Statistics indicate that farmers tend to divorce less frequently than their nonfarming counterparts. In fact, those who own an agricultural operation go through divorce proceedings about a third less often than individuals who work in other occupations. Still, if you are thinking about leaving your spouse, you should realize that farmers may face unique challenges during divorce proceedings.
In Indiana, judges divide property based on what is equitable. When divorcing your spouse, you may either reach a settlement agreement or ask a court to divvy up marital property. As a farmer, though, either option presents some hurdles you must overcome.
Valuing the farm
As you may suspect, it can be somewhat difficult to determine how much your farm is worth. The farm’s location, type, output and other factors weigh heavily in its overall valuation. Also, crops in the ground, farm equipment and livestock add to the value of property. When going through a divorce, it may be helpful to work with an experienced farm appraiser to better understand the value of your agricultural operation.
Co-parenting your children
If you have children, you likely must deal with both custody and visitation during your divorce. While your legal standing may not differ much from that of city dwellers, your rural residence may present some challenges. That is, if either you or your spouse decides to relocate, you may have to draft a unique visitation schedule that meets everyone’s needs.
Accounting for bankruptcy
Recent tariffs and other economic factors have made life difficult for many farmers. While filing for Chapter 12 bankruptcy protection may be a good way to manage outstanding debts, your bankruptcy filing may affect your divorce. If you are thinking about separating from your spouse, you should understand the role your bankruptcy may play in dividing marital assets.
Any married person has a significant number of things to consider when deciding to divorce his or her spouse. As a farmer, though, you may face additional challenges. With some information and a bit of hard work, though, you can likely find an acceptable end to your marriage.