Individuals who are going through a divorce in Indiana often have questions regarding the division of pre-marital property. Indiana follows the rule of equitable distribution, which means that all marital assets you and your spouse share are divided 50/50 during divorce proceedings. If you have questions regarding pre-marital property in an Indiana divorce, it’s important that you hire a divorce lawyer who can protect your property rights and ensure you receive what you own.
Stange Law Firm, PC: Trusted Indiana Divorce Lawyers
When you’re trying to move through this transitional period of your life, it’s crucial that you have a legal advocate by your side. The family law attorneys at Stange Law Firm, PC, understand how complex and overwhelming it can be to deal with the division of marital assets in Indiana. Our team shares extensive experience helping clients navigate contentious divorces and work tirelessly to ensure you receive what you’re rightfully owed.
What Is Pre-Marital Property in Indiana?
Pre-marital property, otherwise known as separate property, is not the same as marital property and comes with different ownership laws. Pre-marital property in Indiana refers to property, businesses, debts, and investments that one spouse had before they were married. This property is not subject to equitable distribution in Indiana if it is classified properly, which a lawyer from our firm can help you do.
Equitable Distribution and Indiana Code § 31-15-7-5
The most important Indiana statute regarding marital property is Indiana Code § 31-15-7-5. The statute sets forth a legal presumption that courts must make before the spouses may rebut it. Courts will start from the notion that marital property should be split between the parties 50/50. However, you and your lawyer can counter this notion by presenting relevant evidence that identifies separate property or your need to receive additional property.
Your local Indiana family court will consider a wide range of details to ensure the division of your marital property is as fair and equal as possible. They will consider elements such as:
- The earning capacity of each spouse
- Each spouse’s current income
- Whether one spouse has valuable separate property
- Whether children are involved and whether a parent is their primary caregiver
- Each spouse’s health
Common Pre-Marital and Marital Property Seen in Indiana Divorces
When you’re going through an Indiana divorce, it’s critical that you hire a divorce lawyer who can ensure your rights to your separate property are protected. Common pieces of pre-marital property that a spouse may acquire on their own include:
- Inheritances
- Gifts
- Investments
- Businesses
- Real estate properties
Separate property is not legally allowed to be distributed during a divorce, as it is only legally owned by one party. However, any marital property that both spouses collect while their relationship is active can be split. Common pieces of marital property seen in Indiana include:
- The family home
- All automobiles
- Bank accounts
- Investments
- Jewelry
- Furniture
- Businesses that are jointly owned
- Vehicles like boats, ATVs, golf carts, and more
Understanding how you can protect your assets during a divorce is critical because the general legal presumption is that all marital property should be equitably distributed between the parties, which generally means half of the marital estate goes to each spouse.
Why You Should Hire a Property Division Lawyer From Stange Law Firm, PC
In 2023, the state of Indiana was ranked the sixth state among jurisdictions with the highest divorce rates. The cities in Indiana with a large number of divorce cases include Richmond, Evansville, and Anderson.
The family law attorneys at Stange Law Firm, PC, share years of experience helping clients successfully navigate complex divorce cases throughout Indiana. Our family law team is dedicated to protecting the interests of you and your family and works tirelessly to build strategic solutions that help you feel comfortable and confident moving forward. When your property is at stake, don’t wait to hire a legal advocate who can protect your future.
FAQs
Is Indiana a 50/50 Divorce State?
Many clients have questions about the 50/50 equitable distribution rule under Indiana law. The state of Indiana follows equitable distribution, which means that courts make a legal presumption that a 50/50 division of marital property is reasonable. However, parties can rebut this presumption by presenting evidence of things such as future projected earnings for each spouse, dissipation, and the value of premarital assets.
What Money Cannot Be Touched During an Indiana Divorce?
Separate property is the most common form of property that cannot be touched during divorce proceedings in Indiana. Examples of separate property include premarital funds, gifts, and inheritances. Also, items of separate property cannot be commingled with marital assets, or they may become part of the marital estate. Parties who want to protect their separate property should avoid mixing separate property with marital property and hire a divorce lawyer.
When Should You Hire a Property Division Lawyer in Indiana?
If you’re going through a divorce in Indiana and want to ensure your property is protected and distributed according to your interests, it’s crucial that you hire a property division lawyer. An experienced divorce lawyer can guide you through complex proceedings, help identify all separate property and valuable interests, and fight to ensure you receive the property you’re rightfully entitled to.
How Much Do Divorce Lawyers Cost in Indiana?
Hiring a divorce lawyer in Indiana can vary immensely in cost depending on factors unique to your situation. For example, if you only hire a lawyer for assistance with property division, you may pay less than if you hire a lawyer to help you through your entire divorce process. Your lawyer’s experience, the complexity of your case, and whether litigation is needed all impact the total price you pay for a divorce lawyer.
Reach Out to Stange Law Firm, PC, Today
At the Stange Law Firm, PC, our team devotes our time to protecting Indiana families and helping them get through difficult times. We treat all of our clients with the compassion and dignity they deserve and are committed to helping you find resolutions. Contact Stange Law Firm, PC, today to learn more about how we can help you with property division matters in Indiana.