30-4-2.1-1. Construction
Sec. 1. In the absence of a contrary intent appearing in the trust, a trust shall be construed in accordance with the rules in this chapter. As added by P.L.4-2003, SEC.7.
30-4-2.1-11. Written Statement or List Disposing of Tangible Personal Property
Sec. 11. (a) A written statement or list that: (1) complies with this section; and (2) is referred to in a settlor’s trust that was revocable during the settlor’s lifetime; may be used to dispose of items of tangible personal property, other than property used in a trade or business, not otherwise specifically disposed of […]
30-4-2.1-11.1. Trust Referencing Writing; Effect to Be Given to Writing
Sec. 11.1. Except as provided in section 11 of this chapter, if a trust refers to a writing of any kind, the referenced writing, whether subsequently amended or revoked, as it existed at the time of the execution of the trust, shall be given the same effect as if set forth at length in the […]
30-4-2.1-12. Order of Abatement; Other Rules Governing Abatement
Sec. 12. (a) If a trust is terminated or partially terminated and the available trust property is not sufficient to fully satisfy the interests of all beneficiaries, the interests must be abated in the following order: (1) The interests that would be characterized as residuary devises if the trust were a will. (2) The interests […]
30-4-2.1-13. Repealed
As added by P.L.6-2010, SEC.13. Repealed by P.L.149-2012, SEC.12.
30-4-2.1-14. Rules of Interpretation Concerning Discretionary Interests
Sec. 14. (a) The following rules apply only to discretionary interests (as defined in section 14.5 of this chapter): (1) A discretionary interest is a mere expectancy that is neither a property interest nor an enforceable right. (2) A creditor may not: (A) require a trustee to exercise the trustee’s discretion to make a distribution; […]
30-4-2.1-14.5. “Discretionary Interest”; Rules of Construction
Sec. 14.5. (a) As used in this section and section 14 of this chapter, “discretionary interest” refers to any interest over which the trustee has any discretion to make or withhold a distribution. (b) A discretionary interest may be evidenced by permissive language such as “may make distributions” or may be evidenced by mandatory distribution […]
30-4-2.1-15. Rules of Interpretation Concerning a Beneficiary’s Influence Over a Trust
Sec. 15. If a party challenges a settlor or a beneficiary’s influence over a trust, none of the following factors, alone or in combination, may be considered dominion and control over a trust: (1) A beneficiary serving as a trustee or co-trustee. (2) The settlor or beneficiary holds an unrestricted power to remove or replace […]
30-4-2.1-16. Rules of Interpretation Concerning a Trustee’s Independence From the Settlor
Sec. 16. Absent clear and convincing evidence otherwise, a settlor of an irrevocable trust may not be considered the alter ego of a trustee. The following factors, alone or in combination, are not sufficient evidence to conclude that the settlor controls a trustee or is the alter ego of the trustee: (1) Any combination of […]
30-4-2.1-17. Limits on Creditors of Beneficiaries Who May Replace or Remove a Trustee or Who Are Also Trustees or Co-Trustees
Sec. 17. (a) A creditor may not reach, exercise, or otherwise acquire an interest of a beneficiary or any other person who holds an unconditional or conditional removal or replacement power over a trustee. A power described in this subsection is personal to a beneficiary or other person and may not be exercised by the […]
30-4-2.1-2. Adopted Children
Sec. 2. (a) Except as provided in subsection (b), in construing a trust naming as beneficiary a person described by relationship to the settlor or to another, a person adopted before: (1) the person is twenty-one (21) years of age; and (2) the death of the settlor; shall be considered the child of the adopting […]
30-4-2.1-3. No Contest Provision Enforceable; Exceptions
Sec. 3. (a) Except as provided in subsection (b), a no contest provision is enforceable according to the express terms of the no contest provision. (b) Subsection (a) does not apply to the following proceedings: (1) An action brought by a beneficiary if good cause is found by a court. (2) An action brought by […]
30-4-2.1-4. Children Born After Trust’s Creation
Sec. 4. (a) Except as provided in subsection (b) and section 5 of this chapter, when a settlor fails to provide in the settlor’s trust for a child who is: (1) born or adopted after the making of the settlor’s trust; and (2) born before or after the settlor’s death; the child is entitled to […]
30-4-2.1-5. Mistaken Belief That Settlor’s Child Deceased
Sec. 5. (a) Except as provided in subsection (b), if, at the time of the making of the trust, the settlor: (1) believes a child of the settlor to be dead; and (2) fails to provide for the child in the settlor’s trust; the child is entitled to receive a share in the trust assets. […]
30-4-2.1-6. Void, Revoked, or Lapsed Devise
Sec. 6. If a devise of real or personal property, not included in the residuary clause of the trust: (1) is void; (2) is revoked; or (3) lapses; the devise becomes a part of the residue and passes to the residuary beneficiary. As added by P.L.4-2003, SEC.7.
30-4-2.1-7. Beneficiary Predeceases Settlor
Sec. 7. (a) As used in this section, “descendant” includes the following: (1) A child adopted before the child is twenty-one (21) years of age by: (A) the settlor; or (B) the settlor’s descendants. (2) A descendant of a child adopted as set forth in subdivision (1). (3) A child who is born of the […]
30-4-2.1-8. Kindred of the Half Blood
Sec. 8. Kindred of the half blood are entitled to receive the same trust interest that they would have received if they had been of the whole blood. As added by P.L.4-2003, SEC.7.
30-4-2.1-9. Applicability of Adultery and Abandonment Forfeiture Provisions
Sec. 9. A trust of a deceased spouse is subject to the following: (1) IC 29-1-2-14. (2) IC 29-1-2-15. As added by P.L.238-2005, SEC.28.