Whether you are contemplating or undergoing a divorce in Indiana, it is important to know what to expect in terms of property division so that you can adequately begin planning for your post-marriage future.
Property division when divorcing is often far from simple. Whether it comes to items of monetary or sentimental value, their division and distribution can often be contentious and difficult. So what are the procedures for property division in the state of Indiana?
Indiana, like most states, does not recognize the concept of “community property,” whereby all assets acquired after marriage are considered equal. Rather, Indiana operates on a system it deems more equitable, which allows for more flexible options when it comes to property division in the case of a divorce.
While community property is not recognized in Indiana, judges have discretion to divide the property in ways they deem more equitable. Specifically, marital assets in Indiana are divided according to the “one-pot theory,” whereby both assets and debts acquired during the marriage, as well as individual property and debt ownership prior to the marriage, are part of the property division proceedings.
Though this can put one party in the position to receive more property after a divorce, it can also mean that that person receives more of the debt accrued before and during the marriage. To avoid being unjustly burdened with your spouse’s debts, it may be best to contact a lawyer that has experience in divorce proceedings in Indiana. At Omega Law PLLC, we have years of experience advocating for the rights of our clients. To learn more about divorce proceedings in Indiana, you can visit our website.