Marital Legal Separation and Property Settlement Agreement Minor Children Parties May have Joint Property or Debts where Divorce Action Filed - Indiana 2025

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Assets you had before marriage or those you inherited typically fall into this category. As long as you havent mixed these assets with marital property, they remain separate. For example, if one spouse inherited a valuable painting or received a large gift, the court generally wont divide these items.
There is a presumption of equal division of marital property, but the economic circumstances of each spouse may require other division of assets. For instance, the spouse awarded primary physical child custody may receive the house, even if the other spouse owns it.
Assets that may be protected from equitable distribution during a divorce are typically belong to one of two types: premarital property that has been kept from being commingled or transitioned and gifts or inheritances.
A spouse who is concealing assets might start to control conversations around money, evade questions, and show a heightened sense of defensiveness. They might also begin to receive mail from banks or financial institutions that you were previously unaware of, potentially indicating the opening of new accounts.
In community property states, the court generally divides marital assets equally, regardless of each spouses employment status. However, in equitable distribution states, the division of assets will consider factors like the length of the marriage and each spouses contributions, which may not result in a 50/50 split.