Business litigation and family law partner Drew Soshnick authored an article for Indiana Lawyer titled “Marital property in Indiana: What words to trust?” addressing the question of whether a spouse’s interest in a trust is marital property under Indiana law.
Soshnick explains the lack of guidance on the topic, which leads to disputes over what is included in or out of marital estates, and if in, at what value.
He highlights the Indiana Supreme Court’s ruling in Loeb v. Loeb in 1973, different statutes added or repealed to the Indiana Code regarding the definition of marital property, and the 2017 decision in Harrison v. Harrison, where the court affirmed Loeb.
The article also notes how Harrison raises the question of how trust interests are valued. He suggests that a good start would be to take the words and passages from Loeb and compile them into a subsequent opinion, a statutory amendment, or both.
The full article is available to Indiana Lawyer subscribers.