Ind. Code § 30-4-3-6 — Indiana Code / Title 30 / Article 4 / Chapter 3 / Section 30-4-3-6
Duties of trustee
Status: in_force

Sec. 6. (a) The trustee has a duty to administer a trust according to the terms of the trust.

(b) Unless the terms of the trust or the provisions of section 1.3 of this chapter provide otherwise, the trustee also has a duty to do the following:

(1) Administer the trust in a manner consistent with IC 30-4-3.5.

(2) Take possession of and maintain control over the trust property.

(3) Preserve the trust property.

(4) Make the trust property productive for both the income and remainder beneficiary. As used in this subdivision, "productive" includes the production of income or investment for potential appreciation.

(5) Keep the trust property separate from the trustee's individual property and separate from or clearly identifiable from property subject to another trust.

(6) Maintain clear and accurate accounts with respect to the trust estate.

(7) Except as provided in subsection (c), keep the following beneficiaries reasonably informed about the administration of the trust and of the material facts necessary for the beneficiaries to protect their interests:

(A) A current income beneficiary.

(B) A beneficiary who will become an income beneficiary upon the expiration of the term of the current income beneficiary, if the trust has become irrevocable by:

(i) the terms of the trust instrument; or

(ii) the death of the settlor.

A trustee satisfies the requirements of this subdivision by providing a beneficiary described in clause (A) or (B), upon the beneficiary's written request, access to the trust's accounting and financial records concerning the administration of trust property and the administration of the trust.

(8) Upon:

(A) the trust becoming irrevocable:

(i) by the terms of the trust instrument; or

(ii) by the death of the settlor; and

(B) the written request of an income beneficiary or remainderman;

promptly provide a copy of the complete trust instrument to the income beneficiary or remainderman. This subdivision does not prohibit the terms of the trust from requiring the trustee to separately provide each beneficiary only the portions of the trust instrument that describe or pertain to that beneficiary's interest in the trust and the administrative provisions of the trust instrument that pertain to all beneficiaries of the trust.

(9) Take whatever action is reasonable to realize on claims constituting part of the trust property.

(10) Defend actions involving the trust estate.

(11) Supervise any person to whom authority has been delegated.

(12) Determine the trust beneficiaries by acting on information:

(A) the trustee, by reasonable inquiry, considers reliable; and

(B) with respect to heirship, relationship, survivorship, or any other issue relative to determining a trust beneficiary.

(c) The terms of a trust may expand, restrict, eliminate, or otherwise vary the right of a beneficiary to be informed of the beneficiary's interest in a trust for a period of time, including a period of time related to:

(1) the age of the beneficiary;

(2) the lifetime of a settlor or the spouse of a settlor;

(3) a term of years or a period of time ending on a specific date; or

(4) a specific event that is certain to occur.

(d) During any period of time that the trust instrument restricts or eliminates the right of a beneficiary to be informed of the beneficiary's interest in a trust, a designated representative for the beneficiary:

(1) shall represent that beneficiary and bind that beneficiary's interests for purposes of any judicial proceeding or nonjudicial matter involving the trust unless the court finds, after a hearing upon notice, that a conflict of interest exists between the beneficiary and the designated representative;

(2) has the authority to initiate or defend and participate in any proceeding relating to the trust under this article or under IC 30-2 on behalf of the beneficiary; and

(3) shall not disclose to the beneficiary the information provided by the trustee unless the court orders disclosure or the trustee agrees to the disclosure.

An alleged conflict of interest between a beneficiary and the beneficiary's designated representative may be asserted to the court by the beneficiary whose right to be informed of the beneficiary's interest in a trust is restricted or eliminated in the trust instrument or by any other person authorized to represent and bind that beneficiary's interest under IC 30-4-6-10.5.

(e) If:

(1) a beneficiary is an adult and has not been adjudicated to be an incapacitated person;

(2) the trust instrument restricts or eliminates the right of the beneficiary to be informed of the beneficiary's interest in a trust; and

(3) the beneficiary discovers material information about the beneficiary's interest in the trust from sources other than the trustee;

subsections (c) and (d) do not prohibit the beneficiary from demanding or petitioning for an accounting or statement regarding the trust under IC 30-4-5-12(c), from receiving a copy of all relevant portions of the trust instrument, or from demanding and receiving, under subsection (b)(7), other information about the trust and its administration that is consistent with the content and scope of the information that the beneficiary received from sources other than the trustee. The beneficiary may also initiate and participate in any proceeding against or with the trustee under this chapter.

Formerly: Acts 1971, P.L.416, SEC.4. As amended by P.L.198-1996, SEC.1; P.L.137-1999, SEC.2; P.L.238-2005, SEC.32; P.L.51-2014, SEC.21; P.L.83-2014, SEC.8; P.L.5-2015, SEC.63; P.L.221-2019, SEC.3; P.L.231-2019, SEC.24; P.L.56-2020, SEC.10; P.L.99-2024, SEC.15.
Ind. Code § 30-4-6-14 — Indiana Code / Title 30 / Article 4 / Chapter 6 / Section 30-4-6-14
Contesting validity of revocable or irrevocable trust; time limits; notice requirements; petition
Status: in_force

Sec. 14. (a) A person must commence a judicial proceeding to contest the validity of a trust that is irrevocable or revocable at the settlor's death, or revocable at the time the notice under this section is given, within the earlier of the following:

(1) Ninety (90) days after the person receives from the trustee, the settlor, or the agent of the trustee or settlor, a copy of a trust certification required by IC 30-4-4-5 and a notice that:

(A) informs the person of the trust's existence;

(B) states the trustee's name and address;

(C) states:

(i) the person's interest in the trust, as described in the trust document; or

(ii) that the person has no interest in the trust; and

(D) states the time allowed for commencing the proceeding.

(2) Three (3) years after the settlor's death.

(b) If a notice under subsection (a) pertains to a trust created by a settlor who is still living, the settlor, the trustee, or the agent of the settlor or trustee must send a complete copy of the trust instrument for that trust with the notice to each person to whom the notice under subsection (a) is sent.

(c) More than one hundred twenty (120) days after the death of the settlor of a trust that was revocable at the settlor's death, the trustee may distribute the trust property in accordance with the terms of the trust. The trustee is not subject to liability for the distribution unless:

(1) the trustee knows of a pending judicial proceeding contesting the validity of the trust; or

(2) a potential contestant notifies the trustee of a possible judicial proceeding to contest the trust and a judicial proceeding is commenced not later than sixty (60) days after the contestant sends the trustee the notification.

(d) A beneficiary of a trust that is determined to be invalid shall return any distribution received.

(e) The complaint or petition for a proceeding filed under subsection (a) must name all of the following, if they exist or are living, as party defendants:

(1) The settlor.

(2) The settlor's spouse.

(3) Each qualified beneficiary identified by name or discernable as part of a class identified in the trust instrument.

(4) The currently serving trustee or first priority successor trustee identified in the trust instrument.

(5) Any other person who received a notice under subsection (a).

(f) Notice of the filing of a complaint or petition under subsection (a) must be served upon each party defendant as required by the Indiana Rules of Trial Procedure.

(g) The burden of proving an allegation set forth in a complaint or petition that is filed under subsection (a) is on the person who commenced the proceeding.

(h) The failure of a trustee to adhere to the requirements of this section may not be offered or cited as evidence that a trust is not valid.

(i) If a notice sent under subsection (a) is concerning a revocable or irrevocable trust and the trust is later:

(1) amended;

(2) restated; or

(3) lawfully modified;

a person who received the written notice is not precluded from commencing a proceeding to contest the validity of the amended, restated, or modified trust.

As added by P.L.238-2005, SEC.46. Amended by P.L.51-2014, SEC.26; P.L.38-2023, SEC.18.
Ind. Code § 30-2-15-16 — Indiana Code / Title 30 / Article 2 / Chapter 15 / Section 30-2-15-16
Unitrust amount; initial two years of trust
Status: in_force

Sec. 16. For the first two (2) years of the trust or the first two (2) years after the conversion to a total return unitrust under this chapter, the unitrust amount for a current valuation year of the trust must be the product of the unitrust rate multiplied by the net fair market values of the assets held in the trust on the first business day of the current valuation year.

As added by P.L.3-2003, SEC.2.
Ind. Code § 30-2-8.5-8 — Indiana Code / Title 30 / Article 2 / Chapter 8.5 / Section 30-2-8.5-8
"Legal representative" defined
Status: in_force

Sec. 8. As used in this chapter, "legal representative" means an individual's personal representative or guardian.

As added by P.L.267-1989, SEC.2.
Ind. Code § 30-4-5-15 — Indiana Code / Title 30 / Article 4 / Chapter 5 / Section 30-4-5-15
Judgment; fees
Status: in_force

Sec. 15. (Judgment; Fees)

(a) Subject to the right of appeal, a judgment rendered by the court under 30-4-5-14, either approving the statement or disapproving it and surcharging the trustee, is final, conclusive and binding upon all the parties to the action who are subject to the jurisdiction of the court.

(b) Entry of the judgment by the court finally disposes of the matter and the clerk may not tax or charge a service fee for any year beyond that in which the judgment is rendered.

Formerly: Acts 1971, P.L.416, SEC.6.
Ind. Code § 30-1-9-5 — Indiana Code / Title 30 / Article 1 / Chapter 9 / Section 30-1-9-5
Repealed
Status: repealed

Formerly: Acts 1852, 1RS, c.113, s.5. Repealed by Acts 1971, P.L.416, SEC.8.
Ind. Code § 30-2-8.5-40 — Indiana Code / Title 30 / Article 2 / Chapter 8.5 / Section 30-2-8.5-40
Written election concerning custodial property
Status: in_force

Sec. 40. (a) If a transferor:

(1) has transferred property to a custodian for the benefit of a minor before July 1, 1989; and

(2) has made or wishes to make further transfers of property to the same custodian for the benefit of the same minor after June 30, 1989;

the transferor shall make a written election under subsection (b) concerning the custodial property.

(b) A transferor may elect one (1) of the following:

(1) The transferor may establish a new account under this chapter for only the property transferred after June 30, 1989.

(2) The transferor may transfer the property transferred before July 1, 1989, into a new account established under this chapter and make further transfers of property into the account established under this subdivision.

(3) The transferor may transfer property after June 30, 1989, into the account established before July 1, 1989. However, any property transferred into the account after June 30, 1989, is subject to this chapter.

As added by P.L.137-1994, SEC.1.
Ind. Code § 30-2-8.6-11 — Indiana Code / Title 30 / Article 2 / Chapter 8.6 / Section 30-2-8.6-11
"Legal representative"
Status: in_force

Sec. 11. As used in this chapter, "legal representative" means a personal representative or guardian.

As added by P.L.3-2003, SEC.1.
Ind. Code § 30-2-8.6-34 — Indiana Code / Title 30 / Article 2 / Chapter 8.6 / Section 30-2-8.6-34
Compensation of custodial trustee
Status: in_force

Sec. 34. Except as otherwise provided in the instrument creating the custodial trust, in an agreement with the beneficiary, or by court order, a custodial trustee:

(1) is entitled to reimbursement from custodial trust property for reasonable expenses incurred in the performance of fiduciary services;

(2) has a noncumulative election, to be made not later than six (6) months after the end of each calendar year, to charge a reasonable compensation for fiduciary services performed during that year; and

(3) need not furnish a bond or other security for the faithful performance of fiduciary duties.

As added by P.L.3-2003, SEC.1.
Ind. Code § 30-5-8-8 — Indiana Code / Title 30 / Article 5 / Chapter 8 / Section 30-5-8-8
Attorney in fact; signature format; recording requirement
Status: in_force

Sec. 8. (a) This section applies to an instrument executed under this article by an attorney in fact on a principal's behalf.

(b) As used in this section, "agent" has the same meaning as "attorney in fact" as defined in IC 30-5-2-2.

(c) A principal's power of attorney may authorize an attorney in fact to execute an instrument on the principal's behalf if a statement appears:

(1) above;

(2) beside; or

(3) below;

the attorney in fact's signature.

(d) A statement under subsection (c) must:

(1) identify the principal; and

(2) indicate that the attorney in fact is acting as the principal's agent under the power of attorney.

