The family home is often one of the most significant and emotionally charged assets to divide in a divorce. Deciding what to do with it involves both practical and financial considerations. In Indiana, there are several options for handling the family home during a divorce.
Option 1: One Spouse Buys Out the Other
A common solution is for one spouse to keep the home by “buying out” the other spouse’s equity. This requires:
For many people, retirement accounts are among the most valuable assets they own. During a divorce in Indiana, protecting these savings is a crucial part of reaching a fair and secure settlement.
Are Retirement Accounts Marital Property?
In Indiana, retirement accounts — including 401(k)s, pensions, IRAs, and similar plans — are generally considered part of the marital estate if they were acquired or contributed to during the marriage. Even accounts that started before marriage but grew during it may have a portion included in the marital pot.
When going through a divorce, one of the most common misconceptions is that marital property will always be divided equally. In Indiana, however, the law focuses on what is fair, not necessarily what is equal. This distinction is crucial for anyone considering divorce in the state.
Equal Division Presumption
Indiana law starts with a presumption that dividing marital property equally (50/50) is just and reasonable. This is a baseline, not a rigid rule. A presumption just means that is what the court will assume until the court is provided evidence that there is more-fair split.
When a couple decides to end their marriage, dividing property can be one of the most challenging and emotionally charged parts of the process. In Indiana, understanding how the state defines the marital estate is essential for anyone considering or going through a divorce. Let’s break it down clearly and simply.
What is the Marital Estate?
In Indiana, the marital estate includes all property owned by either spouse at the time a divorce is filed. This is known as the “one-pot” theory, meaning (almost) everything goes into a single pool regardless of when or how it was acquired.
Indiana Law Blog