Indiana

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The information given on this page is for educational and informational purposes only, and does not constitute any legal or tax advice or opinion. This page is meant to give a quick start to research by other professionals, but it should absolutely not be relied upon for any purposes whatsoever. Additionally, this page is kept current only as our time allows, and the information given here may not be current. We make NO GUARANTEES as to the accuracy of the information herein and you should not rely on it. Even professionals who use this information must independently verify whether it is correct and current.

Nothing in the information given below should imply that the drafters of this webpage are admitted to practice law in the referenced state or have any special expertise in the areas listed. Nothing herein should be construed as a solicitation by the drafters of this website to practice law in the referenced state. Persons desiring planning should contact a licensed attorney or other appropriate planning professional in this state. Certainly, nothing herein is any substitute for the services, advice, or counsel of a properly licensed attorney in the relevant state!

Indiana Asset Protection Overview

Indiana has opted out of the federal bankruptcy exemptions. Indiana debtors must use the state bankruptcy exemptions. Very little protection is afforded to homestead, but some protection is afforded to properly structured life insurance arrangements.

Indiana Statutory Creditor Exemptions

For additional detailed information on the use of life insurance, annuities, pension plans, and employee benefit plans for wealth preservation and asset protection, see advanced life insurance

Indiana Homestead

• The homestead exemption limit in Indiana is $7,500.

Statute

• The homestead plus any personal property may not exceed $10,000.

Statute

Indiana Life Insurance

• Policy is protected from creditors of owner if owner's spouse, children, relative dependent, or creditor is the beneficiary. [IC27-1-12-14]

  Statute

• If contract provides a spendthrift provision, benefits payable to person other than person effecting policy are wholly exempt from creditors. However, if the beneficiary is the spouse or child of the owner, and the premium is paid to defraud creditors, then there is no exemption. If named beneficiary is spouse, children, or any relative dependent upon such owner, proceeds are protected from claims of the creditors of insured person or of the person's spouse. [IC 27-2-5-1]

  Statute
  

Indiana IRAs & Pension Plans

• IRAs are exempt.

Statute

• Public employees pension plans are exempt.

Statute

Indiana Fraudulent Transfers

For additional detailed information relating to fraudulent transfers, including the text of the Uniform Fraudulent Transfers Act, see fraudulent transfers

Indiana Fraudulent Transfer Act

• Indiana Fraudulent Transfers Act

Indiana Fraudulent Transfer Cases

Federal Circuit Court

• DFS Secured Healthcare Receivables Trusts
  v. Caregivers Great Lakes Inc.,
  No. 03-1086 (7th Cir. 09/13/2004)

State Appellate Court

• Fire Police City County Federal Credit Union v. Eagle,
  771 N.E.2d 1188 (Ind.App. 07/22/2002)

• Greenfield v. Arden Seven Penn Partners, L.P.,
  757 N.E.2d 699 (Ind.App. 10/31/2001)

• Indianapolis Indiana Aamco Dealers Advertising Pool v. Anderson,
  746 N.E.2d 383 (Ind.App. 04/09/2001)

• Medical and Professional Collection Services, Inc. v. Bush,
  734 N.E.2d 626 (Ind.App. 08/28/2000)

• Garza v. Lorch,
  705 N.E.2d 468 (Ind.App. 12/29/1998)

• Patrick Stuard v. Jackson & Wickliff Auctioneers
  1996.IN.404 (Ind.App. 10/02/1996)

• Sara M. Diss. v. Agri Business International, Inc.
  1996.IN.306 (Ind.App. 08/30/1996)

• Ervin G. Otte et al. v. Ralph M. Otte and Geraldine Otte
  655 N.E.2d 76 (Ind.App. 08/29/1995)

• Darlus Johnson v. Estate Jean Rayburn
  587 N.E.2d 182 (Ind.App. 03/05/1992)

• Laporte Production Credit Assoc. v. Oben A. Kalwitz Sr. et al.
  567 N.E.2d 1202 (Ind.App. 03/21/1991)

• C. W. Jackson v. George E. Russell
  533 N.E.2d 153 (Ind.App. 01/17/1989)

• Michael Desmond Jackson v. Farmers State Bank
  481 N.E.2d 395 (Ind.App. 08/05/1985)

• Mildred C. Russell v. Ronald J. Walz et al.
  458 N.E.2d 1172 (Ind.App. 01/26/1984)

• Marriage Sharon Mae Huth and Richard L. Huth
  437 N.E.2d 1042 (Ind.App. 07/27/1982)

• Bernard Coak v. Erma J. Rebber (COAK)
  425 N.E.2d 197 (Ind.App. 08/31/1981)

• James Kourllas v. Roland O. Hawkins et ux.
  287 N.E.2d 764 (Ind.App. 10/04/1972)

Indiana Trusts

For additional detailed information relating to the use of trusts for asset protection, including foreign and domestic asset protection trusts, see trusts.

Indiana Trust Act (Non Self-Settled)

• Indiana Trust Act

Indiana Business Entities

Indiana Acts

• Indiana Corporation Act
• Indiana Limited Partnership Act
• Indiana Limited Liability Company Act

Indiana Charging Order Cases

• William J. Brant, Jr., et al. v. Robert R. Krilich
  835 N.E.2d 582 (Ind.App. 10/14/2005)

Indiana Alter Ego & Corporate Veil Cases

• Lydia Escobedo, et al v. BHM Health Associates,
  798 N.E.2d 220 (Ind. 10/29/2003)

• Mart v. Natare Corp.,
  742 N.E.2d 15 (Ind.App. 12/29/2000)

• Hinds v. McNair et al.
  129 N.E.2d 553 (Ind. 10/26/1955)

Useful Indiana Links

For additional detailed information relating to financial frauds and tax scams, see http://www.quatloos.com

• Indiana Secretary of State
• Indiana Attorney General
• Indiana Securities Division
• Indiana Bar Association

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