Terry Legal Group, LLC

What happens to the family home in a high-asset Indiana divorce

2026-02-06T03:09:23Z

Dividing the family home can affect your financial future in a high-asset divorce. In Indiana, courts decide what happens to the home based on equitable distribution and how the property fits within the total marital estate.

How Indiana law treats the family home

Indiana courts usually treat the family home as marital property even when one spouse owned it before the marriage. According to Indiana Code § 31-15-7-4, courts apply a “one-pot” theory of property division. This means all assets owned by either spouse, regardless of when or how they were acquired, are placed into a single pool for division. Courts start with the assumption that an equal division is fair. A spouse can challenge that assumption by showing that a different division better reflects the facts of the marriage.

Factors that can influence who keeps the home

In high-asset divorces, the family home often represents a large portion of marital wealth. Courts focus on fairness rather than name-based ownership. Judges may consider several factors, including:

Child-related stability: Whether one parent keeping the home supports a stable living environment.
Economic circumstances: Each spouse’s income, assets and ability to cover ongoing expenses.
Contributions to the property: Financial or nonfinancial efforts that increased the home’s value.
Separate property claims: Whether one spouse owned the home before marriage or received it as a gift or inheritance.

These factors help explain why outcomes differ from case to case. Even when courts begin with an equal division, one spouse may keep the home while the other receives other assets to balance the distribution.

Common ways high-value homes are divided

After courts include the home in the marital estate, spouses usually consider several practical options. Common approaches include:

Selling the home: The spouses sell the property and divide the proceeds.
Buyout by one spouse: One spouse keeps the home by refinancing or trading other marital assets.
Asset trade-offs: One spouse takes the home while the other receives investments, retirement accounts or other real estate.

Once spouses choose an option, tax exposure, access to cash and long-term affordability often drive negotiations.

Why legal guidance matters in high-asset cases

Because Indiana law gives judges broad discretion, the way evidence is presented can significantly affect the outcome. Working with an experienced attorney can help you understand how the law applies to your situation and how different options may affect your long-term stability.

What are the benefits of a revocable living trust?

2026-05-21T10:59:48Z

While owning a valid will is an important aspect of life, it is not the only type of estate planning tool that can help safeguard your loved ones' future inheritance. When you establish a revocable living trust (RLT), you can keep your wealth private and streamline your asset distribution process. To help provide a deeper understanding of this topic, here are three key benefits of a revocable living trust:

You can avoid probate

When you pass away, your estate will go through a legal administration process known as probate. Since probate hearings are open to the public, it can be a source of stress and tension for your grieving family and close relatives. Additionally, if you own a large estate, your probate case is bound to become more complex in comparison to those with smaller estates. This means that your estate administration may turn costly and lengthy. When you have a RLT, you help skip probate for most of your assets and property. This is because the assets that you place on a RLT have assigned beneficiaries to them.

You can protect yourself in case you become incapacitated

A RLT provides you with the opportunity to appoint a “successor trustee” in case you become incapacitated in the future. This means that if you become physically or mentally incapable of managing your affairs, the person you choose as your successor can oversee your trust’s directives on your behalf. One of their major responsibilities as your successor trustee involves notifying your beneficiaries and other related parties about your health status and how your RLT is being managed.

You can update your RLT’s contents

While an irrevocable living trust cannot be changed or revoked upon establishment, your RLT can be. This empowers you to be in control of your revocable living trust's contents over your lifetime. With the guidance of an estate planning attorney, you can update your list of beneficiaries, reselect your appointed trustee/s and change your asset distribution terms.

With a RLT, you help safeguard your future

By gaining insight into what makes a revocable living trust beneficial, you can weigh your options better. This step can help you devise a plan that can align with your personal goals and your family’s needs the best.

Choose the best structure for your new small business

2025-09-04T19:07:08Z

If you're beginning to start a new small business, your mind is probably focused on your products or services, your potential customers and the various logistics of getting your company off the ground. These are all important topics, and it is perfectly understandable that you should be preoccupied with them. However, it's also important for you to take some time to make sure you get the fundamentals right, and choose the business structure that suits your company's needs. In this blog post, we will take a brief look at the most common legal structures for business entities.

