Indiana Divorce Asset Worksheet: Filing, Valuation, and Costs

The Indiana divorce asset worksheet is the Financial Declaration both spouses must complete, sign under penalty of perjury, and file with the court. It lists every asset, every debt, and current income for each spouse. Indiana follows a “one-pot” rule, so the form is not limited to things you bought together or hold in joint names: premarital property, inheritances, and assets titled to one spouse all go on it. The judge uses the completed declarations to set temporary support, guide settlement discussions, and divide the marital estate at the end of the case.

Why Everything Goes on the Form

Under Indiana Code 31-15-7-4, the court divides all property owned by either spouse, whether it was owned before the marriage, acquired individually during the marriage, or built up through joint effort.¹ A premarital savings account, an inheritance received five years in, and the family home you bought together all land in the same pot.

That does not mean premarital or inherited property is automatically split down the middle. It means the court has authority to consider it. You cannot leave an asset off the worksheet by deciding on your own that it is “yours.” Everything of value must be disclosed; the judge decides what a fair division looks like after seeing the full picture.

Assets to List

The Financial Declaration asks for a complete inventory of what you and your spouse own, individually or together. The categories to work through:

Real estate. Primary home, vacation property, rental units, and vacant land. Include the address, estimated market value, and the outstanding mortgage balance for each parcel.
Vehicles and recreational property. Cars, trucks, motorcycles, boats, campers, and farm equipment. County forms typically ask for year, make, model, and license number.
Bank and investment accounts. Checking, savings, certificates of deposit, money market funds, and brokerage accounts, with institution name, account type, and account number or last several digits.
Retirement accounts. 401(k) plans, IRAs, pensions, deferred compensation, and stock options. The court can divide retirement benefits payable after the divorce by assigning a percentage of future payments to either spouse.¹
Business interests. Ownership stakes in closely held businesses, professional practices, partnerships, or LLCs. These usually require a professional valuation by a forensic accountant or certified business appraiser.
Personal property. Jewelry, artwork, collectibles, firearms, and household furnishings worth enough to matter in the overall division.
Life insurance and annuities. Policies with cash surrender value are treated as assets, not just coverage.

Pull your most recent statements for every financial and retirement account so the balances you report are current rather than guessed. For real estate, a recent professional appraisal is ideal; a county tax assessment or a broker’s price opinion can stand in. Business interests are the hardest to pin down and almost always require outside help from a forensic accountant or certified appraiser working from tax returns and financial records.

Debts to List

The worksheet is not just about what you own. Debt reduces the net value of the marital estate, so every outstanding liability belongs on the form:

Mortgages and home equity lines of credit secured by real property
Vehicle loans tied to cars, trucks, or recreational vehicles
Credit card balances on both individual and joint accounts, reported as of the separation date
Student loans incurred during the marriage
Significant outstanding medical debt
Tax liabilities owed to the IRS or the Indiana Department of Revenue, including any liens
Personal loans and lines of credit from banks, credit unions, or family members

Joint Debt Does Not Disappear

One of the costliest misunderstandings in divorce is thinking that once the judge assigns a joint credit card or loan to your spouse, you are off the hook with the creditor. You are not. Creditors are not bound by divorce decrees. If your name is on a joint account, the lender can still pursue you for the full balance regardless of what the divorce order says. The decree gives you the right to go back to court and enforce the order against your ex-spouse. It does not rewrite the contract with the creditor.

Before the divorce is finalized, try to pay off and close joint accounts, refinance joint loans into one spouse’s name, or move balances to individual accounts. Leaving a joint account open and hoping the other side will pay is where most post-divorce credit damage happens.

Income Information

The declaration also asks for current income data: gross weekly or monthly pay, payroll deductions for taxes and benefits, health insurance premiums, and any other mandatory withholdings. The court uses this alongside the asset data to calculate temporary child support and spousal maintenance while the divorce is pending.

When Assets Are Valued

Indiana does not lock in a single statutory valuation date. The judge has discretion to value assets as of the filing date, the separation date, or closer to the final hearing. The number on your initial declaration may need updating before trial if significant time has passed or market conditions have moved. Retirement accounts, real estate, and business interests are especially prone to fluctuation, so keep updated statements on hand and supplement your disclosure if the court or opposing counsel asks for current figures.

