Asset Division Attorney in South Bend, Indiana

Asset division is a critical aspect of divorce proceedings. It's not just about splitting everything down the middle; it involves identifying marital and non-marital property, assessing the actual value of assets, and negotiating a fair division.  

At Jay Lauer Attorney at Law, I help clients with the complicated and often overwhelming process of asset division. With over four decades of experience, my practice serves clients in South Bend, Indiana, Granger, Mishawaka, and Northern Indiana. I can guide and support you during this challenging time. As a solo practitioner, I offer responsive and accessible services, so you always have direct contact with your attorney. 

The Asset Division Process

Understanding asset division can protect your rights and ensure a fair divorce outcome. 

Identifying Assets

The first step is to identify all marital and non-marital assets. This includes real estate, bank accounts, retirement accounts, investments, businesses, and personal property. I can help you gather the necessary documentation and make sure that all assets are accounted for. 

Asset Valuation

A fair division is only possible if there is an accurate asset valuation. This may require appraisals for real estate, businesses, and valuable personal property. I work with trusted professionals who can provide accurate valuations to inform negotiations. 

Negotiation and Mediation

Whenever possible, I try to resolve asset division through negotiation and mediation. This gives both parties a say in the outcome and can lead to more amicable resolutions. I can represent your interests and advocate for a fair division that aligns with your goals. 

Court Proceedings

If negotiations fail, we may need to proceed to court. With my extensive trial experience, I can prepare a solid case for the judge. I can ensure that all relevant factors are considered and that your rights are protected throughout the process. 

Finalizing the Agreement

Once a fair division has been reached, the next step is to finalize the agreement. This involves drafting a property settlement agreement that outlines the specifics of the asset division. This document should be comprehensive and legally binding to avoid future disputes.  

I will work closely with you to make sure that all terms are clearly articulated and meet the legal requirements. Once both parties have reviewed and signed the agreement, it will be submitted to the court for approval, concluding the asset division process. 

Challenges in Asset Division

Some challenges can arise in asset division due to legal complications and personal dynamics. 

Hidden Assets 

Sometimes, one spouse may attempt to hide assets to avoid sharing them. Detecting hidden assets requires a thorough investigation and understanding of financial documents. I work diligently to uncover any concealed assets and create a fair division. 

Complex Financial Portfolios 

High-net-worth individuals or those with complex financial portfolios may face additional challenges in asset division. Accurately valuing stocks, bonds, and other investments requires specialized knowledge. I can leverage my experience and network of financial experts to address these issues. 

Family Business 

Dividing a family business can be particularly challenging, as both spouses may have contributed to its growth. Determining the value of the business and deciding whether to sell, divide, or continue co-owning it requires careful consideration. I can guide you through this process, prioritizing your best interests. 

Asset Division Laws in Indiana

In Indiana, the law mandates an equitable distribution of marital property during a divorce. Considering various factors, this does not necessarily mean a 50/50 split but rather a fair and just division.  

Marital property includes assets acquired by either spouse during the marriage. Non-marital property, on the other hand, comprises assets acquired before the marriage or through inheritance or gifts designated explicitly to one spouse. 

Several factors influence the division of assets in Indiana: 

• Contribution to the marriage: This includes financial contributions as a homemaker. 

• Economic circumstances: The court will consider each spouse's economic status, including their earning potential and existing assets. 

• Future needs: The anticipated future needs of each spouse, particularly if one spouse is responsible for the care of minor children, will be considered. 

• Behavior during the marriage: Conduct that has significantly impacted the financial stability of the marriage, such as the dissipation of assets, can influence the division.  

• Child custody arrangements: If one spouse is granted primary custody of minor children, they may receive a greater portion of the assets to provide for their care.