Sec. 1. This chapter applies to the compromise of a contest or controversy with respect to the following: (1) The construction, validity, or effect of a trust instrument. (2) The identity, rights, or interests of a beneficiary of a trust. (3) The administration of a trust. As added by P.L.200-1991, SEC.6.
Sec. 10. If the court enters an order under section 9 of this chapter, all further disposition of the trust that is within the scope of the agreement shall be made under the terms of the agreement. As added by P.L.200-1991, SEC.6.
Sec. 2. A compromise executed under this chapter is binding on all parties to the compromise, including a party represented by a guardian or guardian ad litem. As added by P.L.200-1991, SEC.6.
Sec. 3. A compromise executed under this chapter does not impair the rights of creditors or taxing authorities that are not parties to the compromise. As added by P.L.200-1991, SEC.6.
Sec. 4. The court may appoint a guardian or a guardian ad litem to represent the following persons or interests in a compromise executed under this chapter if the persons or interests do not have a guardian or guardian ad litem: (1) A minor. (2) A person who is without legal capacity to personally act. […]
Sec. 5. IC 29-1-1-20 applies to the appointment of a guardian or guardian ad litem under section 4 of this chapter. As added by P.L.200-1991, SEC.6.
Sec. 6. The terms of a compromise executed under this chapter must be set forth in an agreement that is: (1) in writing; and (2) executed by all persons or the guardians or guardians ad litem appointed under section 4 of this chapter of all persons who: (A) have an interest in the trust; or […]
Sec. 7. After a compromise is executed, an interested person may docket the trust and submit the following documents to the court for the court’s approval: (1) The agreement executed under section 6 of this chapter. (2) A copy of the trust instrument. (3) Any other relevant documents. As added by P.L.200-1991, SEC.6.
Sec. 8. After notice has been given in the manner directed by the court to: (1) all interested persons; (2) the guardians or guardians ad litem of interested persons; (3) the personal representative of an estate affected by the agreement; and (4) the trustee of a trust affected by the agreement; the court shall hold […]
Sec. 9. If the court finds: (1) the contest or controversy is in good faith; and (2) the effect of the agreement on the interests of all the parties is just and reasonable; the court shall enter an order approving the agreement submitted under section 7 of this chapter and directing the trustee and the […]
