US Lawyer Database

30-4-10-57. Liability Against Property of a First Trust

Sec. 57. A debt, liability, or other obligation enforceable against property of a first trust is enforceable to the same extent against the property when held by the second trust after exercise of the decanting power. As added by P.L.161-2022, SEC.3.

30-4-10-58. Uniformity of the Law

Sec. 58. In applying and construing this uniform act, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it. As added by P.L.161-2022, SEC.3.

30-4-10-28. “Settlor”

Sec. 28. (a) As used in this chapter, except as provided in section 55 of this chapter, “settlor” has the meaning set forth in IC 30-4-1-2(21). (b) If more than one (1) person creates or contributes property to a trust, each person is a settlor of the portion of the trust property attributable to the […]

30-4-10-44. Determinable Charitable Interest; Authority of the Attorney General

Sec. 44. (a) As used in this section, “determinable charitable interest” means a charitable interest that is a right to a mandatory distribution currently, periodically, on the occurrence of a specified event, or after the passage of a specified time and that is unconditional or will be held solely for charitable purposes. (b) As used […]

30-4-10-29. “Sign”

Sec. 29. As used in this chapter, “sign” means with present intent to authenticate or adopt a record to: (1) execute or adopt a tangible symbol; or (2) attach to or logically associate with the record of an electronic symbol, sound, or process. As added by P.L.161-2022, SEC.3.

30-4-10-45. First-Trust Instrument Restriction on Decanting Power

Sec. 45. (a) An authorized fiduciary may not exercise the decanting power to the extent the first-trust instrument expressly prohibits exercise of: (1) the decanting power; or (2) a power granted by state law to the fiduciary to distribute part or all of the principal of the trust to another trust or to modify the […]

30-4-10-30. “State”

Sec. 30. As used in this chapter, “state” means: (1) a state of the United States; (2) the District of Columbia; (3) Puerto Rico; (4) the United States Virgin Islands; or (5) a territory or insular possession subject to the jurisdiction of the United States. As added by P.L.161-2022, SEC.3.

30-4-10-46. Compensation of Authorized Fiduciary

Sec. 46. (a) If a first-trust instrument specifies an authorized fiduciary’s compensation, the fiduciary may not exercise the decanting power to increase the fiduciary’s compensation above the specified compensation unless: (1) all qualified beneficiaries of the second trust consent to the increase in a signed record; or (2) the increase is approved by the court. […]