(e) Any of the following example signature formats comply with this section and indicate that the attorney in fact is acting as the principal's agent under the power of attorney:

(1) Attorney in fact's signature

(Principal's name) by (attorney in fact's name), agent

(2) Principal's signature signed by the attorney in fact

(Principal's name) by (attorney in fact's name), POA

(3) Attorney in fact's signature

(Principal's name) by (attorney in fact's name), AIF

(4) Principal's printed name

Attorney in fact's signature

By: (Attorney in fact's name), as attorney in fact

(5) Principal's printed name

Attorney in fact's signature

By: (Attorney in fact's name), agent

(6) Principal's printed name

Attorney in fact's signature

By: (Attorney in fact's name), POA

(7) Principal's printed name

Attorney in fact's signature

By: (Attorney in fact's name), AIF

The examples listed in this subsection are not an exhaustive list.

(f) If an attorney in fact executes a deed or other instrument that must be recorded in the office of a county recorder, the instrument may incorporate by reference part or all of the principal's power of attorney that was previously recorded under IC 30-5-3-3.

As added by P.L.99-2024, SEC.18.
Ind. Code § 30-2-6-1 — Indiana Code / Title 30 / Article 2 / Chapter 6 / Section 30-2-6-1
Contributions; self-employment retirement fund
Status: in_force

Sec. 1. Either:

(1) a trust created by an employer as part of a stock bonus, pension, disability, death benefit, or profit-sharing plan for the benefit of some or all of his employees, to which contributions are made by the employer or employees, or both, for the purpose of distributing to the employees the earnings or principal, or both earnings and principal, of the fund held in trust; or

(2) a retirement fund or trust which at any time is tax exempt under the provisions of the Internal Revenue Code and to which contributions are made by self-employed persons or qualified individuals for the purpose of providing pension or other benefits for themselves or their beneficiaries;

may continue in perpetuity or for such time as may be necessary to accomplish the purpose for which such trust is created and shall not be invalid as violating any law against perpetuities or suspension of the power of alienation of the title to property.

Formerly: Acts 1949, c.184, s.1; Acts 1953, c.253, s.1. As amended by P.L.2-1987, SEC.45.
Ind. Code § 30-2-13-16 — Indiana Code / Title 30 / Article 2 / Chapter 13 / Section 30-2-13-16
Sale, consolidation, merger, disposal, or lease of assets in bulk; designation of successor
Status: in_force

Sec. 16. (a) Except for sales of stock or merchandise in the ordinary course of the seller's business, a seller who has deposited money or an insurance policy under section 12 or 12.5 of this chapter may not:

(1) sell, consolidate, merge, or dispose of assets; or

(2) lease the seller's business, facilities, or assets;

without providing, as an integral part of the transaction or occurrence, for the designation of a successor seller of the money or insurance policy placed in trust. For purposes of this section, a change in control determines the seller's obligation.

(b) If a seller acting as a trustee of an insurance policy fails to designate a qualified successor seller, the board shall make the designation. However, the designated successor must be willing to accept the designation.

(c) This section does not restrict a purchaser's right to designate a new seller in accordance with section 13 of this chapter.

As added by P.L.200-1991, SEC.1. Amended by P.L.241-1995, SEC.11; P.L.114-1999, SEC.13.
Ind. Code § 30-4-9-1 — Indiana Code / Title 30 / Article 4 / Chapter 9 / Section 30-4-9-1
Short title
Status: in_force

Sec. 1. This chapter may be cited as the Uniform Directed Trust Act.

As added by P.L.221-2019, SEC.10.
Ind. Code § 30-4-3-24 — Indiana Code / Title 30 / Article 4 / Chapter 3 / Section 30-4-3-24
Repealed
Status: repealed

Formerly: Acts 1971, P.L.416, SEC.4. Repealed by P.L.238-2005, SEC.63.
Ind. Code § 30-5-2-2.3 — Indiana Code / Title 30 / Article 5 / Chapter 2 / Section 30-5-2-2.3
"Catalogue of electronic communications"
Status: in_force

Sec. 2.3. "Catalogue of electronic communications" has the meaning set forth in IC 32-39-1-5.

As added by P.L.137-2016, SEC.9.
Ind. Code § 30-4-3.5-1 — Indiana Code / Title 30 / Article 4 / Chapter 3.5 / Section 30-4-3.5-1
Compliance with prudent investor rule
Status: in_force

Sec. 1. (a) Except as otherwise provided in subsection (b), a trustee who invests and manages trust assets owes a duty to the beneficiaries of the trust to comply with the prudent investor rule set forth in this chapter.

(b) The prudent investor rule, a default rule, may be expanded, restricted, eliminated, or otherwise altered by the provisions of a trust. A trustee is not liable to a beneficiary to the extent that the trustee acted in reasonable reliance on the provision of the trust.

(c) This chapter applies to a trustee or escrow agent, acting as fiduciary, of:

(1) a perpetual care fund established under IC 23-14-48-2;

(2) a prepaid funeral plan or funeral trust established under IC 30-2-9;

(3) a funeral trust established under IC 30-2-10; or

(4) a trust or escrow account created from payments of funeral, burial services, or merchandise in advance of need, as described in IC 30-2-13.

As added by P.L.137-1999, SEC.3. Amended by P.L.61-2008, SEC.14; P.L.33-2019, SEC.14.
Ind. Code § 30-5-8-3 — Indiana Code / Title 30 / Article 5 / Chapter 8 / Section 30-5-8-3
Signature of attorney in fact as attestation; conclusive proof
Status: in_force

Sec. 3. A signature of the attorney in fact that identifies the principal and the attorney in fact, or a similar written disclosure, is an attestation and is conclusive proof to a party relying on the attestation, except a party with actual knowledge that the attestation is false, that:

(1) the principal was competent at the time the power of attorney was executed;

(2) the attorney in fact does not have actual knowledge of the termination of the power of attorney;

(3) in the case of a successor attorney in fact, the original attorney in fact has failed or ceased to serve, and the successor attorney in fact is empowered to act on behalf of the principal; and

(4) if the effective date of the power of attorney begins upon the occurrence of a certain event, the event has occurred and the attorney in fact is able to act under the power of attorney.

As added by P.L.149-1991, SEC.2.
Ind. Code § 30-4-10-29 — Indiana Code / Title 30 / Article 4 / Chapter 10 / Section 30-4-10-29
"Sign"
Status: in_force

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.
Ind. Code § 30-4-5-9 — Indiana Code / Title 30 / Article 4 / Chapter 5 / Section 30-4-5-9
Repealed
Status: repealed

Formerly: Acts 1971, P.L.416, SEC.6. Repealed by P.L.84-2002, SEC.11.
Ind. Code § 30-1-8-7 — Indiana Code / Title 30 / Article 1 / Chapter 8 / Section 30-1-8-7
Common trust funds for funds held by other bank, trust company, or affiliate as fiduciary
Status: in_force

Sec. 7. Any:

(1) Indiana bank or trust company; or

(2) national bank qualified to act as fiduciary and whose principal place of business is in Indiana;

may establish and maintain one (1) or more common trust funds in accordance with section 2 of this chapter for the funds held by the bank or trust company or any other bank or trust company, including an affiliate, in its capacity as administrator, executor, guardian, or trustee under will or trust agreement.

Formerly: Acts 1973, P.L.292, SEC.1. As amended by P.L.280-1987, SEC.4; P.L.238-2005, SEC.16.
Ind. Code § 30-2-8.6-38 — Indiana Code / Title 30 / Article 2 / Chapter 8.6 / Section 30-2-8.6-38
Creating a custodial trust
Status: in_force

Sec. 38. (a) If a transaction, including a declaration with respect to or a transfer of specific property, otherwise satisfies applicable law, the criteria of section 18 of this chapter are satisfied by either of the following:

(1) The execution and either delivery to the custodial trustee or recording of an instrument in substantially the following form:

TRANSFER UNDER THE

INDIANA UNIFORM CUSTODIAL TRUST ACT

I, _______________ (name of transferor or name and representative capacity if a fiduciary), transfer to _______________ (name of trustee other than transferor), as custodial trustee for _______________ (name of beneficiary) as beneficiary and ______________ as distributee on termination of the trust in absence of direction by the beneficiary under the Indiana uniform custodial trust act, the following: (insert a description of the custodial trust property legally sufficient to identify and transfer each item of property).

Dated: _______________________

______________________________

(Signature)

(2) The execution and the recording or giving notice of its execution to the beneficiary of an instrument in substantially the following form:

DECLARATION OF TRUST UNDER THE

INDIANA UNIFORM CUSTODIAL TRUST ACT

I, _______________ (name of owner of property), declare that henceforth I hold as custodial trustee for _______________ (name of beneficiary other than transferor) as beneficiary and _______________ as distributee on termination of the trust in absence of direction by the beneficiary under the Indiana uniform custodial trust act, the following: (Insert a description of the custodial trust property legally sufficient to identify and transfer each item of property).

Dated: _______________________

______________________________

(Signature)

(b) Customary methods of transferring or evidencing ownership of property may be used to create a custodial trust, including any of the following:

(1) Registration of a security in the name of:

(A) a trust company;

(B) an adult other than the transferor; or

(C) the transferor if the beneficiary is other than the transferor;

designated in substance "as custodial trustee for _______________ (name of beneficiary) under the Indiana uniform custodial trust act".

(2) Delivery of:

(A) a certificated security, or a document necessary for the transfer of an uncertificated security; and

(B) any necessary endorsement;

to an adult other than the transferor or to a trust company as custodial trustee, accompanied by an instrument in substantially the form prescribed in subsection (a)(1).

(3) Payment of money or transfer of a security held in the name of a broker or a financial institution or its nominee to a broker or financial institution for credit to an account in the name of:

(A) a trust company;

(B) an adult other than the transferor; or

(C) the transferor if the beneficiary is other than the transferor;

designated in substance: "as custodial trustee for _______________ (name of beneficiary) under the Indiana uniform custodial trust act".

(4) Registration of ownership of a life or endowment insurance policy or annuity contract with the issuer in the name of:

(A) a trust company;

(B) an adult other than the transferor; or

(C) the transferor if the beneficiary is other than the transferor;

designated in substance: "as custodial trustee for _______________ (name of beneficiary) under the Indiana uniform custodial trust act".

(5) Delivery of a written assignment to:

(A) an adult other than the transferor; or

(B) a trust company;

whose name in the assignment is designated in substance by the words: "as custodial trustee for _______________ (name of beneficiary) under the Indiana uniform custodial trust act".

(6) Irrevocable exercise of a power of appointment, pursuant to its terms, in favor of:

(A) a trust company;

(B) an adult other than the donee of the power; or

(C) the donee who holds the power if the beneficiary is other than the donee;

whose name in the appointment is designated in substance: "as custodial trustee for _______________ (name of beneficiary) under the Indiana uniform custodial trust act".

(7) Delivery of a written notification or assignment of a right to future payment under a contract to an obligor that transfers the right under the contract to:

(A) a trust company;

(B) an adult other than the transferor; or

(C) the transferor if the beneficiary is other than the transferor;

whose name in the notification or assignment is designated in substance: "as custodial trustee for _______________ (name of beneficiary) under the Indiana uniform custodial trust act".

(8) Execution, delivery, and recordation of a conveyance of an interest in real property in the name of:

(A) a trust company;

(B) an adult other than the transferor; or

(C) the transferor if the beneficiary is other than the transferor;

designated in substance: "as custodial trustee for _______________ (name of beneficiary) under the Indiana uniform custodial trust act".

(9) Issuance of a certificate of title by an agency of a state or of the United States that evidences title to tangible personal property:

(A) issued in the name of:

(i) a trust company;

(ii) an adult other than the transferor; or

(iii) the transferor if the beneficiary is other than the transferor;

designated in substance: "as custodial trustee for _______________ (name of beneficiary) under the Indiana uniform custodial trust act"; or

(B) delivered to:

(i) a trust company; or

(ii) an adult other than the transferor or endorsed by the transferor to that person;

designated in substance: "as custodial trustee for _______________ (name of beneficiary) under the Indiana uniform custodial trust act".

(10) Execution and delivery of an instrument of gift to:

(A) a trust company; or

(B) an adult other than the transferor;

designated in substance: "as custodial trustee for _______________ (name of beneficiary) under the Indiana uniform custodial trust act".

As added by P.L.3-2003, SEC.1. Amended by P.L.97-2004, SEC.103.
Ind. Code § 30-4-3-20 — Indiana Code / Title 30 / Article 4 / Chapter 3 / Section 30-4-3-20
Liability of beneficiary
Status: in_force

Sec. 20. (Liability of Beneficiary)

(a) A beneficiary is liable for loss to the trust estate if he has:

(1) misappropriated or otherwise wrongfully dealt with the trust property;

(2) expressly consented to, participated in or agreed with the trustee to be liable for a breach of trust committed by the trustee;

(3) failed to repay an advance or loan of trust funds;

(4) failed to repay a distribution or disbursement from the trust estate in excess of that to which he is entitled; or

(5) breached a contract to pay money or deliver property to the trustee to be held by the trustee as part of the trust estate.

