30-4-10-54. Reference to Trust Instrument or Terms of Trust Instrument
Sec. 54. A reference in this article to a trust instrument or terms of the trust includes a second-trust instrument and the terms of the second trust. As added by P.L.161-2022, SEC.3.
30-4-10-55. Decanting Power of a Settlor of a First Trust; Settlor Intent of Second Trust
Sec. 55. (a) For purposes of law of this state other than this chapter and subject to subsection (b), a settlor of a first trust is deemed to be the settlor of the second trust with respect to the portion of the principal of the first trust subject to the exercise of the decanting power. […]
30-4-10-56. Property Discovered After Distribution of the First Trust
Sec. 56. (a) Except as provided in subsection (c), if exercise of the decanting power was intended to distribute all of the principal of the first trust to one (1) or more second trusts, later discovered property belonging to the first trust and property paid to or acquired by the first trust after the exercise […]
30-4-10-41. Exercise of Decanting Power and Distributive Discretion; Limitations; General or Nongeneral Appointment
Sec. 41. (a) As used in this section, “noncontingent right” means a right that is not subject to the: (1) exercise of discretion; or (2) occurrence of a specified event that is not certain to occur. The term does not include a right held by a beneficiary if any person has discretion to distribute property […]
30-4-10-42. Limited Distributive Discretion
Sec. 42. (a) As used in this section, “limited distributive discretion” means a discretionary power of distribution that is limited to an ascertainable standard or a reasonably definite standard. (b) An authorized fiduciary that has limited distributive discretion over the principal of the first trust for the benefit of one (1) or more current beneficiaries […]
30-4-10-43. Beneficiary With a Disability
Sec. 43. (a) This section applies to any trust that has a beneficiary with a disability, without limitation, whenever a special-needs fiduciary for the trust determines that the beneficiary with a disability may qualify for governmental benefits based on a disability, whether the beneficiary currently receives those benefits or has been adjudicated to be an […]
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 […]