Sole proprietorship and general partnership

The most straightforward business structures recognized by Indiana law are the sole proprietorship and the general partnership. These are considered informal because they do not require filing paperwork with the Indiana Secretary of State's office. The definition of a sole proprietorship is simple: One person who owns and operates a business for profit. The definition of a partnership is similarly simple: Two or more people who own and operate a business for profit. The simplicity of these structures has its advantages, but, compared to more formal structures, they have some serious potential downsides. Most notably, the owner of one these businesses is held liable for all the business' debts. The business' income is reported as the owner's personal income. While these businesses do not necessarily have to register with the state, it's wise for the co-owners of a general partnership to write up an agreement between the partners in order to formalize their rights and responsibilities.

Formal entities

Owners who would like more protection for their personal finances can choose a structure such as a Limited Liability Company (LLC) or a corporation. These types of business require registration with the state. Compared to the informal structures, LLCs offer greater distance between the owners' finances and those of the business itself. The company's income is taxed separately from the owners' personal income, and the owners are protected to some degree from the company's debts and other liabilities. It's wise for the co-owners of LLCs to have an operating agreement in place. This is similar to an agreement in a general partnership. Those who desire even more protection for their personal finances may consider a corporation. Under this structure, the business is owned by shareholders, who are protected from liability from the corporation's debts. Compared to the other entity types, the great disadvantage of corporations is their complexity. Setting up a corporation requires registering articles of incorporation with the state, along with ongoing reporting responsibilities and more.

How can people protect retirement savings when they divorce?

2025-05-23T11:49:36Z

Divorce proceedings may drastically alter an individual's financial circumstances. The expenses that they previously shared with a spouse now become their sole responsibility. Additionally, they have to cover the costs generated by divorce, including court costs and fees for legal representation. They also have to divide their property and their financial obligations with their spouses. Frequently, people feel anxious about protecting specific resources when they divorce. For many people, retirement savings are on the short list of priority resources to protect during divorce proceedings. Retirement savings help people cover basic cost of living expenses when they no longer work full-time. Losing those savings could be a major financial setback. How can people protect their retirement resources as they prepare for divorce?

Settling outside of court

The most effective means of preserving specific assets during divorce is to negotiate with a spouse instead of litigating. Someone intent on preserving their retirement savings can achieve that goal by making compromises in other aspects of the property division process. Spouses who amicably settle property division matters do not have to worry about dividing their assets directly when they divorce.

Using the right tools

People don't just need to worry about how they divide their retirement savings. They also have to consider the possibility of losing some of those savings due to penalties and taxes. Premature withdrawals from tax-deferred retirement savings accounts, such as 401(k)s, can trigger a 10% penalty. Additionally, the account holder has to claim the amount withdrawn as income and pay taxes on that amount. Having a lawyer draft a qualified domestic relations order (QDRO) can preserve retirement savings by eliminating penalties and tax consequences. Spouses can divide the account without diminishing the balance unnecessarily or creating tax complications. Each spouse receives a portion of the savings and can use that as a nest egg for rebuilding their retirement resources. In some cases, people can preserve a portion of their retirement savings by reviewing account records. Deposits made prior to marriage or after legal separation may remain the separate property of one spouse. Retirement accounts are often an important consideration when couples prepare for divorce. Evaluating personal holdings and priorities with a skilled legal team could help people prepare for upcoming divorce proceedings.

What is probate, and why is it necessary?

2025-02-25T08:52:08Z

Probate is the legal process that occurs when a person passes away. It is a lengthy and often expensive court-supervised procedure that oversees the distribution of assets, settlement of debts and carrying out of a deceased person’s wishes. The thought of going through probate can be daunting, but it serves an important purpose in estate administration. This process, although often painted in a bad light, provides a structured approach to settling a person’s affairs, protecting the rights of beneficiaries and creditors alike. Whether you are facing the prospect of probate or simply beginning your estate planning journey, understanding the basics of probate can help you make informed decisions for the future.

Is probate necessary if I have a will?

A will does not automatically transfer ownership of your assets to your beneficiaries. Instead, it serves as a guide for the court during the probate process. Upon your passing, your will becomes a public document, which the court will use to oversee the distribution of your estate. Probate with a will typically involves several key players. Your designated executor will be responsible for gathering your assets, paying off debts and taxes and distributing what remains to your beneficiaries, as outlined in your will.

What does dying intestate mean?

When a person dies without a valid will in place, Indiana’s intestate succession laws will have to step in. This means the court will determine who inherits your property based on state law. For instance, if you are married with a family of your own, your spouse and children will likely share your assets. During this process, it will appoint an administrator to manage your assets. This person will work under the court’s supervision, ensuring the fair and lawful settlement of your estate.