(b) Unless the terms of the trust provide otherwise a beneficiary of a trust is liable to the extent of his interest in the trust estate for the amount of any debt owed the trust estate by him.

Formerly: Acts 1971, P.L.416, SEC.4.
Ind. Code § 30-2-8.5-16 — Indiana Code / Title 30 / Article 2 / Chapter 8.5 / Section 30-2-8.5-16
"Trust company" defined
Status: in_force

Sec. 16. As used in this chapter, "trust company" means a financial institution, corporation, or other legal entity authorized to exercise general trust powers.

As added by P.L.267-1989, SEC.2.
Ind. Code § 30-4-3-25 — Indiana Code / Title 30 / Article 4 / Chapter 3 / Section 30-4-3-25
Rescission and reformation
Status: in_force

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.
Ind. Code § 30-2-8.6-19 — Indiana Code / Title 30 / Article 2 / Chapter 8.6 / Section 30-2-8.6-19
Terminating a custodial trust
Status: in_force

Sec. 19. (a) Except as provided in subsection (b), a transferor may not terminate a custodial trust.

(b) A custodial trust may be terminated by the beneficiary if the beneficiary is not incapacitated. In order to terminate the trust, the beneficiary must deliver to the custodial trustee a writing that:

(1) is signed by the beneficiary; and

(2) declares the termination of the custodial trust.

(c) If not previously terminated, a custodial trust terminates on the death of the beneficiary.

As added by P.L.3-2003, SEC.1.
Ind. Code § 30-2-4-4 — Indiana Code / Title 30 / Article 2 / Chapter 4 / Section 30-2-4-4
Transfer of negotiable instrument by fiduciary
Status: reserved

Sec. 4. If any negotiable instrument payable or indorsed to a fiduciary as such is indorsed by the fiduciary, or if any negotiable instrument payable or indorsed to his principal is indorsed by a fiduciary empowered to indorse such instrument on behalf of his principal, the indorsee is not bound to inquire whether the fiduciary is committing a breach of his obligation as fiduciary in indorsing or delivering the instrument, and is not chargeable with notice that the fiduciary is committing a breach of his obligation as fiduciary unless he takes the instrument with actual knowledge of such breach or with knowledge of such facts that his action in taking the instrument amounts to bad faith. If, however, such instrument is transferred by the fiduciary in payment of or as security for a personal debt of the fiduciary to the actual knowledge of the creditor, or is transferred in any transaction known by the transferee to be for the personal benefit of the fiduciary, the creditor or other transferee is liable to the principal if the fiduciary, in fact commits a breach of his obligation as fiduciary in transferring the instrument.

Formerly: Acts 1927, c.17, s.4.
Ind. Code § 30-4-1.5-5 — Indiana Code / Title 30 / Article 4 / Chapter 1.5 / Section 30-4-1.5-5
Amendment of electronic inter vivos trust; restatement of electronic inter vivos trust; electronic signature
Status: in_force

Sec. 5. (a) If a settlor creates an inter vivos trust or amends or restates the trust by electronically signing an electronic trust instrument, the person named as trustee may:

(1) electronically sign the electronic record for the electronic trust instrument at or about the same time as the settlor's electronic signature;

(2) electronically sign:

(A) a separate electronic record referring to the electronic trust instrument, its date, and the name of the settlor; and

(B) a statement that explicitly accepts:

(i) the appointment as trustee; and

(ii) the trust's terms;

(3) make an ordinary signature on a complete converted copy of the electronic trust instrument in order to signify the person's acceptance of the trust's terms and the person's appointment as trustee; or

(4) make an ordinary signature on a separate written acceptance.

(b) Except as provided in subsection (d), a person named as trustee who exercises powers or performs duties under the trust is presumed to have accepted the trust.

(c) The person named as trustee may reject the trust in writing or in an electronically signed document. A person named as trustee who rejects a trust in the manner described in this subsection will incur no liability. If, after being informed of the named person's appointment as trustee, the named person does not:

(1) expressly accept the trust; or

(2) exercise powers or perform duties under the trust within a reasonable time;

the named person shall be presumed to have rejected the trust.

(d) If there is an immediate risk of damage to the trust estate, the person named as trustee may act to preserve the trust estate and will not be presumed to have accepted the trust if the named person delivers a written or electronically signed rejection, at the time of or shortly after the person acts, to:

(1) the settlor;

(2) the beneficiary; or

(3) the court having jurisdiction over the administration of the trust estate.

As added by P.L.40-2018, SEC.3.
Ind. Code § 30-2-14-1 — Indiana Code / Title 30 / Article 2 / Chapter 14 / Section 30-2-14-1
"Accounting period" defined
Status: in_force

Sec. 1. As used in this chapter, "accounting period" means a calendar year unless another twelve (12) month period is selected by a fiduciary. The term includes a portion of a calendar year or other twelve (12) month period that begins when an income interest begins or ends when an income interest ends.

As added by P.L.84-2002, SEC.2.
Ind. Code § 30-4-6-2 — Indiana Code / Title 30 / Article 4 / Chapter 6 / Section 30-4-6-2
Continuing jurisdiction
Status: in_force

Sec. 2. (Continuing Jurisdiction)

The court will have continuing jurisdiction to supervise the administration of the trust only if the settlor expressly directs in the terms of the trust that the court is to have that jurisdiction.

Formerly: Acts 1971, P.L.416, SEC.7.
Ind. Code § 30-4-3-3 — Indiana Code / Title 30 / Article 4 / Chapter 3 / Section 30-4-3-3
Powers of trustees
Status: in_force

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 not of limitation, the following powers:

(1) The power to:

(A) deal with the trust estate;

(B) buy, sell, or exchange and convey or transfer all property (real, personal, or mixed) for cash or on credit and at public or private sale with or without notice; and

(C) invest and reinvest the trust estate.

(2) The power to receive additions to the assets of the trust.

(3) The power to acquire an undivided interest in a trust asset in which the trustee, in any trust capacity, holds an undivided interest.

(4) The power to manage real property in every way, including:

(A) the adjusting of boundaries;

(B) erecting, altering, or demolishing buildings;

(C) dedicating of streets, alleys, or other public uses;

(D) subdividing;

(E) developing;

(F) obtaining vacation of plats;

(G) granting of easements and rights-of-way;

(H) partitioning;

(I) entering into party wall agreements; and

(J) obtaining title insurance for trust property.

(5) The power to:

(A) grant options concerning disposition of trust property, including the sale of covered security options; and

(B) take options for acquisition of trust property, including the purchase back of previously sold covered security options.

(6) The power to enter into a lease as lessor or lessee, with or without option to renew.

(7) The power to enter into arrangements for exploration and removal of minerals or other natural resources and enter into a pooling or unitization agreement.

(8) The power to continue the operation or management of any business or other enterprise placed in trust.

(9) The power to:

(A) borrow money, to be repaid from trust property or otherwise; and

(B) encumber, mortgage, pledge, or grant a security interest in trust property in connection with the exercise of any power.

(10) The power to:

(A) advance money for the benefit of the trust estate and for all expenses or losses sustained in the administration of the trust; and

(B) collect any money advanced, without interest or with interest, at no more than the lowest rate prevailing when advanced.

(11) The power to prosecute or defend actions, claims, or proceedings for the protection of:

(A) trust property; and

(B) the trustee in the performance of the trustee's duties.

(12) The power to:

(A) pay or contest any claim;

(B) settle a claim by or against the trust by compromise or arbitration; and

(C) abandon or release, totally or partially, any claim belonging to the trust.

(13) The power to insure the:

(A) trust estate against damage or loss; and

(B) trustee against liability with respect to third persons.

(14) The power to pay taxes, assessments, and other expenses incurred in the:

(A) acquisition, retention, and maintenance of the trust property; and

(B) administration of the trust.

(15) The power to:

(A) vote securities, in person or by a general or special proxy;

(B) hold the securities in the name of a nominee if the trustee is a corporate trustee; and

(C) effect or approve, and deposit securities in connection with, any change in the form of the corporation, including:

(i) dissolution;

(ii) liquidation;

(iii) reorganization;

(iv) acquisition; and

(v) merger.

(16) The power to employ persons, including:

(A) attorneys;

(B) accountants;

(C) investment advisors; and

(D) agents;

to advise and assist the trustee in the performance of the trustee's duties.

(17) The power to effect distribution of property in cash, in kind, or partly in cash and partly in kind, in divided or undivided interests.

(18) The power to execute and deliver all instruments necessary or appropriate to accomplishing or facilitating the exercise of the trustee's powers.

(19) With respect to an interest in a proprietorship, partnership, limited liability company, business trust, corporation, or another form of business or enterprise, the power to:

(A) continue the business or enterprise; and

(B) take any action that may be taken by shareholders, members, or property owners, including:

(i) merging;

(ii) dissolving; or

(iii) changing the form of business organization or contributing additional capital.

(20) With respect to possible liability for violation of environmental law, the power to:

(A) inspect or investigate property:

(i) the trustee holds or has been asked to hold; or

(ii) owned or operated by an organization in which the trustee holds an interest or has been asked to hold an interest;

to determine the application of environmental law with respect to the property;

(B) take action to prevent, abate, or remedy an actual or potential violation of an environmental law affecting property held directly or indirectly by the trustee before or after the assertion of a claim or the initiation of governmental enforcement;

(C) decline to accept property into the trust or disclaim any power with respect to property that is or may be burdened with liability for violation of environmental law;

(D) compromise claims against the trust that may be asserted for an alleged violation of environmental law; and

(E) pay the expense of any inspection, review, abatement, or remedial action to comply with environmental law.

(21) The power to exercise elections with respect to federal, state, and local taxes.

(22) The power to select a mode of payment under any employee benefit plan or retirement plan, annuity, or life insurance payable to the trustee and exercise rights under the plan, annuity, or insurance, including the right to:

(A) indemnification:

(i) for expenses; and

(ii) against liabilities; and

(B) take appropriate action to collect the proceeds.

(23) The power to make loans out of trust property, including loans to a beneficiary on terms and conditions the trustee determines fair and reasonable under the circumstances. The trustee has a lien on future distributions for repayment of the loans.

(24) The power to pledge trust property to guarantee loans made by others to the beneficiary on terms and conditions the trustee considers to be fair and reasonable under the circumstances. The trustee has a lien on future distributions for repayment of the loans.

(25) The power to:

(A) appoint a trustee to act in another jurisdiction with respect to trust property located in the other jurisdiction;

(B) confer on the appointed trustee all the appointing trustee's powers and duties;

(C) require the appointed trustee to furnish security; and

(D) remove the appointed trustee.

(26) With regard to a beneficiary who is under a legal disability or whom the trustee reasonably believes is incapacitated, the power to pay an amount distributable to the beneficiary by:

(A) paying the amount directly to the beneficiary;

(B) applying the amount for the beneficiary's benefit;

(C) paying the amount to the beneficiary's guardian;

(D) paying the amount to the beneficiary's custodian under IC 30-2-8.5 to create a custodianship or custodial trust;

(E) paying the amount to an adult relative or another person having legal or physical care or custody of the beneficiary to be expended on the beneficiary's behalf, if the trustee does not know of a guardian, custodian, or custodial trustee; or

(F) managing the amount as a separate fund on the beneficiary's behalf, subject to the beneficiary's continuing right to withdraw the distribution.

(27) The power to:

(A) combine at least two (2) trusts into one (1) trust; or

(B) divide one (1) trust into at least two (2) trusts;

after notice to the qualified beneficiaries, if the result does not impair the rights of any beneficiary or adversely affect achievement of the purposes of the trust.

(28) Distribute in kind, to a beneficiary, all or part of an interest in a retirement plan or retirement account that is payable to the trust.

(b) Any act under subsection (a)(4), an option under subsection (a)(5), a lease under subsection (a)(6), an arrangement under subsection (a)(7), and an encumbrance, mortgage, pledge, or security interest under subsection (a)(9) may be for a term either within or extending beyond the term of the trust.

(c) In acquiring, investing, reinvesting, exchanging, retaining, selling, and managing property for any trust, the trustee thereof shall exercise the judgment and care required by IC 30-4-3.5. Within the limitations of the foregoing standard, the trustee is authorized to acquire and retain every kind of property, real, personal, or mixed, and every kind of investment, including specifically, but without in any way limiting the generality of the foregoing, bonds, debentures, and other corporate obligations, stocks, preferred or common, and real estate mortgages, which persons of prudence, discretion, and intelligence acquire or retain for their own account, and within the limitations of the foregoing standard, the trustee is authorized to retain property properly acquired, without limitation as to time and without regard to its suitability for original purchase. Within the limitations of the foregoing standard, the trustee is authorized to sell covered security options and to purchase back previously sold covered security options.

