30-4-3-24.4. Modification or Termination of Trust by Court
Sec. 24.4. (a) The court may modify the administrative or dispositive terms of a trust if, because of circumstances not anticipated by the settlor, modification or termination will further the purposes of the trust. To the extent practicable, the modification must be made in accordance with the settlor’s probable intention. (b) The court may modify […]
30-4-3-24.5. Termination by Trustee of Trust With Value Less Than $75,000
Sec. 24.5. (a) This section does not apply to an easement for conservation or preservation. (b) This subsection applies to a trust consisting of trust property having a total value of less than seventy-five thousand dollars ($75,000). Unless the terms of the trust provide otherwise, the trustee may terminate the trust: (1) if the trustee […]
30-4-3-25. Rescission and Reformation
Sec. 25. (Recission and Reformation) Upon petition by an interested party, the court may rescind or reform a trust according to the same general rules applying to recission or reformation of non-trust transfers of property. Formerly: Acts 1971, P.L.416, SEC.4.
30-4-3-25.5. Distribution of Terminated Trust; Payment of Federal and State Taxes
Sec. 25.5. (a) This section applies beginning October 1, 2009. (b) Except as provided in subsection (d), when a trust created to comply with 42 U.S.C. 1396p(d)(4)(A) is terminated, the trustee shall not distribute trust property to any person entitled to payment from the trust until the office of Medicaid policy and planning has been […]
30-4-3-26. Power to Direct a Deviation From the Terms of the Trust
Sec. 26. (Power to Direct a Deviation from the Terms of the Trust) (a) Upon petition by the trustee or a beneficiary, the court shall direct or permit the trustee to deviate from a term of the trust if, owing to circumstances not known to the settlor and not anticipated by him, compliance would defeat […]
30-4-3-27. Cy Pres Doctrine
Sec. 27. (a) If property is given to a trust for a benevolent public purpose and the property is to be applied to a particular charitable purpose, and it is or becomes impossible, impracticable, wasteful, or illegal to carry out the particular purpose, and if the settlor manifested a more general intention to devote the […]
30-4-3-15. Remedies of Trustee Against Third Persons
Sec. 15. (Remedies of the Trustee against Third Persons) The trustee may maintain in his representative capacity a civil action for any legal or equitable remedy against a third person that he could maintain in his own right if he were the owner. Formerly: Acts 1971, P.L.416, SEC.4.
30-4-3-28. Repealed
Formerly: Acts 1971, P.L.416, SEC.4. Repealed by P.L.238-2005, SEC.63.
30-4-3-3. Powers of Trustees
Sec. 3. (a) Except as provided in the terms of the trust and subject to subsection (c), a trustee has the power to perform without court authorization, except as provided in sections 4(b) and 5(a) of this chapter, every act necessary or appropriate for the purposes of the trust including, by way of illustration and […]
30-4-3-3.2. Perpetual Care Fund Trusts; Trustee Withdrawals
Sec. 3.2. The trustee of a trust established as the perpetual care fund of a cemetery under IC 23-14-48-2 may, under IC 23-14-48-2.2, without court authorization, withdraw from the trust the amounts allowed by IC 23-14-48-2 to pay the cost of perpetual care of the cemetery, notwithstanding any provision in the terms of the trust […]