Merrillville Property Division Lawyers
The property settlement you receive when the divorce decree is issued will form your financial foundation for some time to come. It is important to have skilled and knowledgeable legal representation at this critical time in your life.
At Robert A. Plantz & Associates, LLC, Robert A. Plantz and Alexander Ian Moffett are Merrillville property division attorneys with experience in a wide range of property division matters. He will work diligently to protect your rights and assets and to achieve the optimal property settlement.
To schedule a free initial consultation* with a lawyer about a divorce or property division matter, contact us today.
Working For An Equitable Distribution Of Assets And Debts
In the state of Indiana, marital property and debts (those obtained during the course of the marriage, except for inheritances and certain gifts) are divided on an equitable basis. The word equitable is key. This means that property and debts will not necessarily be divided equally; in fact, circumstances can result in assets and debts being divided on quite an unequal basis. The choice of an attorney is therefore very important.
At Robert A. Plantz & Associates, LLC, we have a thorough understanding of the property division process. We will use our skills to identify separate and marital property, value it and achieve a fair property settlement for you.
Our experience in residential real estate can address issues regarding the disposition of the family home and, if necessary, the reassignment of the mortgage.
Who Gets The House If We Still Have A Mortgage?
That depends. Can either of you qualify for or pay a mortgage loan on your own? The answer to this question may dictate what happens to the family home in your divorce. Your mortgage lender more than likely will not just let one of you off the hook for the loan so that one of you may keep the home without ensuring that the one keeping the home can afford the payments. This means that the one wanting to keep the home will need to apply to refinance the home. If that isn’t a viable option, you may sell the home and divide the proceeds from the sale, if any.
Do I Have To Share My Retirement Savings?
You may have to share your retirement with your future ex-spouse if you contributed to it during the marriage. Even if you began participating in your retirement plan prior to the marriage, you may be entitled to keep any amounts accrued prior to the marriage as separate property. However, any increases during the marriage may be subject to division. Once a determination is made regarding how much of your retirement plan will be divided with your soon-to-be ex-spouse, you will need to make sure that you follow proper procedures by either doing a transfer incident to divorce if you have an IRA or obtaining a qualified domestic relations order (QDRO) for other retirement plans such as a 401(k). Otherwise, you could end up incurring substantial tax penalties.
Experienced In Complex Property Division Cases
At Robert A. Plantz & Associates, LLC, we have represented clients in divorce cases involving ownership of businesses, ownership of professional practices and others involving complex property issues, including those covered in prenuptial agreements. Many couples with complex assets do not realize how easily they can invalidate the terms of a pre- or postmarital contract, and we can help determine if your prenup is enforceable.
Our firm will work hard to protect your rights and interests, and achieve a favorable settlement for you. Robert A. Plantz & Associates, LLC, can call upon experts in appropriate disciplines such as business valuation specialists, forensic accountants and others when needed.
Call To Discuss Your Legal Rights
For a free initial consultation* with a Lake County and Porter County marital asset division attorney, contact our firm at 219-561-0263.