets, this can impact the division.

These factors are crucial in the Indiana divorce property division process to ensure a just and equitable distribution of assets between the spouses.

However, it is important to know many of the factors involve a determination on a case-by-case basis. Issues such as inheritance, dissipation, and earning capability may require a more in-depth analysis.

What Is Considered Marital Property?

Generally, all assets and debts acquired during the marriage are considered marital property, including: 

• Real estate—your primary residence, vacation homes, commercial real estate, and investment properties.
• Financial accounts—bank accounts, retirement savings (IRAs, 401(k)s), and investment portfolios.
• Personal property—vehicles, jewelry, artwork, and other valuables.
• Debts—mortgages, car loans, credit card balances, and personal loans.

However, assets considered separate property are excluded.

What Is Considered Separate Property?

Because Indiana is a one-pot theory state, it is likely all property will be considered part of the marital estate until or unless there are successful arguments which offset that property. The following assets may considered separate properties:

• Assets owned before the marriage: This includes property acquired through inheritance, purchase, or gift before the marriage. However, they may lose their separate property status if you’ve commingled these premarital assets with marital funds, such as depositing them into a joint account.
• Inheritances: Money or property you inherit during the marriage generally remains your separate property, unless commingling occurred.
• Gifts received by one spouse. Gifts from a third party, except those between spouses, are typically considered separate property. For example, if your grandmother gifts you a diamond necklace, it likely remains yours.

If you have questions about whether a specific asset qualifies as a separate property, contact one of our experienced Indianapolis property division attorneys.

Is Property Division Different for High Net-Worth Divorces?

High-net-worth divorces often involve complex assets and require detailed financial analysis to ensure a fair division. They may include negotiations between attorneys and the involvement of financial experts to accurately assess the value of assets such as businesses, investments, and real estate.

Due to the complexities of these cases, more time may be required for discovery and settlement discussions.

Can Spouses Reach an Agreement Outside of Court?

Yes, spouses can negotiate a property division agreement outside of court. This can be done through mediation or direct negotiation with the assistance of their attorneys. Once an agreement is reached between spouses, it must be submitted to the court for approval.

How Are Retirement Accounts Divided?

Retirement accounts, such as 401(k)s and IRAs accumulated during the marriage, are often considered marital property and may be subject to division. In those cases, a qualified domestic relations order (QDRO) may be required to distribute the funds. 

A QDRO is a legal document that outlines the specific amount or percentage of the retirement benefit to be allocated to the former spouse after a divorce.

It also specifies the timing and method of distribution, which can include lump sum payments or installment payments based on the participant’s retirement date. This process can take some time, and you should prepare for that if a QDRO is necessary to carry out your final distribution.

What Happens to the Family Home During a Divorce? 

When determining the fate of the family home, the court considers factors such as the property’s value, mortgage status, and arrangements for child custody. 

Typically, the family home is classified as marital property and can be either sold or awarded to one spouse.

What If Your Spouse Is Hiding Assets?

Hiding assets is illegal and can have serious consequences, including fines and contempt of court charges. If you suspect your spouse is hiding assets, our attorneys can conduct a thorough investigation and, if necessary, seek the court’s intervention to ensure full disclosure.

How Long Does the Property Division Process Take?

The duration of the property division process can vary significantly based on the complexity of the case and the parties’ ability to reach a mutual agreement, or whether a case will need to be decided by the judge. Simple cases may be resolved in a few months, while more complex cases can take longer.

When Do You Need a Property Division Lawyer in Indianapolis?

Even the most amicable divorces can become contentious when dividing assets. An experienced Indianapolis property division lawyer can be invaluable in the following situations:

• Complex marital assets. If you own a business, have significant investments, or have valuable collections, working with an attorney is necessary to ensure a fair valuation and distribution.
• Hidden assets. Your spouse may attempt to conceal assets. We have the tools and experience to uncover them.
• Disagreements over debt division. Negotiating a fair allocation of marital debt requires a strong legal advocate.
• Prenuptial agreements. A lawyer experienced in prenuptial agreements can explain how these documents can impact property division.

Choosing the right property division lawyer can significantly impact the outcome of your case. An experienced attorney is familiar with the complexities of Indiana’s property division laws and can skillfully guide you through the legal process to achieve your best resolution. 

Eskew Law’s Indianapolis property division lawyers possess the expertise to navigate these complexities and advocate for your fair share.

The Eskew Law Approach to Property Division Cases

Our Indianapolis family law lawyers take a strategic and personalized approach to each property division case. We assess all marital assets and liabilities, including real estate, retirement accounts, investments, businesses, and personal property.

Client-Centered Advocacy

Our commitment is to provide client-centered advocacy. We understand that each divorce is unique, and we tailor our strategies to meet our client’s specific needs and goals. Whether through negotiation or litigation, we strive to protect your interests and achieve the best possible outcome.

Negotiation and Mediation

Many property division disputes can be resolved through negotiation and mediation, avoiding a contentious court battle. Our attorneys are skilled negotiators who work tirelessly to reach a fair settlement that reflects your contributions and future needs.

Litigation Support

When amicable resolution is not possible, our experienced litigators are prepared to advocate for you in court. We build compelling cases supported by detailed evidence and expert testimony, ensuring your rights are defended vigorously.

From initial filings to final judgment, our team is dedicated to providing you with the highest level of representation and support, focusing on protecting your interests and achieving a favorable outcome. 

Selecting the right lawyer for property division can significantly impact the outcome of your divorce. If you’re going through a divorce and have questions about Indianapolis property division, don’t navigate this challenging time alone.

Contact us today to schedule a consultation and get the legal guidance you deserve to achieve a fair and just resolution for your future.