Legal Question in Family Law in Indiana
Expenses/Assets During the Process
Background: Let's assume assets will be split 50/50. Also, I provided a list of our assets at the beginning of the process.- My question is: Between the time of the provisional and the final decree, I will have expenses such as rent, utilities, food, etc. This will reduce my assets. From a final asset standpoint, will these expenses reduce our joint assets and thus my spouse is basically paying half also, even though I am writing all the checks? Or are assets computing from the initial point of the process, and I am on my own on these expenses?
2 Answers from Attorneys
Re: Expenses/Assets During the Process
The case law says that the assets are to be determined from the date of separation. Assets do not include income which one should be paying expenses. Your attorney should have told you that the courts do not assume a 50-50 split but must presume that split.
You might want to read this blog post of mine: http://haslerlaw2.blogspot.com/2007/02/property-division.html
Re: Expenses/Assets During the Process
The division of assets takes place as of the date of separation. In fact, your assets are usually frozen except for ordinary expenses by the court, so you may wish to consult with your divorce attorney concerning the expenses that you have in mind.
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