Is probate avoidable?

While probate is often necessary, there are several strategies you can use to bypass it, at least partially. One common method is to create a living trust. You can also use beneficiary designations on certain assets, including retirement accounts, life insurance policies and bank accounts. Ultimately, the best approach depends on your circumstances, the nature of your assets and estate planning goals.

Who qualifies for spousal maintenance in Indiana?

2024-11-22T20:51:48Z

Spousal maintenance, also called spousal support, is a complex topic in Indiana. It is a court-ordered payment from one ex-spouse to another. Yet, Indiana’s approach to spousal maintenance differs significantly from other states.

When can you get spousal maintenance?

Indiana does not use marriage length or standard alimony factors to determine payments. Instead, courts focus on specific circumstances. These include:

Mental or physical incapacity: if one spouse cannot work due to health issues, they must prove this with medical evidence. The court may then order maintenance.
Caring for an incapacitated child: a custodial parent of a mentally or physically incapacitated child may qualify. They must show that their property and income are insufficient for their needs and the child’s care.

These cases rely heavily on evidence presented in court. Consulting with an experienced attorney can help you gather and present the necessary proof to support your claim.

What is rehabilitative maintenance?

Indiana offers limited spousal support to help a spouse rebuild their financial independence. Rehabilitative maintenance applies when a spouse paused their education or career to manage homemaking or childcare. The court will consider:

The spouse’s education level now and at the time of marriage.
The spouse’s earning potential and job market absence.
How much time the spouse needs to gain skills or education for employment.

This support lasts a maximum of three years. Courts may reduce the term if they believe the spouse can re-enter the workforce sooner.

Can spousal maintenance be changed?

Either party can request changes to a spousal maintenance order. To do so, they must show:

A major change in circumstances that makes the order unfair.
A child support adjustment from over a year ago that is significantly different from current guidelines.

Indiana’s spousal maintenance laws are strict, making it essential to understand your rights and options. If you are facing divorce or legal separation, consult an experienced attorney to guide you through the process.

Helping your teen during a difficult divorce

2024-08-26T13:39:03Z

Divorce can be a challenging time for anyone, especially children and teenagers. Parents of teenagers having a hard time processing these circumstances should know how they can support their older kids to get through this time and continue to thrive.

Open dialogue

Encourage open communication with your child by letting them know their voices are welcome. Tell them it is okay to express their feelings, creating a safe conversation space without judgment.

Acknowledge their emotions

Your teenager may feel anger, frustration and other feelings that, when expressed, may make you feel uncomfortable. However, it is critical that you, as a parent, provide them with an opportunity to talk about their feelings safely without being punished.

Keep their routines

Children and teenagers thrive on routines because they provide them with the stability they need, so making an effort to minimize day-to-day change can go a long way in supporting your teen.

Seek a professional for help

If you or your teenager are struggling to cope with any aspect of the divorce, contact a professional who can help. Many resources are available for families going through a divorce. Divorce is a challenging and complex time for families, and teenagers often present unique challenges because of their ages. Supporting them by allowing them to communicate openly, speaking with them honestly and doing what you can to maintain a thriving environment can help support them during this difficult time.

Determining blame in a multi-car accident

2024-05-24T19:49:04Z

Understanding fault after a two-car accident can often be straightforward. Often, one driver is totally responsible due to speeding, driving drunk or some other negligence, while the other driver was following the rules and acting carefully. The crash would not have happened if not for the obviously negligent party. However, when an incident involves three or more vehicles, assigning responsibility can become much more complex. What if two of the drivers were negligent? Or did all three motorists contribute in at least some small way? For car accident victims in Hamilton County, Indiana, this complexity can be overwhelming, especially when trying to recover from the event itself.

The process of determining fault

Assigning blame for a pileup generally begins with the police report. The officer who comes to the scene and investigates plays a crucial role by being a neutral party offering a theory of what happened based on their trained observations. Later, your personal injury attorney can fill in any gaps with their own investigation.

Insurance companies and fault determination

Insurance companies are also active in investigating multi-car accidents. An adjuster is assigned to the case to collect further information and make a decision on the claims. The at-fault driver's insurance is typically expected to cover the damages, subject to the terms of their policy. In situations where a driver lacks insurance, they would be responsible for covering the costs themselves. The level of coverage each driver has will affect your strategy for recovering damages.

