32-17-14-16. Changing or Revoking a Beneficiary Designation
Sec. 16. (a) A beneficiary designation may be revoked or changed during the lifetime of the owner. (b) A revocation or change of a beneficiary designation involving property owned as tenants by the entirety must be made with the agreement of both tenants for so long as both tenants are alive. After an individual dies […]
32-17-14-17. Powers of an Attorney in Fact, a Guardian, a Conservator, or an Agent
Sec. 17. (a) An attorney in fact, guardian, conservator, or other agent acting on the behalf of the owner of property may make, revoke, or change a beneficiary designation if: (1) the action complies with the terms of this chapter and any other applicable law; and (2) the action is not expressly forbidden by the […]
32-17-14-18. Lost, Destroyed, Damaged, or Involuntarily Converted Property Subject to a Beneficiary Designation
Sec. 18. If property subject to a beneficiary designation is lost, destroyed, damaged, or involuntarily converted during the owner’s lifetime, the beneficiary succeeds to any right with respect to the loss, destruction, damage, or involuntary conversion that the owner would have had if the owner had survived. However, the beneficiary has no interest in any […]
32-17-14-19. Effect of Conveyances, Assignments, Contracts, Set Offs, Licenses, Easements, Liens, and Security Interests
Sec. 19. (a) A beneficiary of a transfer on death transfer takes the owner’s interest in the property at the death of the owner subject to all conveyances, assignments, contracts, set offs, licenses, easements, liens, and security interests made by the owner or to which the owner was subject during the owner’s lifetime. (b) A […]
32-17-14-20. Beneficiary Required to Survive the Owner
Sec. 20. An individual who is a beneficiary of a transfer on death transfer is not entitled to a transfer unless the individual: (1) survives the owner; and (2) survives the owner by the time, if any, required by the terms of the beneficiary designation. As added by P.L.143-2009, SEC.41.
32-17-14-21. Trusts as Designated Beneficiaries
Sec. 21. (a) A trustee of a trust may be a designated beneficiary regardless of whether the trust is amendable, revocable, irrevocable, funded, unfunded, or amended after the designation is made. (b) Unless a beneficiary designation provides otherwise, a trust that is revoked or terminated before the death of the owner is considered nonexistent at […]
32-17-14-22. Substitution for Designated Beneficiaries Who Do Not Survive the Owner
Sec. 22. (a) Notwithstanding sections 9 and 20 of this chapter, a designated beneficiary’s rights under this chapter are not extinguished when the designated beneficiary does not survive the owner if: (1) subsection (b) applies in the case of a designated beneficiary who is a lineal descendant of the owner; or (2) subsection (d) applies […]
32-17-14-23. Effect of Dissolution or Annulment
Sec. 23. (a) If, after an owner makes a beneficiary designation, the owner’s marriage is dissolved or annulled, any provision of the beneficiary designation in favor of the owner’s former spouse is revoked on the date the marriage is dissolved or annulled. Revocation under this subsection is effective regardless of whether the beneficiary designation refers […]
32-17-14-24. Fraud, Duress, Undue Influence, Mistake, or Lack of Capacity
Sec. 24. (a) A beneficiary designation or a revocation of a beneficiary designation that is procured by fraud, duress, undue influence, or mistake or because the owner lacked capacity is void. (b) A beneficiary designation made under this chapter is subject to IC 29-1-2-12.1. As added by P.L.143-2009, SEC.41.
32-17-14-25. Rights of Surviving Spouses and Children
Sec. 25. (a) In accordance with IC 32-17-13, a transfer on death transfer may be subject to the payment of the surviving spouse and family allowances under IC 29-1-4-1. (b) A beneficiary designation designating the children of the owner or children of any other person as a class and not by name includes all children […]