Legal Question in Family Law in Indiana
divorce settlements
what percentage of retirement funds is awarded to each party when the husband's fund is the only fund?
2 Answers from Attorneys
Re: divorce settlements
All depends....is it the only asset? Was it earned entirely during the marriage. Is there basis for a deviation from the presumption of 50/50? There is no way to predict with any reasonable accuracy how any particular asset will be divided until you know how all of the other assets are divided. I can tell you that it is a marital asset just like any other asset, and is not more "his" just becasue it was earned at his place of employment.
Re: divorce settlements
Generally speaking, there is a presumption that there is a 50/50
split of all marital assets. In a pension situation it is customary for 50/50 division of that part of the pension that was earned during the marriage. For example, if he worked 10 years but only 8 while married, absent other factors the wife receives 50% of 8/10, if worked 10, married 10, 50% of 10/10.
However, if there is a tremendous disparity income or income potential or dissipation of assets by one spouse, the other may get more than 50%. Also, if the pension is the only asset under such circumstances, the spouse my get more than 50 %. There may be other reasons for variation. Every case is fact sensitive. Talk to your lawyer.