(d) If a distribution of particular trust assets is to be made to two (2) or more beneficiaries entitled to receive fractional shares in those assets, the trustee:

(1) may distribute the particular assets without distributing to each beneficiary a pro rata share of each asset;

(2) shall distribute to each beneficiary a pro rata share of the total fair market value of all of the particular assets as of the date of distribution; and

(3) is not required to allocate and distribute particular assets based upon the potential gain or loss that the beneficiaries would realize if the particular assets were sold.

(e) If the trust is terminated or partially terminated, the trustee may send to the beneficiaries a proposal for distribution. If the proposal for distribution informs the beneficiary that the beneficiary:

(1) has a right to object to the proposed distribution; and

(2) must object not later than thirty (30) days after the proposal for distribution was sent;

the right of the beneficiary to object to the proposed distribution terminates if the beneficiary fails to notify the trustee of an objection within the time limit set forth in subdivision (2).

(f) When any real or personal property subject to a lien (as defined by IC 29-1-17-9(a)) is specifically distributable, the distributee shall take the property subject to the lien unless the terms of the trust provide expressly or by necessary implication that the lien be otherwise paid. If:

(1) an event occurs that makes the property distributable; and

(2) the holder of a lien on the property receives payment on a claim based upon the obligation secured by the lien;

the property subject to the lien shall be charged with the reimbursement to the trust of the amount of the payment for the benefit of the beneficiaries entitled to the distribution, unless the terms of the trust provide expressly or by necessary implication that the payment be charged against the residue of the trust estate.

(g) For purposes of subsection (f), a general directive or authority in the trust for payment of debts does not imply an intent that the distribution of property subject to a lien be made free from the lien.

(h) IC 32-39-2-8, IC 32-39-2-9, and IC 32-39-2-10 apply to the right of a trustee acting under a trust to access:

(1) the content of an electronic communication (as defined in IC 32-39-1-6);

(2) a catalogue of electronic communications (as defined in IC 32-39-1-5); or

(3) any other digital asset (as defined in IC 32-39-1-10).

Formerly: Acts 1971, P.L.416, SEC.4. As amended by Acts 1977, P.L.300, SEC.1; P.L.277-1983, SEC.1; P.L.137-1999, SEC.1; P.L.238-2005, SEC.31; P.L.51-2014, SEC.20; P.L.137-2016, SEC.8; P.L.99-2024, SEC.14; P.L.50-2025, SEC.7.
Ind. Code § 30-5-7-4 — Indiana Code / Title 30 / Article 5 / Chapter 7 / Section 30-5-7-4
Compliance with decision of attorney in fact; comfort care; unwillingness to comply
Status: in_force

Sec. 4. (a) A health care provider shall comply with a health care decision made by an attorney in fact under a power of attorney if the decision is communicated to the provider. A health care provider may continue to administer treatment for the principal's comfort care or the alleviation of pain in addition to treatment made under the decision of the attorney in fact.

(b) If a health care provider is unwilling to comply with a health care decision made by the attorney in fact, the provider shall do the following:

(1) Notify the attorney in fact of the provider's unwillingness to comply with the decision.

(2) Promptly take all steps necessary to transfer the responsibility for the principal's health care to another health care provider designated by the attorney in fact.

As added by P.L.149-1991, SEC.2.
Ind. Code § 30-2-14-2 — Indiana Code / Title 30 / Article 2 / Chapter 14 / Section 30-2-14-2
"Beneficiary" defined
Status: in_force

Sec. 2. As used in this chapter, "beneficiary" includes, in the case of:

(1) a decedent's estate, an heir, and a devisee; and

(2) a trust, an income beneficiary, and a remainder beneficiary.

As added by P.L.84-2002, SEC.2.
Ind. Code § 30-5-11-4 — Indiana Code / Title 30 / Article 5 / Chapter 11 / Section 30-5-11-4
Creation of electronic power of attorney
Status: in_force

Sec. 4. (a) A principal, or person acting at the principal's direction, may create a valid power of attorney by electronically signing an electronic power of attorney:

(1) in the presence of a notary; or

(2) in the presence of witnesses under sections 4.3, 4.5, 4.7, and 4.9 of this chapter.

(b) The:

(1) principal;

(2) attorney in fact under the electronic power of attorney;

(3) attorney representing the principal or attorney in fact; or

(4) other person authorized by the principal;

may use the electronic record to make a complete converted copy of the electronic power of attorney on or near the time of its execution or at a later time when the full electronic record is available.

(c) A complete converted copy derived from a complete and correct electronic power of attorney may be offered and admitted into evidence as though it were an original and traditional paper power of attorney without the need for additional proof or evidence of authenticity. Whenever this article permits or requires an attorney in fact to provide a copy of a power of attorney to an interested person, the attorney in fact may provide a complete converted copy of the electronic power of attorney. A complete and converted copy is conclusive evidence of the power of attorney's terms unless otherwise determined by a court in an order entered upon notice to all interested persons and after an opportunity for a hearing.

As added by P.L.40-2018, SEC.4. Amended by P.L.185-2021, SEC.25.
Ind. Code § 30-2-14-35 — Indiana Code / Title 30 / Article 2 / Chapter 14 / Section 30-2-14-35
Marital deduction for trust assets
Status: in_force

Sec. 35. (a) If:

(1) a marital deduction is allowed for all or part of a trust whose assets consist substantially of property that does not provide the spouse with sufficient income from or use of the trust assets; and

(2) the amounts that the trustee transfers from principal to income under section 15 of this chapter and distributes to the spouse from principal under the terms of the trust are insufficient to provide the spouse with the beneficial enjoyment required to obtain the marital deduction;

the spouse may require the trustee to make property productive of income, convert property within a reasonable time, or exercise the power conferred by section 15(a) of this chapter. The trustee may decide which action or combination of actions to take.

(b) In cases not governed by subsection (a), proceeds from the sale or other disposition of an asset are principal without regard to the amount of income the asset produces during any accounting period.

As added by P.L.84-2002, SEC.2.
Ind. Code § 30-3-4-2 — Indiana Code / Title 30 / Article 3 / Chapter 4 / Section 30-3-4-2
Determination by board of commissioners to relinquish trust
Status: in_force

Sec. 2. If the board of commissioners determines:

(1) that the amount of money or property given, devised, or bequeathed is or will be inadequate to carry out the trust without an additional appropriation from the county; and

(2) that the county will not be substantially benefited by the administration of the trust;

then the board shall relinquish the trust. The title to any money and property so given, devised, or bequeathed then vests in the legal heirs of the donor or testator according to the provisions of IC 29 concerning intestate succession.

[Pre-Local Government Recodification Citation: 17-2-19-1 part.]

As added by Acts 1980, P.L.8, SEC.143.
Ind. Code § 30-2-16-6 — Indiana Code / Title 30 / Article 2 / Chapter 16 / Section 30-2-16-6
Applicability of reimbursement provision
Status: in_force

Sec. 6. Section 5 of this chapter applies only to an account in which the static balance does not exceed fifty dollars ($50).

As added by P.L.141-2005, SEC.27.
Ind. Code § 30-2-10-7 — Indiana Code / Title 30 / Article 2 / Chapter 10 / Section 30-2-10-7
Delivery of copy of contract to settlor
Status: in_force

Sec. 7. (a) The settlor shall be furnished an executed copy of the contract.

(b) If a contract has been approved and signed by both parties and a copy of the contract has been delivered to the settlor, no further notification to the settlor related to the contract is required.

As added by Acts 1982, P.L.179, SEC.2.
Ind. Code § 30-1-9-3 — Indiana Code / Title 30 / Article 1 / Chapter 9 / Section 30-1-9-3
Repealed
Status: repealed

Formerly: Acts 1852, 1RS, c.113, s.3. Repealed by Acts 1971, P.L.416, SEC.8.
Ind. Code § 30-2-13-27 — Indiana Code / Title 30 / Article 2 / Chapter 13 / Section 30-2-13-27
Payments to board
Status: in_force

Sec. 27. Each seller of a prepaid contract under this chapter shall pay to the board on a form provided by it not later than March 1 of each year from money not deposited in a trust or escrow the following amounts for each contract written during the preceding calendar year:

(1) Two dollars and fifty cents ($2.50) for each contract having a value of less than five hundred dollars ($500).

(2) Five dollars ($5) for each contract having a value of at least five hundred dollars ($500) and less than one thousand five hundred dollars ($1,500).

(3) Ten dollars ($10) for each contract having a value of one thousand five hundred dollars ($1,500) or more.

However, no fee is due and payable on contracts funded with a previously issued life insurance policy. The payment may be charged to the purchaser or, at the option of the seller, paid by the seller. A trustee shall quarterly report to the board all payments received by the trustee from all sellers during the preceding quarter. The report must identify the name and address of each seller from whom the trustee received payments and the total amount of the payments. The payments are administered under section 28 of this chapter.

As added by P.L.200-1991, SEC.1. Amended by P.L.207-1993, SEC.31; P.L.195-1997, SEC.2; P.L.114-1999, SEC.16.
Ind. Code § 30-5-9-4 — Indiana Code / Title 30 / Article 5 / Chapter 9 / Section 30-5-9-4
Errors of judgment; actions or defaults of other persons
Status: in_force

Sec. 4. The attorney in fact is not liable for a loss due to an error of judgment or for the act or default of another person.

As added by P.L.149-1991, SEC.2.
Ind. Code § 30-2-13-13 — Indiana Code / Title 30 / Article 2 / Chapter 13 / Section 30-2-13-13
Designation of successor sellers
Status: in_force

Sec. 13. (a) Notwithstanding section 10 of this chapter, as used in this section, "seller" means an individual, a person doing business as a sole proprietor, a firm, a corporation, an association, a limited liability company, or a partnership:

(1) contracting to provide prepaid or at-need services or merchandise, or both, to a named individual; and

(2) holding a certificate of authority under this chapter.

(b) A purchaser has the option to designate one (1) or more successor sellers to provide:

(1) prepaid services or merchandise; or

(2) at-need services or merchandise.

A purchaser who exercises the purchaser's option to designate a successor seller shall give written notice of the designation to the currently designated seller, successor seller, and trustee or escrow agent. Only a purchaser may exercise the option to designate a new seller. However, the designation is ineffective unless the newly designated seller consents to the designation.

(c) If a purchaser designates a successor seller, and the successor seller consents to the designation, not less than thirty (30) days after receiving notice under subsection (b), the seller who was previously designated shall:

(1) relinquish and transfer all rights under the contract;

(2) transfer to the successor the contract; and

(3) release from trust or escrow for subsequent deposit to the successor seller's trust or escrow all property being held as consideration for the contract, together with an itemized statement disclosing all services or merchandise delivered as of the date of transfer.

However, a seller who was previously designated to provide the services or merchandise shall comply with section 30 of this chapter. The seller and the successor sellers shall cooperate to ensure that there is no forfeiture or loss of a right or benefit under the contract and that all contract terms are fulfilled. If similar prepaid or at-need services or merchandise are purchased from one (1) or more sellers, the contract that is first in time prevails and is valid.

(d) The trustee shall confirm the transfer to the seller, successor seller, and purchaser by written notice confirming the identity and value of the property transferred.

(e) It is a violation of this chapter for a seller to knowingly induce a purchaser to breach an existing contract that provides for prepaid or at-need services or merchandise.

(f) This section does not abrogate the requirements of IC 25-15-4 concerning contracting for or delivering at-need services and merchandise.

(g) It is a violation of this chapter for a seller to knowingly:

(1) induce a purchaser who has the right to designate a successor seller under subsection (b) to:

(A) make a designation of a successor seller;

(B) breach an existing contract for prepaid or at-need services or merchandise; or

(C) enter into an at-need or prepaid contract calling for the delivery of similar services or merchandise; or

(2) offer a monetary inducement or the exchange or substitution of free or discounted services or merchandise in an effort to induce a purchaser to effect a change in the designation of a seller of prepaid or at-need services or merchandise.

(h) It is a violation of this chapter for a seller to provide free or discounted burial rights:

(1) as an inducement or as consideration for the transfer of a contract; or

(2) in an effort to induce a purchaser to effect a change in the designation of a seller of prepaid or at-need services or merchandise.

