The Advantages Of Utilizing An Experienced Indiana Property Division Attorney
The decision to get divorced is rarely easy. During a time of uncertainty, emotions can quickly spiral out of control. Determining how assets and debts will be distributed can escalate the complexity of the divorce process. The best investment you can make is to select a highly skilled Indianapolis property division lawyer focused on protecting your best interests without stirring up a fight.
Under the guidance of founding attorney Angie Trapp, our Indiana divorce lawyers at Trapp Law, LLC, understand the emotional complexity of getting a divorce. The last thing you need is a lawyer who makes the process even more complicated. They help clients throughout Boone County, Hendricks County and Hamilton County and the surrounding communities navigate property division in a divorce.
Leading You Through The Divorce Process While Minimizing Conflict
When distributing assets in a divorce, there is a lot at stake. How you divide your assets, wealth and debt in a divorce will set the foundation for your financial future. Our divorce lawyers are committed to asserting your rights without adding fuel to a potentially contentious situation.
Dividing Property In A Divorce
Getting married is often much easier than getting divorced. Part of this stems from the complexity of dividing your assets and debts. This can be even harder the longer you and your spouse were married, including:
- Family home
- Vacation homes
- Rental property
- Business property
- Cars
- Antiques, collectibles and jewelry
- Retirement accounts
- Stocks, investments other investment property
At Trapp Law, LLC, our divorce attorneys, led by our founding attorney, Angie Trapp, have extensive experience handling divorces and facilitating settlement agreements with respect to the distribution of property. In a high net worth divorce, our team utilizes financial experts, including forensic accountants and appraisers, to make sure all of your assets are accounted for and accurately assessed.
Reaching An Equitable Distribution Of Marital Property
Generally, any property you had before you were married will remain your own, separate property after your divorce. In Indiana, marital property is divided between divorcing spouses in an equitable manner.
Determining what is marital property can be highly complicated. If a spouse owned property before your marriage and that property was commingled with your marital assets, it can be difficult to identify what is marital property. Forensic accountants can trace how your property was handled and its value. Our property distribution lawyers are committed to protecting your rights and preserving your assets. Their goal is to make sure you obtain an equal value of the marital property.
The Division Of Debt In A Divorce
Like assets, debt will need to be distributed between divorcing couples. Our firm regularly handles bankruptcy filings and has an intricate understanding of debt and how it can factor into a divorce. It is not uncommon for a spouse to simultaneously pursue bankruptcy during a divorce.
How Does A Prenuptial Agreement Affect Property Division In A Divorce?
If you and your spouse entered into a prenuptial agreement prior to your marriage, the terms of a valid prenuptial agreement will direct how the division of property is to be handled. Our attorneys can evaluate the validity of your prenuptial agreement.
Most couples do not have prenuptial agreements. In that case, our divorce attorneys work with you to understand what property you owned before you got married and what property you acquired together.
Frequently Asked Questions About Property Division In Indiana
One of the most difficult aspects of any divorce is figuring out how to divide a couple’s assets and debts equitably – and that does not always mean equally. Understanding more about the process can help you set goals and manage your expectations. Here are some of the basics:
What is considered marital property in Indiana?
Indiana is somewhat unique in its approach to marital property, in that everything a couple brings into a marriage and everything they acquire after is all considered marital property. There are no automatic “carve-outs” that create separate property, although valid premarital and postnuptial agreements may provide significant protections for both parties and affect the division of assets and debts in a divorce.
Can I keep my inheritance if I get divorced?
Under Indiana’s “one pot” system, inheritances brought into the marriage or received during marriage are considered marital property. However, that does not necessarily mean that your inheritance will be evenly divided with your spouse in a divorce – because the court aims for an equitable split. You may be more likely to keep your inheritance if you can show that you scrupulously kept the inheritance separate from the rest of the marital estate.
Because this is such a complex issue, you would be wise to discuss the specifics of your situation with an experienced Indiana divorce attorney. Each situation has to be considered on its own merits to see if the presumption of an equal split can be rebutted.
How long does it take to finalize property division in a divorce?
If a couple can work together to craft an agreement, the divorce – and the property division process – can take as little as 60 days, although most take a bit longer. If the property division process becomes contested and has to be litigated, it can take a year or longer to finalize.
Consult An Indianapolis Property Division Lawyer For Free
Getting divorced does not have to be contentious. Our divorce attorneys, led by our founding attorney Angie Trapp, facilitate an amicable approach to help you obtain an equitable share of your marital property. However, they are also tough litigators that will protect your rights and interests in court if necessary.
Our lawyers offer a free, confidential initial consultation. To schedule your free appointment, contact us online or call our office at 317-668-1230. We look forward to answering your questions and telling you more about how we can help you with your divorce.