The Indiana Supreme Court handed down the decision of In Re The Marriage of Bingley on September 29, 2010. In this decision, the Supreme Court reversed the Indiana Court of Appeals’ decision. Mr. Bingley was a retiree who, as an employee benefit, received his health insurance paid for by his prior employer. His wife argued that this was an asset that should be valued and that the court should divide the assets based upon the value of the benefit. The Indiana Supreme Court ruled in a case of first impression that the insurance provided is an intangible asset that should be valued and discussed 3 possible ways of valuing the asset.
This decision can have wide ranging impact on divorces of parties especially those of parties who are later in life or who have vested rights through their employment.