In a divorce in Indiana, the court follows a “marital pot” theory. At the time of the filing of the petition for dissolution, this theory places all of the couple’s property (assets and liabilities), regardless of title (jointly or individually) or if it was a gift, inheritance, or owned before the marriage, in one pot which is subject to division. Indiana courts follow a rebuttable presumption that a 50/50 division is just and reasonable. However, the court may, after hearing relevant evidence, find that a party should receive a greater percentage of the marital pot. The court will examine factors including but not limited to:
It is important to keep in mind that there is no guarantee that a court, at a contested final hearing, will grant a party their desired division of personal property. Before getting married, parties are able to set forth a formula that varies from the 50/50 presumption, to divide their marital pot by executing a prenuptial agreement. Even if the parties are married, they may also set forth a formula to divide their martial pot by executing a postnuptial agreement. After executing prenuptial or postnuptial agreements, the court and parties are provided with a clear picture of how to divide the marital pot, if the parties were to divorce.
Carmel divorce lawyer Joshua R. Hains brings a decade of experience to each and every case he handles. Attorney Hains can help you navigate the complex process of dividing marital assets. Contact Hains Law, LLC today to discuss your options.