What are equitable distribution of property laws?

Equitable distribution of property laws in Indiana refer to how property is divided between two spouses during a divorce. Property can include money, assets, investments, vehicles, and real estate. The law is based on the principle of fairness that each party should receive a fair share of the marital assets. In Indiana, all assets and debts acquired during the marriage are presumed to be marital property. This means that they will be equally divided between the spouses. However, the court will consider several factors before making a decision about the division of assets. These factors include the length of the marriage, the separate property owned by the parties, and any economic circumstances or contributions made by either party. Another important factor is whether either spouse has an economic disadvantage due to the contributed services to the marriage. If one spouse is economically disadvantaged, the court can award a greater share of the marital property to that spouse. When the court makes a decision about the division of property, it must consider the amount each party will need to maintain a standard of living that was established during the marriage. The court will look at the contributions of each party to the acquisition, preservation, and appreciation of the marital assets. Finally, in Indiana, the court may also consider fault in some cases. Though fault is not usually a factor, Indiana law does allow fault on the part of either spouse to be considered if it is related to the division of property.

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What are equitable distribution of property laws?

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