Question:
I receive a bonus from the military roughly every five years.
Will this income be included when calculating my child support payments? If so, how could they count an irregular bonus as part of my annual gross income?
Question:
I receive a bonus from the military roughly every five years.
Will this income be included when calculating my child support payments? If so, how could they count an irregular bonus as part of my annual gross income?
by Erik Carter, JD (Cordell & Cordell, PC)
What constitutes marital property? The answer to this question will largely depend on where you live. In Indiana, all assets owned by either party at the time you file for divorce are considered marital property. It makes no difference how the property is titled. If the property is owned by either party it will be included in the marital pot. This is also true for any liabilities either party may have at the time the divorce is filed. Keep in mind that property will include not only real estate, vehicles, bank and investment accounts but also retirement benefits. Even if you cannot access these funds if they are vested the value of your 401(k), pension, IRA etc. is a marital assets. The value of all assets minus the liabilities equals the marital estate.