The process of ending a marriage is generally stressful for all parties involved. Undoubtedly, working through what will happen to the marital assets is one reason people in the state of Indiana feel that way. This is understandable when one considers the approach used in the state to make this determination.
The “one-pot” theory
Couples that divorce in Indiana can expect that the assets divided include not only the assets acquired in the course of the marriage but those brought by each spouse to the marriage. While in some cases that approach will not make a big difference in amount received, other times, it will. Because of this, great care should be taken to make sure the amount secured in the divorce settlement is all that is deserved.
Securing a fair settlement starts early. Before any matters are discussed, you should make sure you are aware of all sources of income and how much is spent on living expenses. In addition, know which assets will be divided as well as how much they are worth. They may include:
- Investment accounts
- Real estate
- Employee benefit plans
Once you have a clear idea of what assets need to be addressed, you can enter settlement negotiations. Because no two couples are alike, just what that final agreement will look like depends on the specific situation.
Because working through financial and other issues connected to a divorce can be difficult, it is generally advisable that those who find themselves in this situation work with a lawyer and other necessary professionals, to reach an agreement.