Comparative negligence in multi-car accidents

It is not unusual for more than one person to contribute to the conditions that lead to a major multi-vehicle wreck. This does not mean you cannot seek damages if you were hurt in a car accident just because you were partly at fault. Indiana employs a modified comparative negligence rule, which can impact compensation in a multi-car crash. As long as you are less than 50 percent responsible for the crash, you can receive damages. What you get is reduced by your percentage of fault. For example, let's say you get into a crash and suffer $100,000 worth of damages. You sue and the jury finds the defendants were 75 percent liable and you were 25 percent responsible. You would receive $75,000 in damages.

Seeking professional advice

In the event of a multi-car pileup, it is advisable for those affected to consult with a personal injury lawyer. Legal guidance can be invaluable in understanding rights to compensation and navigating the complexities of multi-car accident claims in Hamilton County. A lawyer can help clarify the intricacies of the law and ensure that victims receive the support they need during such trying times.

A parent’s mental health and child custody decisions

2024-02-15T18:00:50Z

When couples split up, one of the most important decisions they make is the custody of the children. If one parent suffers from a mental health condition, things can become complicated, especially if the divorce is not amicable. First, courts encourage parents to work things out on their own. However, if someone brings up the mental health of a parent as a concern, the court must investigate it to ensure the safety of the children.

The role of the court in custody decisions

The court is not out to take kids away from their parents. This is an important point that divorcing couples must understand. The role of the court is to ensure the stability, safety and happiness of the child and that whatever custody arrangement the parents end up having is the best arrangement possible for the child. Having a mental health issue does not automatically mean a parent cannot take care of their child or provide for them. However, the parent who lives with a mental health condition must show the court that they are indeed capable of handling the day-to-day responsibilities and challenges that come with parenting.

Parents and mental illness

If a parent suffers from a mental health condition, the court may:

Ask to see the parent's medical records
Want to speak with the parent’s treating physician
Want to confirm they are under treatment
Need to ensure that the treatment is working
Make sure the parent is adhering to the treatment

In addition, the court may ask an independent psychological specialist to interview and evaluate to determine whether the parent is stable and thus capable of providing for the needs of the child.

Commonality of mental illness

Mental health is a broad term that can mean a lot of things. The percentage of people living with mental illness in the United States is also staggering. One in five Americans lives with a mental health condition. It is common and the courts understand this. However, if the parent is not treating their mental health condition and that is negatively affecting the child, the court may intervene and decide that the child should live primarily with the other parent. Still, the parent who has mental health challenges could very well have extensive visitation and, if they treat their condition, they can ask the court to change that order later. In other words, the court looks at the entire picture before deciding and even then, parents can always ask the court to reassess.

Safety topics to address when traveling for the holidays

2023-12-05T15:12:27Z

The holiday season is a time in which many individuals might have plans to load up the vehicle and travel to spend time with family members and friends. As you prepare to head out on Indiana roads to visit loved ones, it might not be easy to predict the types of safety concerns you might encounter along the way.

The holiday season can bring various types of safety risks for drivers, and collisions that occur during this time could do far worse than merely setting your travel plans behind. Understanding some vital safety topics to consider during this season could help you find ways to mitigate crash risks and help you reach your destinations safely.

Holiday safety topics

Being involved in a collision while traveling for the holidays can be devastating, and knowing what types of issues you might encounter could be vital to staving off such an outcome. A brief list of holiday safety concerns might include:

High traffic volume: This season could bring significant increases in traffic congestion, and knowing what types of hazards might accompany such concerns could be vital to finding ways to promote safety.
Adverse weather: Prior to heading out on the open road, it may also be vital to check road and weather conditions, as journeying during times of adverse weather might not be the safest choice.
Driver fatigue: Many drivers may be preparing to endure long stints on the road, and the presence of similar factors could also increase your risk of encountering fatigued drivers.
Driver inattention: Distracted driving may also be an issue to consider, as those out driving during this season may have numerous things on their minds and might not always fully focus on the task at hand.

With a multitude of individuals out celebrating for the holidays, there may also be a greater risk of encountering an impaired driver. The presence of such behavior could increase crash risks significantly.

When the unimaginable occurs

Regardless of how it happens, being involved in a collision during the holidays can be a harrowing experience. The outcome of the incident may not only derail your holiday travel plans, but it could also leave you with severe or life-altering injuries and facing a host of financial hardships. While facing similar trials can be daunting enough as is, the fallout of your crash may prove even more challenging to accept if it stems from the reckless actions of another driver.