Sec. 1. (a) A trust is a fiduciary relationship between a person who, as trustee, holds title to property and another person for whom, as beneficiary, the title is held. (b) Subject to IC 30-4-2-8, the same person may be both the trustee and a beneficiary. (c) The rules of law contained in this article […]
Sec. 1.5. This article does not repeal: (1) IC 30-2-4 (the Uniform Fiduciaries Act); or (2) IC 30-2-5 (the Uniform Act for the Simplification of Fiduciary Security Transfers). As added by P.L.1-1989, SEC.60.
Sec. 10. If a distribution in favor of “descendants”, “issue”, or “heirs of the body” does not specify the manner in which the property is to be distributed among the class members, the property is distributed among the class members who are living when the distribution is to take effect in possession or enjoyment, in […]
Sec. 11. The meaning and legal effect of a distribution under a trust shall be determined by the law of the state selected by the settlor in the trust, unless the application of that law is contrary to the public policy of this state. As added by P.L.252-2001, SEC.33.
Sec. 12. In construing a trust making a distribution to a person described by relationship to the settlor or to another person, a person born out of wedlock shall be considered the child of the person’s mother. If the right of a person born out of wedlock to inherit from the person’s father is established […]
Sec. 13. IC 29-1-2-12.1 applies to a trust. As added by P.L.238-2005, SEC.20.
Sec. 2. As used in this article: (1) “Adult” means any person eighteen (18) years of age or older. (2) “Affiliate” means a parent, descendant, spouse, spouse of a descendant, brother, sister, spouse of a brother or sister, employee, director, officer, partner, joint venturer, a corporation subject to common control with the trustee, a shareholder, […]
Sec. 3. (Application and Interpretation of the Rules of Law and the Terms of the Trust) The rules of law contained in this article shall be interpreted and applied to the terms of the trust so as to implement the intent of the settlor and the purposes of the trust. If the rules of law […]
Sec. 4. (a) Except as provided elsewhere in this article, the rules of law contained in this article shall apply to all trusts created prior to September 2, 1971, unless to do so would: (1) adversely affect a right given to any beneficiary; (2) give a right to any beneficiary which the beneficiary was not […]
Sec. 5. (Construction of Pronouns) A pronoun used in this article may be construed, unless the context requires otherwise, without regard to gender or whether the person or thing to which it refers is animate or inanimate. Formerly: Acts 1971, P.L.416, SEC.2.
Sec. 6. (Construction of Singular Number) Any word appearing in the singular number in this article may be construed as plural, unless the context requires otherwise. Formerly: Acts 1971, P.L.416, SEC.2.
Sec. 7. The report of the Trust Code Study Commission made according to IC 2-5-11 (repealed) may be consulted by the courts to determine the reasons, purpose and policies of this article, and may be used as a guide to its construction and application. Formerly: Acts 1971, P.L.416, SEC.2. As amended by P.L.1-2009, SEC.153.
Sec. 8. If a trust creating a power of appointment expressly requires that the power be exercised by a reference, an express reference, or a specific reference to the power or its source, it is presumed that the settlor’s intention, in requiring that the grantee exercise the power by making reference to the particular power […]
Sec. 9. A trust shall not operate as to the exercise of a power of appointment, which the settlor may have with respect to any real or personal property, unless by its terms the trust specifically indicates that the settlor intended to exercise the power. As added by P.L.252-2001, SEC.31.
