USA – INDIANA Trends and Developments Contributed by: Drew Soshnick, Faegre Drinker Biddle & Reath, LLP
and enterprise goodwill (a marital asset under Indiana law), discounts for lack of marketability, discounts for lack of control, risk assessments, and capitalisation rates will take on new and greater importance. Accordingly, the opportuni - ties for business litigation between people when relationships are ending has become much more frequent. The need for sophisticated divorce counsel is as never before and will continue to expand as Indiana’s economy continues to embrace the digital age. As with the changes in its economy, Indiana’s population is evolving. In particular, more cou - ples are eschewing marriage and are cohabiting. Since the late 1970s, Indiana has addressed the property rights of cohabitants through case law. Only joint property is divided between cohabit - ants and the laws of divorce do not apply. That can lead to vigorous disputes over what to divide and what is the appropriate division of property. This topic has not been top of mind for legis - lators, but some wonder whether there should be more formal rules for property division when cohabitants end their relationship – particularly with the dearth and non-application of spousal maintenance laws. This issue is unlikely to rise to the forefront, but could become of interest on the basis of supply and demand.
Indiana also has enacted some of the strictest laws in the USA in relation to abortion. Those restrictions are solidified by the Dobbs decision from the US Supreme Court but may continue to be challenged by different theories. These laws may attract to or deter certain businesses from Indiana. At the present time, Indiana’s economy is strong and diversified with low taxes. (Indiana consist - ently is ranked as one of the best states for busi- nesses.) These competing considerations and the ultimate outcome may impact the quantity of high net worth matrimonial actions in Indiana. Finally, while general statistics suggest that Indi - ana’s population is at the lower end of states in terms of education, those statistics are deceiv - ing. There is a mountain of family wealth that passes from generation to generation through farms, businesses, and personal holdings. That wealth is augmented by the conversion of Indiana’s economy and attraction of profit - able investments. Indiana’s high net worth base continues to expand exponentially and, in times of marital distress, provides one of the most complex and compelling issues for resolution in divorce cases. That trend is likely to continue long into the future.
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