If you genuinely do not know the value of an asset when you file, provide a reasonable estimate based on current market conditions and note that the figure is an estimate rather than leaving a blank.

Which Form to Use and How to File It

Indiana does not have a single statewide Financial Declaration form that every county uses. Some counties publish their own version as an appendix to local family law rules; others accept a general format approved by the Indiana Office of Court Services. Your county clerk’s office or the local court’s website is the most reliable place to download the correct form for your jurisdiction.

Whichever form you use, the declaration is signed under penalty of perjury.² That preamble is not boilerplate. Deliberate falsehoods can lead to contempt, financial sanctions, an unfavorable property split, and in extreme cases criminal perjury charges.

Timing is set locally and varies significantly across the state. Floyd County, for example, requires both parties to exchange their Verified Financial Disclosure Forms within 45 days of the initial filing in contested cases.³ Other counties set a 30-day deadline. Check your local court rules early. Missing the deadline can trigger sanctions, attorney fee awards, or postponed hearings.

Filings go through the eFile IN system.⁴ Odyssey is the separate statewide case management system courts use internally to track cases, not the filing portal.⁵ After you file, serve a copy on your spouse or their attorney so both sides are working from the same financial record.

The exchange of declarations counts as mandatory discovery under Indiana’s Trial Rules. If your spouse refuses to cooperate or files an incomplete form, your attorney can file a motion to compel, and the court can impose Trial Rule 37 sanctions ranging from attorney fee awards to striking pleadings or entering a default judgment.

What Happens If You Hide Assets or File Inaccurately

Indiana courts take disclosure seriously, and getting caught hiding assets is one of the fastest ways to lose credibility with the judge handling your case. The consequences escalate:

Contempt of court, which can carry fines, sanctions, or jail time
An unequal property division: under IC 31-15-7-5, dissipation or concealment of property is a statutory factor that allows the court to deviate from the 50/50 presumption, and judges regularly award a larger share of the known estate to the spouse who played it straight⁶
Attorney fee awards covering what the other side spent uncovering the hidden assets
Criminal perjury exposure, because the declaration is signed under oath

If you suspect your spouse is hiding assets, your attorney can use interrogatories, subpoenas for financial records, and depositions. Stonewalling triggers the Trial Rule 37 sanctions above.

How the Worksheet Drives the Final Split

Indiana Code 31-15-7-5 presumes an equal division of the marital estate is fair, but either spouse can present evidence that an unequal split would be more just. The statute lists five factors the court weighs:⁶

Each spouse’s contribution to acquiring the property, including non-income contributions like homemaking, raising children, or supporting the other spouse’s career
Whether property was acquired before the marriage or through inheritance or gift
The economic circumstances of each spouse at the time of division, including whether awarding the family home to the custodial parent serves the children’s interests
Dissipation or disposal of property during the marriage, such as gambling losses or spending on an affair
Each spouse’s earning ability

Every number on the Financial Declaration feeds this analysis. Undervalue an asset or omit a debt and you are distorting the calculation that decides your share.

Costs to Plan For

Several expenses come up while you are putting the worksheet together. Professional residential appraisals for divorce purposes typically run $400 to $800, depending on the property. Business valuations performed by a forensic accountant cost substantially more and can reach several thousand dollars for complex operations. If retirement accounts need to be divided, expect both attorney drafting fees and a plan administrator processing fee for the separate order the plan requires. Private mediation, which many Indiana counties encourage or require before trial, generally runs $100 to $600 per hour, with sessions lasting from a few hours to a full day. Budgeting for these costs early keeps the process from stalling when a bill arrives.

1
Indiana General Assembly. Indiana Code 31-15-7-4 – Division of Property
2
Tippecanoe County, Indiana. Appendix H Financial Declaration Dissolution
3
Floyd County Superior Court. Local Family Rules of Practice – LR22-FR00-302
4
Indiana Judicial Branch. Indiana Judicial Branch: Statewide E-filing
5
Indiana Judicial Branch. Odyssey Case Management System
6
Indiana General Assembly. Indiana Code 31-15-7-5 – Presumption for Equal Division of Marital Property