As added by P.L.200-1991, SEC.1. Amended by P.L.207-1993, SEC.30; P.L.120-1994, SEC.4; P.L.241-1995, SEC.8; P.L.114-1999, SEC.10; P.L.76-2000, SEC.2; P.L.61-2008, SEC.8.
Ind. Code § 30-2-12-16 — Indiana Code / Title 30 / Article 2 / Chapter 12 / Section 30-2-12-16
Determination of compliance
Status: in_force

Sec. 16. Compliance with this chapter shall be determined in light of the facts and circumstances existing at the time a decision is made or action is taken and not by hindsight.

As added by P.L.226-2007, SEC.19.
Ind. Code § 30-2-14-15 — Indiana Code / Title 30 / Article 2 / Chapter 14 / Section 30-2-14-15
Power of trustee to adjust between principal and income
Status: in_force

Sec. 15. (a) A trustee may adjust between principal and income to the extent the trustee considers necessary if:

(1) the trustee invests and manages trust assets as a prudent investor;

(2) the terms of the trust describe the amount that may or must be distributed to a beneficiary by referring to the trust's income; and

(3) the trustee determines:

(A) after applying the rules in section 14(a) of this chapter; and

(B) considering any power the trustee may have under the trust or the will to invade principal or accumulate income;

that the trustee is unable to comply with section 14(b) of this chapter.

(b) In deciding whether and to what extent to exercise the power conferred by subsection (a), a trustee may consider, but is not limited to, any of the following:

(1) The nature, purpose, and expected duration of the trust.

(2) The intent of the settlor.

(3) The identity and circumstances of the beneficiaries.

(4) The needs for liquidity, regularity of income, and preservation and appreciation of capital.

(5) The assets held in the trust; the extent to which they consist of financial assets, interests in closely held enterprises, tangible and intangible personal property, or real property; the extent to which an asset is used by a beneficiary; and whether an asset was purchased by the trustee or received from the settlor.

(6) The net amount allocated to income under this chapter and the increase or decrease in the value of the principal assets, which the trustee may estimate as to assets for which market values are not readily available.

(7) Whether and to what extent the terms of the trust give the trustee the power to invade principal or accumulate income or prohibit the trustee from invading principal or accumulating income, and the extent to which the trustee has exercised a power from time to time to invade principal or accumulate income.

(8) The actual and anticipated effect of economic conditions on principal and income and effects of inflation and deflation.

(9) The anticipated tax consequences of an adjustment.

(c) A trustee may not make an adjustment:

(1) that diminishes the income interest in a trust that requires all of the income to be paid at least annually to a spouse and for which an estate tax or gift tax marital deduction would be allowed, in whole or in part, if the trustee did not have the power to make the adjustment;

(2) that reduces the actuarial value of the income interest in a trust to which a person transfers property with the intent to qualify for a gift tax exclusion;

(3) that changes the amount payable to a beneficiary as a fixed annuity or a fixed fraction of the value of the trust assets;

(4) from any amount that is permanently set aside for charitable purposes under a will or the terms of a trust unless both income and principal are so set aside;

(5) if possessing or exercising the power to make an adjustment causes an individual to be treated as the owner of all or part of the trust for income tax purposes, and the individual would not be treated as the owner if the trustee did not possess the power to make an adjustment;

(6) if possessing or exercising the power to make an adjustment causes all or part of the trust assets to be included for estate tax purposes in the estate of an individual who has the power to remove a trustee or appoint a trustee, or both, and the assets would not be included in the estate of the individual if the trustee did not possess the power to make an adjustment; or

(7) if the trustee is a beneficiary of the trust.

(d) If subsection (c)(5), (c)(6), or (c)(7) applies to a trustee and there is more than one (1) trustee, a cotrustee to whom the provision does not apply may make the adjustment unless the exercise of the power by the remaining trustee or trustees is not permitted by the terms of the trust.

(e) A trustee may release the entire power conferred by subsection (a) or may release only the power to adjust from income to principal or the power to adjust from principal to income if the trustee:

(1) is uncertain about whether possessing or exercising the power will cause a result described in subsection (c)(1) through (c)(6); or

(2) determines that possessing or exercising the power will or may deprive the trust of a tax benefit or impose a tax burden not described in subsection (c).

The release may be permanent or for a specified period, including a period measured by the life of an individual.

(f) Terms of a trust that limit the power of a trustee to make an adjustment between principal and income do not affect the application of this section unless it is clear from the terms of the trust that the terms are intended to deny the trustee the power of adjustment conferred by subsection (a).

(g) Nothing in this chapter is intended to create or imply a duty to make an adjustment. A trustee incurs no liability for:

(1) not considering whether to make an adjustment; or

(2) choosing not to make an adjustment.

As added by P.L.84-2002, SEC.2.
Ind. Code § 30-4-10-59 — Indiana Code / Title 30 / Article 4 / Chapter 10 / Section 30-4-10-59
Interpretation with respect to the Electronic Signatures in Global and National Commerce Act
Status: in_force

Sec. 59. This chapter modifies, limits, or supersedes the Electronic Signatures in Global and National Commerce Act, 15 U.S.C. 7001 as amended and in effect on July 1, 2022, but does not modify, limit, or supersede Section 101(c) of that act, 15 U.S.C. 7001(c) as amended and in effect on July 1, 2022, or authorize electronic delivery of any of the notices described in Section 103(b) of that act, 15 U.S.C. 7003(b) as amended and in effect on July 1, 2022.

As added by P.L.161-2022, SEC.3.
Ind. Code § 30-5-6-4.1 — Indiana Code / Title 30 / Article 5 / Chapter 6 / Section 30-5-6-4.1
Judicial review and settlement of an account; attorney in fact
Status: in_force

Sec. 4.1. (a) An attorney in fact is entitled to judicial review and settlement of an account of all transactions entered into by the attorney in fact, whether or not:

(1) the attorney in fact's authority under the power of attorney has been revoked; or

(2) a request for an accounting is made under section 4(c) of this chapter.

(b) Judicial review and settlement of an account is initiated upon the filing of a petition to settle and allow an account. The petition must be filed with the court exercising probate jurisdiction for the county in which the principal resides. Except as otherwise provided by this section, the procedures under IC 30-4-5-14(b), IC 30-4-5-14(c), IC 30-4-5-14(d), and IC 30-4-5-15 applicable to judicial settlement of a trustee's account govern:

(1) the filing of objections; and

(2) all proceedings;

on the petition.

(c) A petition to settle and allow an account must be served upon all the following that are applicable:

(1) The principal.

(2) Any guardian appointed for the principal.

(3) Any successor attorney in fact.

(4) If the principal is deceased and a personal representative has been appointed:

(A) the personal representative;

(B) any other fiduciary of the principal, if applicable; and

(C) any person beneficially interested in the decedent's estate.

(5) If the principal is deceased and a personal representative has not been appointed, the principal's heirs at law.

(6) If the principal is deceased and the principal's will is probated without administration:

(A) the personal representative named in the probated will; and

(B) all persons or entities beneficially interested in the probated will.

(7) Any other person that the court directs.

(d) An attorney in fact is discharged from liability as to the transactions disclosed in the accounting if:

(1) the court reviews and approves the accounting; and

(2) notice of the court's approval of the accounting is provided to:

(A) the principal, if the principal is not deceased; or

(B) the principal's representatives, whether or not the principal is deceased.

(e) In the absence of fraud, misrepresentation, inadequate disclosure, or failure to provide proper notice related to the power of attorney transactions, the discharge from liability under subsection (d) is lawful and binding upon all interested persons:

(1) who would assert an interest on behalf of or through the principal; and

(2) who are:

(A) born or unborn;

(B) notified or not notified; or

(C) represented or not represented.

(f) The filing fee for a petition to settle and allow an account filed under this section is a legitimate expense of the principal or the principal's estate.

As added by P.L.81-2015, SEC.21.
Ind. Code § 30-2-13-21 — Indiana Code / Title 30 / Article 2 / Chapter 13 / Section 30-2-13-21
Agents of seller; seller liability; written statement
Status: in_force

Sec. 21. A seller who solicits for or enters into a contract under this chapter must satisfy the following conditions:

(1) An agent who acts on behalf of a seller must be directly affiliated with the seller for whom the agent is acting.

(2) The contract must state that the seller is responsible and liable for the veracity and competency of the agent.

(3) An agent must provide to the purchaser a written statement containing the following:

(A) The capacity of the person to act and whether the person is acting for the seller as an agent.

(B) Notice that the seller is the only person or entity authorized to provide the services or merchandise called for by the contract.

(C) The name, address, and telephone number of the seller.

As added by P.L.200-1991, SEC.1.
Ind. Code § 30-5-2-7 — Indiana Code / Title 30 / Article 5 / Chapter 2 / Section 30-5-2-7
"Power of attorney"
Status: in_force

Sec. 7. "Power of attorney" means a writing or other record that grants authority to an attorney in fact or agent to act in place of a principal, whether the term "power of attorney" is used. The term refers to all types of powers of attorney, including durable powers of attorney, except for the following:

(1) A power to the extent it is coupled with an interest in the subject of the power, including a power given to or for the benefit of a credit in connection with a credit transaction.

(2) A proxy or other delegation to exercise voting rights or management rights with respect to an entity.

(3) A power created on a form prescribed by a government or governmental subdivision, agency, or instrumentality for a governmental purpose.

As added by P.L.149-1991, SEC.2. Amended by P.L.143-2009, SEC.23.
Ind. Code § 30-2-8.6-21 — Indiana Code / Title 30 / Article 2 / Chapter 8.6 / Section 30-2-8.6-21
Successor custodial trustee
Status: in_force

Sec. 21. The transferor may:

(1) designate; or

(2) authorize the designation of;

a successor custodial trustee in the trust instrument.

As added by P.L.3-2003, SEC.1.
Ind. Code § 30-5-11-3 — Indiana Code / Title 30 / Article 5 / Chapter 11 / Section 30-5-11-3
Definitions
Status: in_force

Sec. 3. The following terms are defined for this chapter:

(1) "Affidavit of regularity" means an affidavit executed by a custodian or other person under section 9 of this chapter with respect to the electronic record for an electronic power of attorney or a complete converted copy of an electronic power of attorney.

(2) "Complete converted copy" means a document in any format that:

(A) can be visually viewed in its entirety on a monitor or other display device;

(B) can be printed; and

(C) contains the text of an electronic power of attorney and a readable copy of any associated document integrity evidence that may be a part of or attached to the electronic power of attorney.

(3) "Custodian" means a person other than:

(A) the principal who executed the electronic power of attorney;

(B) an attorney; or

(C) a person who is named in the electronic power of attorney as an attorney in fact or successor attorney in fact under the power of attorney.

(4) "Custody" means the authorized possession and control of at least one (1) of the following:

(A) A complete copy of the electronic record for the electronic power of attorney.

(B) A complete converted copy of the electronic power of attorney if the complete electronic record has been lost or destroyed or the electronic power of attorney has been revoked.

(5) "Directed paralegal" means a nonlawyer assistant who is employed, retained, or otherwise associated with a licensed attorney or law firm and whose work is directly supervised by a licensed attorney, as required by Rule 5.3 of the Rules of Professional Conduct.

(6) "Document integrity evidence" means the part of the electronic record for the electronic power of attorney that:

(A) is created and maintained electronically;

(B) includes digital markers showing that the electronic power of attorney has not been altered after its initial execution by the principal;

(C) is logically associated with the electronic power of attorney in a tamper evident manner so that any change made to the text of the electronic power of attorney after its execution is visibly perceptible when the electronic record is displayed or printed;

(D) will generate an error message, invalidate an electronic signature, make the electronic record unreadable, or otherwise display evidence that some alteration was made to the electronic power of attorney after its execution; and

(E) displays the following information:

(i) The city and state in which, and the date and time at which, the electronic power of attorney was executed by the principal.

(ii) The name of the principal.

(iii) The name and address of the person responsible for marking the principal's signature on the electronic power of attorney at the principal's direction and in the principal's presence, as applicable.

(iv) A copy of or a link to the electronic signature of the principal on the electronic power of attorney.

(v) A general description of the type of identity verification evidence used to verify the principal's identity.

(vi) The content of the cryptographic hash or unique code used to complete the electronic record and make the electronic power of attorney tamper evident if a public key infrastructure or a similar secure technology was used to sign or authenticate the electronic power of attorney and if the vendor or software for the technology makes inclusion feasible.

