Working with an experienced attorney can be the best way to ensure that you are not taken advantage of during the equitable distribution process. If you are interested in learning more about dividing your assets and property in Indiana, continue reading.
Indiana Equitable Distribution Law
In some states, when a couple divorces, their marital assets and property are divided down the middle, with each spouse retaining a 50 percent share. However, Indiana is not one of those states. Here, we follow equitable distribution laws.
This means that your marital property, assets, and debts will be equitably divided, which rarely means a fifty-fifty split. It can be complicated applying this law to real estate, in particular, which is why it would be well-advised to enlist the services of a seasoned divorce attorney.
What Does This Mean for Your Marital Real Estate?
The way equitable distribution applies to your real estate will largely depend on the other assets and debts you have acquired as a married couple. For instance, if your shared home is the only asset either of you have, you might agree to sell the property and retain a 50-percent share of the profits.
Conversely, if you have several assets and properties, you might agree to have one spouse retain real estate property while the other keeps stock and bonds, for example. The details of your marital financial estate will be the single most important factor in determining how the equitable distribution process will impact your real estate and other assets.
Work with an Indiana Divorce Lawyer
To ensure that you are awarded the assets, property, and real estate that is rightfully yours in a divorce settlement, reach out to an Indiana divorce lawyer at Rowdy G. Williams Law Firm at your earliest convenience.
Come in for a free consultation so we can learn more about your impending divorce. To take us up on this opportunity, contact our office by phone at 1-812-232-7400 or through the contact form we have included at the bottom of this page.