Indiana Asset Protection Summary 

Homestead Exemption

Indiana’s Homestead exemption is $7,500 for an individual and $15,000 jointly. (IC 34-55-10-2(c)(1))  To view this statute, please click here.

This exemption is not available if the owner has voluntarily granted a lien on the property or if there has levy or sale on execution or final process from a court.  (IC 34-55-10-2(e)(1)(2))  To view this statute, please click here.

Life Insurance and Annuities

Life insurance and life annuity contracts are exempt unless there is a provision stating otherwise.  Premiums paid within 1 year of filing bankruptcy or with intent to defraud creditors are not exempt.  (IC 27-2-5-1)  To see this statute, please click here.

Policy proceeds and avails are exempt to the extent they are directed to benefit the insured’s, spouse, children, or other relative dependent.  To see this statute, please click here.

IRA

ERISA qualified plans are exempt.  (IC 34-55-10-2(g))  To see this statute, please click here.

Health Savings Accounts

Money in Medicare savings accounts established under IC 6-8-11.  (IC 34-10-55-2(7))  To see this statute, please click here.

Corporate Protection

Charging Order

A debtor-partner’s interest is subject to a charging order; when a charging order is issued the judgment creditor become an assignee of the debtor-partner’s interest only to the extent of distributions until the debt is satisfied.  This order in no way affects the debtor-partner’s interest regarding his right to the partnership interest, management, or administration of partnership business or affairs.  (IC 23-4-1-27)  To see this statute, please click here.  (IC 23-4-1-28)  To see this statute, please click here.

Business Acts

1.        Indiana Corporate Act

a.        To view this statute, please click here.

2.        Indiana Limited Partnership Act

a.        To view this statute, please click here.

3.        Indiana Limited Liability Company Act

a.        To view this statute, please click here.

The Asset Protection Society makes every attempt to keep the material on its web-pages up to date and accurate. Having said that, The APS does not warrant the material on this site and you should ALWAYS seek out the advice of a local advisor in your state who can give you individual advice for your particular situation and confirm the status of your state laws.