Document integrity evidence may, but is not required to, contain other information about the electronic power of attorney such as a unique document number, client number, or other identifier that an attorney or custodian assigns to the electronic power of attorney or a link to a secure Internet web site where a complete copy of the electronic power of attorney is accessible. The title, heading, or label, if any, that is assigned to the document integrity evidence (such as "certificate of completion", "audit trail", or "audit log") is immaterial.

(7) "Electronic" has the meaning set forth in IC 26-2-8-102.

(8) "Electronic power of attorney" means a power of attorney created by a principal that:

(A) is initially created and maintained as an electronic record;

(B) contains the electronic signature of the principal creating the power of attorney;

(C) contains the date and time of the electronic signature of the principal creating the power of attorney; and

(D) is either:

(i) notarized; or

(ii) signed in the presence of witnesses under sections 4(a)(2), 4.3, 4.5, 4.7, and 4.9 of this chapter.

The term includes an amendment to or a restatement of the power of attorney if the amendment or restatement complies with the requirements described in section 5 of this chapter.

(9) "Electronic record" has the meaning set forth in IC 26-2-8-102. The term may include one (1) or both of the following:

(A) The document integrity evidence associated with an electronic power of attorney.

(B) The identity verification evidence of the principal who executed the electronic power of attorney.

(10) "Electronic signature" has the meaning set forth in IC 26-2-8-102.

(11) "Executed" means the signing of a power of attorney. The term includes the use of an electronic signature.

(12) "Identity verification evidence" means either:

(A) a copy of a government issued photo identification card belonging to the principal; or

(B) any other information that verifies the identity of the principal if derived from one (1) or more of the following sources:

(i) A knowledge based authentication method.

(ii) A physical device.

(iii) A digital certificate using a public key infrastructure.

(iv) A verification or authorization code sent to or used by the principal.

(v) Biometric identification.

(vi) Any other commercially reasonable method for verifying the principal's identity using current or future technology.

(13) "Logically associated" means electronically connected, cross referenced, or linked in a reliable manner.

(14) "Observe" means to perceive another's actions or expressions of intent through the senses of eyesight or hearing, or both. The term includes perceptions involving the use of technology or learned skills to:

(A) assist the person's capabilities of eyesight or hearing, or both; or

(B) compensate for an impairment of the person's capabilities of eyesight or hearing, or both.

(15) "Observing" has the meaning set forth in subdivision (14).

(16) "Sign" means valid use of a properly executed electronic signature.

(17) "Signature" means the authorized use of the principal's name to authenticate a power of attorney. The term includes an electronic signature.

(18) "Tamper evident" means the feature of an electronic record, such as an electronic power of attorney or document integrity evidence for an electronic power of attorney, that will cause the fact of any alteration or tampering with the electronic record, after it is created or signed, to be perceptible to any person viewing the electronic record when it is printed on paper or viewed on a monitor or other display device. The term applies even if the nature or specific content of the alteration is not perceptible.

(19) "Traditional paper power of attorney" means a power of attorney or an amendment to or a restatement of a power of attorney that is signed by the principal on paper.

As added by P.L.40-2018, SEC.4. Amended by P.L.10-2019, SEC.120; P.L.231-2019, SEC.39; P.L.185-2021, SEC.24; P.L.162-2022, SEC.23.
Ind. Code § 30-2-15-11 — Indiana Code / Title 30 / Article 2 / Chapter 15 / Section 30-2-15-11
Petition by trustee
Status: in_force

Sec. 11. If a trustee:

(1) receives an objection under section 10 of this chapter;

(2) elects not to proceed under section 10 of this chapter; or

(3) is not able to proceed under section 10 of this chapter because the trustee does not have the power to adjust under IC 30-2-14-15(c)(5), IC 30-2-14-15(c)(6), or IC 30-2-14-15(c)(7);

the trustee may petition the court having jurisdiction of the trust for an order that allows the trustee to take an action described in section 9 of this chapter.

As added by P.L.3-2003, SEC.2.
Ind. Code § 30-2-14-41 — Indiana Code / Title 30 / Article 2 / Chapter 14 / Section 30-2-14-41
Principal disbursements; income transfers to reimburse principal or create principal disbursement reserve
Status: in_force

Sec. 41. (a) If a trustee makes or expects to make a principal disbursement described in this section, the trustee may transfer an appropriate amount from income to principal in one (1) or more accounting periods to reimburse principal or to provide a reserve for future principal disbursements.

(b) Principal disbursements to which subsection (a) applies include the following, but only to the extent that the trustee has not been and does not expect to be reimbursed by a third party:

(1) an amount chargeable to income but paid from principal because it is unusually large, including extraordinary repairs;

(2) a capital improvement to a principal asset, whether in the form of changes to an existing asset or the construction of a new asset, including special assessments;

(3) disbursements made to prepare property for rental, including tenant allowances, leasehold improvements, and broker's commissions;

(4) periodic payments on an obligation secured by a principal asset to the extent that the amount transferred from income to principal for depreciation is less than the periodic payments; and

(5) disbursements described in section 39(a)(7) of this chapter.

(c) If the asset whose ownership gives rise to the disbursements becomes subject to a successive income interest after an income interest ends, a trustee may continue to transfer amounts from income to principal as provided in subsection (a).

As added by P.L.84-2002, SEC.2.
Ind. Code § 30-2-14-19 — Indiana Code / Title 30 / Article 2 / Chapter 14 / Section 30-2-14-19
Beneficiary's share of net income
Status: in_force

Sec. 19. (a) Each beneficiary described in section 18(a)(4) of this chapter is entitled to receive a portion of the net income equal to the beneficiary's fractional interest in undistributed principal assets, using values as of the distribution date. If a fiduciary makes more than one (1) distribution of assets to beneficiaries to whom this section applies, each beneficiary, including a beneficiary who does not receive part of the distribution, is entitled, as of each distribution date, to the net income the fiduciary has received after the date of death or terminating event or earlier distribution date but has not distributed as of the current distribution date.

(b) In determining a beneficiary's share of net income, the following rules apply:

(1) The beneficiary is entitled to receive a portion of the net income equal to the beneficiary's fractional interest in the undistributed principal assets immediately before the distribution date, including assets that later may be sold to meet principal obligations.

(2) The beneficiary's fractional interest in the undistributed principal assets must be calculated without regard to property specifically given to a beneficiary and property required to pay pecuniary amounts not in trust.

(3) The beneficiary's fractional interest in the undistributed principal assets must be calculated on the basis of the aggregate value of those assets as of the distribution date without reducing the value by any unpaid principal obligation.

(4) The distribution date for purposes of this section may be the date as of which the fiduciary calculates the value of the assets if that date is reasonably near the date on which assets are actually distributed.

(c) If a fiduciary does not distribute all of the collected but undistributed net income to each person as of a distribution date, the fiduciary shall maintain appropriate records showing the interest of each beneficiary in that net income.

(d) A fiduciary may apply the rules in this section, to the extent that the fiduciary considers it appropriate, to net gain or loss realized after the date of death or terminating event or earlier distribution date from the disposition of a principal asset if this section applies to the income from the asset.

As added by P.L.84-2002, SEC.2. Amended by P.L.51-2014, SEC.14.
Ind. Code § 30-5-8-4 — Indiana Code / Title 30 / Article 5 / Chapter 8 / Section 30-5-8-4
Investigation not required
Status: in_force

Sec. 4. A person relying on the power of attorney or the attestation of the attorney in fact is not required to investigate any of the following:

(1) Whether the power of attorney is valid.

(2) Whether the attorney in fact is authorized to act.

(3) What the attorney in fact does with property delivered to the attorney in fact.

As added by P.L.149-1991, SEC.2.
Ind. Code § 30-4-3.5-12 — Indiana Code / Title 30 / Article 4 / Chapter 3.5 / Section 30-4-3.5-12
Purpose of chapter
Status: in_force

Sec. 12. This chapter shall be applied and construed to effectuate its general purpose to make uniform the law with respect to the subject of this chapter among the states enacting it.

As added by P.L.137-1999, SEC.3.
Ind. Code § 30-4-2.1-6 — Indiana Code / Title 30 / Article 4 / Chapter 2.1 / Section 30-4-2.1-6
Void, revoked, or lapsed devise
Status: in_force

Sec. 6. If a devise of real or personal property, not included in the residuary clause of the trust:

(1) is void;

(2) is revoked; or

(3) lapses;

the devise becomes a part of the residue and passes to the residuary beneficiary.

As added by P.L.4-2003, SEC.7.
Ind. Code § 30-4-6-4 — Indiana Code / Title 30 / Article 4 / Chapter 6 / Section 30-4-6-4
Docketing of trusts in general
Status: in_force

Sec. 4. Except as provided in section 7 of this chapter and IC 30-4-7, unless the terms of the trust expressly direct that the court is to have continuing jurisdiction over the administration of the trust:

(1) a trustee need not file a copy of the trust instrument as a part of the court's records;

(2) the court may not require a copy of the trust instrument to be filed as a part of the court's records; and

(3) if:

(A) a decedent's will establishes a trust or contains a devise to a trust; and

(B) the will is probated under IC 29-1-7 with or without the appointment of a personal representative for the decedent's estate;

the court shall have no continuing jurisdiction over the administration of the trust after the will is probated or after any distribution from the decedent's estate is paid or delivered to the trustee.

Formerly: Acts 1971, P.L.416, SEC.7. As amended by P.L.200-1991, SEC.5; P.L.162-2022, SEC.20.
Ind. Code § 30-4-2-17 — Indiana Code / Title 30 / Article 4 / Chapter 2 / Section 30-4-2-17
Valid purposes of charitable trust; selection of purpose or beneficiary if not specified by trust
Status: in_force

Sec. 17. (a) A charitable trust may be created for the following purposes:

(1) The relief of poverty.

(2) The advancement of education or religion.

(3) The promotion of health.

(4) Governmental and municipal purposes.

(5) A purpose that is beneficial to the community.

(b) If the terms of a charitable trust do not indicate a particular charitable purpose or beneficiary, the court may select at least one (1) charitable purpose or beneficiary. The selection must be consistent with the settlor's intention to the extent the intention can be ascertained.

(c) The settlor of a charitable trust, among other persons, may maintain a proceeding to enforce the charitable trust.

As added by P.L.238-2005, SEC.25.
Ind. Code § 30-4-7-2 — Indiana Code / Title 30 / Article 4 / Chapter 7 / Section 30-4-7-2
Binding effect of compromise
Status: in_force

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.
Ind. Code § 30-4-3-26 — Indiana Code / Title 30 / Article 4 / Chapter 3 / Section 30-4-3-26
Power to direct a deviation from the terms of the trust
Status: in_force

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 or substantially impair the accomplishment of the purposes of the trust. In that case, if necessary to carry out the purposes of the trust, the court may direct or permit the trustee to do acts which are not authorized or are forbidden by the terms of the trust, or may prohibit the trustee from performing acts required by the terms of the trust.

(b) The trustee may deviate from the terms of the trust as provided in subsection (a) of this section, without first obtaining the permission of the court, if there is an emergency or if he reasonably believes that there is an emergency, and before deviating he has no opportunity to apply to the court for permission to deviate.

(c) The trustee is liable for any loss or damage which results if he fails to apply to the court for permission to deviate from the terms of the trust, when he knows or should know that, owing to circumstances not known to the settlor and not anticipated by him, compliance will defeat or substantially impair the accomplishment of the purposes of the trust.

Formerly: Acts 1971, P.L.416, SEC.4.
Ind. Code § 30-4-3-13 — Indiana Code / Title 30 / Article 4 / Chapter 3 / Section 30-4-3-13
Liability of a successor trustee
Status: in_force

Sec. 13. (Liability of a Successor Trustee)

A successor trustee becomes liable for a breach of trust of his predecessor if he:

(a) fails to take whatever action is necessary to compel the predecessor trustee to deliver the trust property; or

(b) fails to make a reasonable effort to compel a redress of a breach of trust committed by the predecessor trustee.

Formerly: Acts 1971, P.L.416, SEC.4.
Ind. Code § 30-2-8.5-22 — Indiana Code / Title 30 / Article 2 / Chapter 8.5 / Section 30-2-8.5-22
Transfer by obligor
Status: in_force

Sec. 22. (a) A person not subject to section 20 or 21 of this chapter that holds property of or owes a liquidated debt to a minor not having a guardian may make an irrevocable transfer to a custodian for the benefit of the minor under section 24 of this chapter.

(b) If a person having the right to nominate a custodian under section 18 of this chapter has nominated a custodian under that section to receive the custodial property, the transfer shall be made to the custodian.

