Monday, April 28, 2014

Divorce Division of Lotto Millions

From USA Today:

A man who won $2 million in the Hoosier Lottery while separated from his wife has to give her only 2.5% of the winnings, the Indiana Court of Appeals ruled Wednesday.

...

Judges in "separate property" states may divide assets "in any manner that is just and reasonable, and that determination depends on the facts of the case," said Margaret Ryznar, a professor at the Indiana University Robert H. McKinney School of Law in Indianapolis.

"Often the court will divide marital assets in a proportion resembling 50-50, but there is room for departure depending on the court's judgment," she explained.

"Here, the departure is not surprising given that the husband and wife were living entirely separate lives by the time of the lotto winnings. Thus, while this is an interesting case to see how an Indiana court would divide lotto winnings in an estranged marriage, the result may differ in the next case depending on the facts of that marriage."

Read more here.

MR

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