Division of Assets
Whether you have a significant portfolio or have been living paycheck to paycheck, Indiana law treats your assets and debts as being marital property and subject to division, making the decision to hire a dedicated Indianapolis property division attorney all the more important. This is known as the “single pot” theory of marital assets. It is typical to divide retirement accounts, bank accounts, investments, and personal property. The presumption is that these items will be divided equally; however courts frequently deviate from an equal division. Below is a list of frequently divided items and how the experienced attorneys at our law firm in Indianapolis, IN can assist in the advantageous division of assets.
It is important to have a skilled attorney assist you in the protection of your rights to the family’s retirement assets. The first question for a retirement benefit is; Is it vested? If your account is not vested then it has a value of $0.00. There are a multitude of options in asset division for retirement accounts depending on the individual plans available for retirement. Whether you have saved in an IRA, 401(k), or traditional pension, your options for division vary. Additionally, certain retirement accounts, usually government-funded, are not divisible to non-governmental retirement plans. You’ll want to know the advantages of each type of account and how to best protect your future and an Indianapolis property division attorney at Eskew Law LLC is here to help.
Most families have real estate in some form. The courts can order the real estate sold, though more commonly it is awarded to the parent who received primary physical custody of the children if applicable, as there is a statutory provision for that asset division. If you’re looking to retain your marital residence, there are several factors, specifically whether or not children are involved, that can influence the court’s decision. Knowing these factors can provide you with an important advantage in court.
Items that have been accumulated need to be accounted for and divided. This usually includes the family’s vehicles, jewelry, and electronics as well as less valuable items. You’ll want to have an accomplished Indianapolis property division lawyer advise you on the division of these items to make sure your transition to your new life is as seamless as possible.
As with everything else, Indiana presumes inheritances are part of the marital estate…so long as they’ve actually been inherited. If your benefactor has not yet passed, then you don’t actually have an inheritance to divide. Should you have the misfortune of losing a loved one, your use of the finances and items inherited will impact the courts final distribution of the inherited property. A qualified Indianapolis divorce attorney at Eskew Law LLC can help prepare your case to fight to protect these interests.
Indiana is generally considered a “non-alimony” state. Indiana law does account for circumstances which would require one spouse to provide support for the other. There is no calculator for these scenarios, as with child support, though an experienced attorney can present the appropriate amount of maintenance if any should be awarded.
Temporary maintenance is awarded during the period of time from the filing of the divorce until the court can finalize the dissolution. This is often awarded when one spouse would be left without income and is in need of support to ensure survival for the pendency of the case. This is not always a cash payment and most commonly takes the form of continuing health insurance coverage. Temporary maintenance often includes the continued payment of the mortgage, rent, car payments, insurance, food, and gasoline while the case is pending. As your credit score is at stake throughout the divorce, protecting these debts often is advantageous to both parties.
Rehabilitative Spousal Maintenance
Indiana code allows 36 months of post dissolution spousal maintenance to assist one party in the hopes of returning the disadvantaged spouse to a reasonable earning capacity. Often one spouse has left the workforce to care for children and has suffered employability issues. The committed Indianapolis family law lawyers at Eskew Law LLC know when to ask for spousal maintenance and how to argue to benefit our clients in order to protect their future.
Permanent Spousal Maintenance
Permanent spousal maintenance is rarely awarded in Indiana as it usually requires some form of permanent incapacity. This goes beyond a mere finding that someone is disabled, but also that they are in need of the support of their former spouse for a longer period of time without consideration for rehabilitation. The attorneys at Eskew Law LLC have experience with the pursuit and defense of permanent maintenance.
When we take on your divorce, custody, or support case, we will be committed to helping you reach your goals and build a strong foundation for the future. We know how important your children are, and we know how to employ Indiana law to protect your rights.
Call the Eskew Law LLC office today at (317) 974-0177 or contact us online to schedule an initial consultation with an Indianapolis property division attorney at our downtown office.