(c) A trustee or administrator of a retirement plan, life insurance plan, or employee profit or stock sharing plan of which a minor is a designated beneficiary may transfer funds due under the plan to the minor under subsection (a).

As added by P.L.267-1989, SEC.2. Amended by P.L.105-2026, SEC.5.
Ind. Code § 30-1-6-5 — Indiana Code / Title 30 / Article 1 / Chapter 6 / Section 30-1-6-5
Acts conclusive; disaffirmance denied
Status: in_force

Sec. 5. Acts of guardians under this chapter are conclusive upon the protected person and any future disaffirmance is denied.

Formerly: Acts 1943, c.270, s.5. As amended by P.L.33-1989, SEC.88.
Ind. Code § 30-4-2-16 — Indiana Code / Title 30 / Article 4 / Chapter 2 / Section 30-4-2-16
Election by surviving spouse to take share against settlor's will; distribution of remainder
Status: in_force

Sec. 16. (a) This section applies to:

(1) property in a trust that is subject to a spouse's right of election under IC 29-1-3; and

(2) a trust that receives property from the settlor's estate;

if the settlor's spouse files an effective election to take a share of the settlor's estate against the settlor's will under IC 29-1-3.

(b) The trustee shall dispose of the assets received from the settlor's estate and the portion of the trust remaining after the spouse's election as if the settlor's spouse had died before the settlor died.

As added by P.L.200-1991, SEC.4.
Ind. Code § 30-2-5-11 — Indiana Code / Title 30 / Article 2 / Chapter 5 / Section 30-2-5-11
Short title
Status: in_force

Sec. 11. This chapter may be cited as the Uniform Act for the Simplification of Fiduciary Security Transfers.

Formerly: Acts 1961, c.124, s.11. As amended by Acts 1982, P.L.171, SEC.104.
Ind. Code § 30-2-8.5-39 — Indiana Code / Title 30 / Article 2 / Chapter 8.5 / Section 30-2-8.5-39
Severability
Status: in_force

Sec. 39. The provisions of this chapter are severable in the manner provided by IC 1-1-1-8(b).

As added by P.L.267-1989, SEC.2.
Ind. Code § 30-2-12-12 — Indiana Code / Title 30 / Article 2 / Chapter 12 / Section 30-2-12-12
Repealed
Status: repealed

As added by P.L.268-1989, SEC.1. Amended by P.L.199-1991, SEC.2. Repealed by P.L.226-2007, SEC.24.
Ind. Code § 30-1-9-8 — Indiana Code / Title 30 / Article 1 / Chapter 9 / Section 30-1-9-8
Resulting trust; absolute conveyance without consent
Status: in_force

Sec. 8. The provisions of the section next before the last, shall not extend to cases where the alienee shall have taken an absolute conveyance in his own name, without the consent of the person with whose money the consideration was paid; or where such alienee, in violation of some trust, shall have purchased the land with moneys not his own; or where it shall be made to appear that, by agreement, and without any fraudulent intent, the party to whom the conveyance was made, or in whom the title shall vest, was to hold the land or some interest therein in trust for the party paying the purchase-money or some part thereof.

Formerly: Acts 1852, 1RS, c.113, s.8.
Ind. Code § 30-2-14-32 — Indiana Code / Title 30 / Article 2 / Chapter 14 / Section 30-2-14-32
Receipts from liquidating asset
Status: in_force

Sec. 32. (a) As used in this section, "liquidating asset" means an asset whose value will diminish or terminate because the asset is expected to produce receipts for a period of limited duration. The term includes a leasehold, patent, copyright, royalty right, and right to receive payments during a period of more than one (1) year under an arrangement that does not provide for the payment of interest on the unpaid balance. The term does not include the following:

(1) A payment subject to section 31 of this chapter.

(2) Resources subject to section 33 of this chapter.

(3) Timber subject to section 34 of this chapter.

(4) An activity subject to section 36 of this chapter.

(5) An asset subject to section 37 of this chapter.

(6) Any asset for which the trustee establishes a reserve for depreciation under section 40 of this chapter.

(b) A trustee shall allocate to income ten percent (10%) of the receipts from a liquidating asset and the balance to principal.

As added by P.L.84-2002, SEC.2.
Ind. Code § 30-3-4-3 — Indiana Code / Title 30 / Article 3 / Chapter 4 / Section 30-3-4-3
Certifying transcript of finding; recording
Status: in_force

Sec. 3. The auditor of a county in which the board of commissioners makes a finding under this chapter affecting the title to real estate shall immediately certify a transcript of the finding to the county recorder of the county in which the real estate so affected is located. The county recorder shall then have the transcript recorded in the deed record of the county.

[Pre-Local Government Recodification Citation: 17-2-19-2.]

As added by Acts 1980, P.L.8, SEC.143.
Ind. Code § 30-2-13-12.5 — Indiana Code / Title 30 / Article 2 / Chapter 13 / Section 30-2-13-12.5
Contracts entered into after June 30, 1999
Status: in_force

Sec. 12.5. (a) This section applies to the following contracts entered into or established under this chapter after June 30, 1999:

(1) Contracts for prepaid services.

(2) Contracts for prepaid merchandise.

(3) Trusts or escrows established to hold consideration paid for services or merchandise subject to a contract entered into under this chapter.

(b) A contract between a purchaser and a seller must:

(1) specify that the consideration for the contract is:

(A) cash, payable either in a lump sum or in installments; or

(B) an insurance policy that is:

(i) newly issued in conjunction with and integral to the contract;

(ii) issued previously in a transaction separate and distinct from the contract; or

(iii) both.

If a contract is funded with an insurance policy, the ownership of the policy must be irrevocably assigned to a trustee, and the seller may not borrow against, pledge, withdraw, or impair the cash value of the policy;

(2) specify that only the purchaser, acting by written notice to the seller, may revoke the contract within thirty (30) days after the date the contract is signed by the purchaser and the seller and that the contract becomes irrevocable upon the expiration of the thirty (30) day period;

(3) specify that, if the contract is revoked, the seller shall refund and return to the purchaser, without interest, the cash or insurance policy used to fund the contract;

(4) specify that not more than thirty (30) days after the contract is signed by the purchaser and the seller, the whole of the cash or insurance policy serving as consideration for the contract must be deposited into a trust or escrow authorized by subsection (c) or (d). However, a seller may elect to serve as trustee of a previously existing life insurance contract;

(5) except as provided in subsection (f), unconditionally require that the seller shall deliver all services or merchandise, or both, specified in the contract and receive as consideration for the delivery of services or merchandise, or both, only the cash or insurance policy held in trust or escrow without regard to the solvency of the insurer or the adequacy or loss in value of any cash deposit or insurance policy used to fund a contract;

(6) except as provided in subsection (f), prohibit a seller from imposing additional charges to recover any shortage or difference between the retail prices for services or merchandise, or both, in effect on the date of delivery of the services or merchandise, or both, and the value of the trust or escrow applicable to the contract on the date of delivery;

(7) require that a seller accepting the transfer of a contract permitted under section 13 of this chapter shall honor the requirements and obligations of the contract;

(8) permit the seller to assess a finance charge on a contract sold on an installment basis and require that the seller disclose to the purchaser the applicable requirements of federal and Indiana law;

(9) provide that the contract must comply with the following requirements:

(A) The contract must be made in a form that is:

(i) written in clear and understandable language; and

(ii) printed in a size and style of type that is easy to read.

(B) The contract must describe the services, merchandise, or cash advance items being purchased. If the merchandise or cash advance items include a vault (as defined in IC 23-14-33-33) that:

(i) will be used to encase the remains of a deceased individual; and

(ii) is not airtight and watertight;

the contract must include a written statement indicating that the vault is not airtight and watertight.

(C) The contract must identify the following by name, address, and telephone number:

(i) The seller.

(ii) The purchaser.

(iii) The contract beneficiary if the beneficiary is an individual other than the purchaser.

(D) The contract must contain the seller's certificate of authority number and the date of the contract.

(E) The contract must provide that if an item of the particular services or merchandise specified in the contract is unavailable at the time of delivery, the seller shall deliver services or merchandise similar in style, quality, and of equal value to the unavailable item in the place of the item.

(F) The contract must disclose the precise manner in which the contract is to be funded by:

(i) identifying the consideration for the contract;

(ii) identifying the name, number, if known, and issuer of any insurance policy used to fund the contract; and

(iii) including the identity and location of the trustee or escrow agent, acting as fiduciary, who is to hold the trust or escrow.

(G) The contract must disclose that the seller reserves the right to assess an extra charge for:

(i) transportation costs;

(ii) services or merchandise incurred in the transport of human remains a distance greater than twenty-five (25) miles from the seller's place of business; and

(iii) service charges necessarily incident to the transport of human remains and in excess of those service charges specified in the contract.

(H) The contract must disclose the following:

(i) The amount, if any, the seller has elected to receive under subsection (c)(1) or subsection (d)(6).

(ii) That a commission or fee may be paid to the seller or the seller's agent on a contract funded under subsection (b)(1)(B)(i).

(10) specify that a purchaser has the unrestricted right to designate one (1) or more successor sellers to whom the contract may be transferred under section 13 of this chapter, but that such a transfer is effective only with the consent of the newly designated seller and upon the fulfillment of the other requirements of section 13 of this chapter;

(11) specify that if cash advance items are funded in the contract, the seller agrees to deliver the cash advance items under one (1) of the following alternatives:

(A) Delivery is unconditionally guaranteed at the option of the seller.

(B) Delivery is conditionally guaranteed for a seller and will be equal in value to the total value of the trust or escrow account maintained for the purchaser multiplied by the percentage of the total original contract price represented by cash advance items;

(12) specify that a release from trust or escrow shall occur only upon the seller's delivery of services or merchandise, or both;

(13) permit, at the option of the seller, the incorporation of the trust or escrow language contained in subsection (c) or (d) directly into the contract;

(14) prohibit the seller from charging any service, transaction, or other type of fee or charge unless the fee is:

(A) authorized under subsections (c)(1) and (d)(6) and section 27 of this chapter; or

(B) included within the definitions contained in section 8 or 11.5 of this chapter.

(c) A trust account authorized and established under this chapter must do all of the following:

(1) Be irrevocable and require either of the following:

(A) The seller deposit the insurance policy used to fund the contract into the trust account. However, for contracts funded after June 30, 1995, with a previously issued insurance policy, the seller may serve instead of a trustee if the seller is qualified to do so under section 11(c) of this chapter.

(B) The seller deposit the cash used to fund the contract into the trust account. However, as consideration for the sale of the contract and any expense incurred by the seller in conjunction with the sale of the contract, the contract must permit the seller to notify, within a ten (10) day period following the date the contract becomes irrevocable, the trustee of its election to receive only up to ten percent (10%) of the seller's original contract price for services or merchandise, or both.

(2) Designate the seller as the beneficiary of the trust.

(3) Designate a trustee qualified under this chapter and authorize the trustee to assess the charges authorized under section 18 of this chapter.

(4) Require that a separate account be maintained in the name of each purchaser.

(5) Require that any interest, dividend, or accumulation in the account be reinvested and added to the principal.

(6) Permit the assets of the several, separate accounts to be commingled for investment purposes.

(7) Require that on receipt of the seller's proof of delivery of services or merchandise the trustee shall remit to the seller the full amount in trust applicable to the purchaser's contract and all of the accumulated interest.

(8) Permit the seller to retain the remaining amount if the amount in the trust account is greater than the seller's total current retail price of all services and merchandise subject to the contract at the time of delivery of all services or merchandise subject to the contract. However, in the case of a contract funded under subsection (b)(1)(B)(ii), the seller may not retain the remaining amount but must pay the remaining amount to the entity or individual designated by the insured as the beneficiary of the death benefit proceeds not later than sixty (60) days after the receipt and deposit of the proceeds by the seller. The seller may not qualify as a beneficiary of the remaining amount or the insurance death benefit. In the case of all other contracts funded under this chapter, the seller may opt to return the remaining amount to the individual designated by the purchaser to receive the remainder or to the purchaser's estate.

(d) An escrow account authorized and established under this chapter must do all of the following:

(1) Be irrevocable and require that the seller deposit all cash or the insurance policy used to fund the contract into the escrow account.

(2) Designate the seller as the recipient of the escrow funds.

(3) Designate an escrow agent, acting as fiduciary, qualified under this chapter to act as escrow agent acting as fiduciary and authorize the escrow agent acting as fiduciary to assess the charges authorized under section 18 of this chapter.

(4) Require that the escrow account be maintained in the name of the seller and serve as a depository for all cash or insurance policies used to fund contracts sold by the seller.

