The legal framework governing the dissolution of marriage in Indiana dictates how assets and debts acquired during the marriage are divided between the parties. This framework mandates an equitable distribution of marital property, meaning a fair division rather than necessarily an equal one. For instance, if one spouse owned a business prior to the marriage, the increase in value of that business during the marriage could be subject to division.
The equitable division of marital assets is a cornerstone of family law in the state, intended to ensure both parties receive a fair share of the wealth accumulated during the marital partnership. This principle acknowledges that both spouses contribute to the marital estate, whether through financial contributions, homemaking, or childcare. Historically, property division laws have evolved to reflect changing societal views on marriage and gender roles, moving away from strict ownership rules to a more nuanced understanding of shared contributions.
