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 […]
30-4-2.1-1. 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.
30-4-2.1-16. 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 […]
30-4-2.1-2. 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 […]