Indiana Sample Letter for Divorce - List of Liabilities and Assets
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How to fill out Sample Letter For Divorce - List Of Liabilities And Assets?
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FAQ
Typically, debts should be divided as equally as possible. Bringing forth evidence that splitting debts evenly wouldn't be ?just and reasonable,? however, will change things. Debts gained before the marriage or put only in one person's name may be left to only one or the other spouse.
Indiana is an equitable division state. This means the court does not have to divide property equally between the spouses. Instead, it aims to divide things up more fairly.
To file for divorce, you'll need to submit a Petition for Dissolution of Marriage. The Clerk's Office does not provide a form for this petition. You can research what language the dissolution document should contain at a law library. For legal assistance, seek the advice of an attorney.
A financial declaration gives the court an overview of your monthly income and monthly expenses. Both parties need to file a sworn financial declaration (under penalty of perjury) whenever child support, maintenance, attorneys' fees, or any other financial issue needs to be determined.
Usually, a person is responsible only for his or her own debts. So if you did not sign the contract or loan agreement for your spouse's debt, you usually would not have to pay that debt....
Most debts incurred during a marriage will need to be divided during divorce proceedings. In equitable distribution states, the court tries to divide debts fairly, but that doesn't always mean equally. In community property states, each spouse is liable for 50% of debt incurred during marriage by either spouse.
If you get divorced, your legal responsibility for your spouse's debt will depend on the state laws ? whether you live in a common or community law state ? and any prenuptial agreements you signed. If you served as a cosigner or co-borrower, you will be responsible for those debts regardless of where you live.
