If you and your spouse are ready to call it quits, divorce is on the table. However, if you have wealth and don’t have an existing prenuptial or postnuptial agreement, you may have concerns about your assets, debts, and property, as well as whether you’ll owe astronomical sum of alimony.
Continue reading to learn more about the equitable distribution process, and why attending mediation with your soon-to-be ex may be in your best interests.
The Equitable Distribution Process
Unlike in states in which marital assets are divided right down the middle, Indiana is an equitable distribution state for divorce, which means that your marital assets are going to be divided equitably versus equally. For high net worth individuals, this could be a good or bad thing if you do not protect your assets from falling into the hands of a vindictive ex-spouse.
The good news is that any assets, property, and debts you brought into the marriage will remain yours, as only the marital property is up for grabs when it comes to the equitable distribution process. Frequently seen assets in high net worth divorces include the following:
- Real estate
- Stocks and bonds
- Investment pieces
- Retirement savings
Several factors will be taken into consideration when figuring out which spouse retains which valuables including any custody arrangement you might have, how each spouse contributed to the success of the marriage, and the income and expenses of each spouse.
You may also wind up negotiating alimony if one spouse is earning more than the other. Although spousal support isn’t guaranteed in divorce proceedings; the purpose is to ensure that both spouses are able to maintain their quality of life post-divorce. For this reason, protecting your finances becomes even more important in high net worth divorces.
Mediating Your High Net Worth Divorce in Indiana
Before these critical decisions end up in the judge’s hands, it may be in everyone’s best interests to see whether you can come to an agreement regarding the terms of your divorce settlement. If your case goes to court, either party may wind up unhappy with the judge’s decision.
Contact an Indiana Divorce Attorney
When you have considerable wealth and are going through a divorce, a qualified Indiana divorce lawyer at Rowdy G. Williams Law Firm may be able to assist in protecting your property and assets.
Come in for a free consultation to discuss the details of your divorce settlement. You can schedule by calling our office at 1-812-232-7400 or completing the quick contact form we have provided below.