Complex Property Division
Complex Property Settlements & Litigation
Property settlements in a divorce can easily be as complicated as the sale of a business or professional practice. In the same way a business accumulates inventory, accounts receivable and other wealth over the years, a couple can amass substantial assets during the course of a marriage. Some of the more valuable assets might not be any more apparent to the couple than a dusty but priceless painting sitting unnoticed at a garage sale. We offer our clients experienced and knowledgeable assistance in recognizing and valuing assets in the dissolution process. Tasks such as determining the value of a business or professional practice are difficult and complex. Generally, experts must be consulted to determine the value of enterprises such as medical practices, law offices, accounting firms and other professional practices and businesses. Our experienced divorce attorneys have years of experience in selecting, consulting, retaining and cross-examining valuation experts.
Even in cases which are not highly "contested," and in which the parties both desire to work out a settlement, there are important issues which may not occur to them and are therefore at risk of being overlooked absent the advice of an attorney. Assets such as insurance benefits, vested interests in stock options, employment packages, severance packages, and pensions may not appear valuable to the couple, because the asset may appear too contingent or too remote. However, these assets may be among the most valuable assets of the marital estate; and the disposition of such assets is often dependent upon the sophistication of the attorney involved.
In all cases, the lawyer's knowledge and understanding of Indiana's equitable distribution property division laws is critical to the division of assets received by a spouse during the marriage as the result of gift or inheritance.
Division of marital property in a dissolution action also may involve complicated tax consequences. Appreciated property can lead to capital gains issues which occur upon the disposition of one spouse's share of a jointly owned asset. One joint owner of property who recognizes gain on an appreciated asset can also affect the gain, and the later tax liability, for the other (former) spouse. We have often found that after encouraging a client to take a step back to consider the "tax picture," the client's position as to division of assets may change.
Apart from division of assets, some spouses may be entitled to receive temporary or potentially permanent maintenance from the other spouse after Decree. Under certain circumstances, rehabilitative maintenance may be awarded to a spouse at final Decree on a temporary basis in order to afford the (former) spouse the opportunity to reenter the job market or to obtain the necessary training or education to qualify for certain employment. Indiana law also provides for an award of maintenance based on the disability of a spouse, and can be ordered for the duration of the disability. In rare instances, maintenance may be ordered based upon one spouse's duties of care relating to a disabled child of the parties.
For more detailed information on divorce and its related issues, we invite you to visit our other informational pages, including our
In your dissolution of marriage action, the representation you choose will make a difference in your life. Only an experienced attorney knows the right questions to ask and the proper methods to use to identify and value assets of varying types, and to pursue claims of spousal maintenance. If you want to be sure you have all the important issues addressed, contact Pennamped & Associates today for an appointment.