(5) Permit the investment of and commingling of cash for investment purposes.

(6) Permit the seller to receive an administrative or service fee at the option of the seller. The seller may opt to receive the fee after the day following the date the contract becomes irrevocable. The amount of the fee may not exceed ten percent (10%) of the seller's total contract price for services or merchandise or both.

(7) Require that on delivery of services or merchandise, the escrow agent shall remit to the seller an amount equal to:

(A) the seller's original retail price as set forth in the contract for the services or merchandise delivered; minus

(B) the amount, if any, received by the seller under subdivision (6).

(8) Permit the seller to receive monthly payments of the interest earned and the appreciation in the value of the escrow assets to the extent that the total value of the escrow after a payment authorized under this subdivision is not less than:

(A) the original contract value of all services or merchandise under the contracts, or parts of the contracts that remain undelivered; minus

(B) the amounts, if any, received by the seller under subdivision (6).

(e) A trust account or an escrow account established under this section must contain a concise written description of all the provisions of this chapter that apply to the account.

(f) A seller's guarantee of delivery of all services or merchandise subject to a contract sold by the seller or transferred to a seller is unconditional except in the instance of one (1) of the following circumstances:

(1) An installment contract funded with cash or an insurance policy issued in conjunction with the contract is guaranteed to the extent of the cash paid or death benefits available at the time of death of the individual for whom services or merchandise are to be provided.

(2) A contract funded with an insurance policy issued previously and not in conjunction with the contract is guaranteed to the extent of the death benefit proceeds available at the time of the individual for whom services or merchandise are to be provided.

(3) A contract funded with an insurance policy issued in conjunction with the contract, but having a limited or qualified death benefit period, is guaranteed to the extent of the death benefit proceeds available at the time of the death of the individual for whom services or merchandise are to be provided.

(4) A transportation expense incurred by the seller while transporting human remains a distance greater than twenty-five (25) miles from the seller's place of business, plus any charge for services or merchandise necessarily incident to the transport of the human remains.

(5) The seller agrees to conditionally guarantee the delivery of cash advance items under subsection (b)(11)(B).

In the instance of unguaranteed delivery, the seller may reduce the value or number of the services or merchandise subject to the contract or cash advance items delivered or deliver the services or merchandise in full on the condition that the seller receives adequate consideration to compensate the seller for the unguaranteed part of the contract.

(g) The entire value of an escrow or trust established under this chapter may not be considered as a resource in determining a person's eligibility for Medicaid under IC 12-15-2-17.

(h) This chapter does not prohibit a purchaser from immediately making the trust or escrow required under this chapter irrevocable and assigning ownership of an insurance policy used to fund a contract to obtain favorable consideration for Medicaid, Supplemental Security Income, or another public assistance program under federal or state law.

(i) A seller may not accept or deposit into a trust or escrow account cash, an insurance policy, or any other property as consideration for services or merchandise to be provided in the future except in conjunction with a contract authorized by this chapter.

As added by P.L.114-1999, SEC.9. Amended by P.L.76-2000, SEC.1; P.L.61-2008, SEC.7.
Ind. Code § 30-5-2-8 — Indiana Code / Title 30 / Article 5 / Chapter 2 / Section 30-5-2-8
"Principal"
Status: in_force

Sec. 8. "Principal" means:

(1) an individual:

(A) who is:

(i) at least eighteen (18) years of age;

(ii) emancipated; or

(iii) currently serving in the United States military; and

(B) includes an individual acting as a:

(i) trustee;

(ii) personal representative; or

(iii) fiduciary;

(2) a corporation;

(3) a limited liability company;

(4) a trust; or

(5) a partnership;

who signs a power of attorney granting powers to an attorney in fact.

As added by P.L.149-1991, SEC.2. Amended by P.L.178-2002, SEC.107; P.L.184-2021, SEC.9.
Ind. Code § 30-4-2-9 — Indiana Code / Title 30 / Article 4 / Chapter 2 / Section 30-4-2-9
Necessity of powers or duties
Status: in_force

Sec. 9. (Necessity of Powers or Duties)

Subject to 30-4-2-13, if the trustee has neither a power nor a duty related to the administration of the trust, the title to the trust property will be treated as having vested directly in the beneficiary on the date of delivery to the trustee.

Formerly: Acts 1971, P.L.416, SEC.3.
Ind. Code § 30-5-5-3 — Indiana Code / Title 30 / Article 5 / Chapter 5 / Section 30-5-5-3
Tangible personal property transactions
Status: in_force

Sec. 3. (a) Language conferring general authority with respect to tangible personal property transactions means the principal authorizes the attorney in fact to do the following:

(1) Accept as a gift or as security for a loan, reject, demand, buy, receive, or otherwise acquire ownership or possession of tangible personal property or an interest in tangible personal property.

(2) Sell, exchange, convey with or without covenants, release, surrender, mortgage, encumber, pledge, hypothecate, pawn, grant options concerning, lease or sublet, or otherwise dispose of tangible personal property or an interest in tangible personal property.

(3) Release in whole or in part, assign the whole or a part of, satisfy in whole or in part, and enforce by action or proceeding, a mortgage, an encumbrance, a lien, or other claim that exists or is claimed to exist in favor of the principal with respect to tangible personal property or an interest in tangible personal property.

(4) Perform acts of management or conservation with respect to tangible personal property or an interest in tangible personal property owned or claimed to be owned by the principal, including the power to do the following:

(A) Insure against casualty, liability, or loss.

(B) Obtain, regain possession of, or protect by action or proceeding.

(C) Pay, contest, or compromise taxes or assessments.

(D) Apply for and receive funds in connection with taxes or assessments.

(E) Move from place to place or store for hire or on a gratuitous bailment.

(F) Use, alter, and make repairs.

(5) Demand, receive, or obtain by action or proceeding money or other things of value to which the principal is, may become, or claims to be entitled to as the proceeds of tangible personal property, an interest in tangible personal property, or a transaction permitted under this section, conserve, invest, disburse, or use anything received for a purpose permitted under this section, and reimburse the attorney in fact for expenditures properly made in the execution of powers conferred upon the attorney in fact.

(6) Agree and contract in any manner and on any terms with a person and on any terms that the attorney in fact selects to accomplish a purpose permitted under this section and perform, rescind, reform, release, or modify an agreement or a contract made by or on behalf of the principal.

(7) Execute, acknowledge, seal, and deliver a conveyance, mortgage, lease, notice, check, or other instrument that the attorney in fact considers useful to accomplish a purpose permitted under this section.

(8) Prosecute, defend, submit to arbitration, settle, and propose or accept a compromise with respect to a claim existing in favor of or against the principal based on or involving a tangible personal property transaction or intervene in an action or proceeding relating to a claim.

(9) Hire, discharge, and compensate an attorney, accountant, expert witness, or other assistant when the attorney in fact considers the action to be desirable for the proper execution by the attorney in fact of a power described in this section and keep needed records.

(10) Perform any other acts with respect to tangible personal property or an interest in tangible personal property.

(b) The powers described in this section are exercisable equally with respect to tangible personal property or an interest in tangible personal property owned by the principal at the time of the giving of the power of attorney or acquired after that time, whether located in Indiana or in another jurisdiction.

As added by P.L.149-1991, SEC.2.
Ind. Code § 30-1-7-2 — Indiana Code / Title 30 / Article 1 / Chapter 7 / Section 30-1-7-2
Petition to execute options; prospectus
Status: in_force

Sec. 2. Guardians of the estates of persons under the age of eighteen (18) years and incapacitated persons are authorized to petition the court having probate jurisdiction in the county in which the guardianship is pending for authority to execute the options under section 1 of this chapter. The petition shall be verified and set forth the name of the person, firm, limited liability company, or corporation to whom it is proposed to give the option. It shall also set forth a prospectus as to the probable existence of minerals, their probable value, the amount to be paid for the option, the length of time the option is to continue, a copy of the proposed option, and a copy of the proposed lease or deed which is to be executed in the event the option is exercised.

Formerly: Acts 1943, c.105, s.2; Acts 1973, P.L.264, SEC.8. As amended by P.L.33-1989, SEC.90; P.L.8-1993, SEC.462.
Ind. Code § 30-2-9-8 — Indiana Code / Title 30 / Article 2 / Chapter 9 / Section 30-2-9-8
Partial invalidity of law
Status: in_force

Sec. 8. If any part or parts of this chapter shall be held unconstitutional, the remaining provisions shall be given full force and effect as completely as if the part held unconstitutional had not been included in this chapter, if such remaining part or parts can then be administered for the purpose of licensing and regulating payments for future use in connection with the disposition of a dead human body, as provided for in this chapter.

Formerly: Acts 1963, c.303, s.8. As amended by Acts 1982, P.L.171, SEC.116; P.L.136-2018, SEC.223.
Ind. Code § 30-5-7-6 — Indiana Code / Title 30 / Article 5 / Chapter 7 / Section 30-5-7-6
Anatomical gifts, autopsies, or remains disposition
Status: in_force

Sec. 6. If a power of attorney authorizes the attorney in fact to:

(1) make an anatomical gift on behalf of the principal;

(2) authorize an autopsy of the principal's remains; or

(3) direct the disposition of the principal's remains;

the anatomical gift, autopsy, or remains disposition shall be considered the act of the principal or of the person who has priority under law to make the necessary decisions. Each person to whom the attorney in fact communicates a direction shall comply with the direction.

As added by P.L.149-1991, SEC.2.
Ind. Code § 30-4-3-16 — Indiana Code / Title 30 / Article 4 / Chapter 3 / Section 30-4-3-16
Remedies among co-trustees
Status: in_force

Sec. 16. (Remedies among Co-Trustees)

Any trustee may maintain an action against a co-trustee to:

(a) compel him to perform his duties under the trust;

(b) enjoin him from committing a breach of trust; or

(c) compel him to redress a breach of trust committed by him.

Formerly: Acts 1971, P.L.416, SEC.4.
Ind. Code § 30-4-9-13 — Indiana Code / Title 30 / Article 4 / Chapter 9 / Section 30-4-9-13
Causes of action; statutes of limitations
Status: in_force

Sec. 13. (a) An action against a trust director for breach of trust must be commenced within the same limitation period as an action against a trustee under IC 30-4-6-12.

(b) A report or accounting has the same effect on the limitation period for an action against a trust director for breach of trust that the report or accounting would have under IC 30-4-6-12 in an action for breach of trust against a trustee who is in a like position and under similar circumstances.

As added by P.L.221-2019, SEC.10.
Ind. Code § 30-2-8.6-15 — Indiana Code / Title 30 / Article 2 / Chapter 8.6 / Section 30-2-8.6-15
"State"
Status: in_force

Sec. 15. As used in this chapter, "state" means a state, territory, or possession of the United States, the District of Columbia, or the Commonwealth of Puerto Rico.

As added by P.L.3-2003, SEC.1.
Ind. Code § 30-4-10-55 — Indiana Code / Title 30 / Article 4 / Chapter 10 / Section 30-4-10-55
Decanting power of a settlor of a first trust; settlor intent of second trust
Status: in_force

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.

(b) In determining settlor intent with respect to a second trust, a settlor of the first trust, a settlor of the second trust, and the authorized fiduciary may be considered.

As added by P.L.161-2022, SEC.3.
Ind. Code § 30-5-6-4.5 — Indiana Code / Title 30 / Article 5 / Chapter 6 / Section 30-5-6-4.5
Attorney in fact's authority to hire persons; cost incurred to defend actions of attorney in fact
Status: in_force

Sec. 4.5. (a) An attorney in fact has the authority to employ persons, including:

(1) attorneys;

(2) accountants;

(3) investment advisers; and

(4) agents;

to assist the attorney in fact in the performance of the attorney in fact's fiduciary duties. Any reasonable costs incurred with regard to services rendered for the benefit of the principal shall be paid from the principal's asset holdings.

(b) Except as provided in subsection (c), if an accounting is requested as set forth in section 4 of this chapter, or a petition to settle and allow an account is filed under section 4.1 of this chapter, costs incurred by the attorney in fact:

(1) to defend the actions of the attorney in fact on behalf of the principal with regard to the preparation of the accounting; and

(2) to defend any other actions of the attorney in fact on behalf of the principal;

shall be paid from the principal's asset holdings.

(c) If a court determines that an attorney in fact:

(1) breached the attorney in fact's fiduciary duty or obligation to the principal; or

(2) was engaged in self-dealing activities with the principal's asset holdings;

the court may determine that the attorney in fact is responsible for the payment of the costs incurred under subsection (b).

As added by P.L.165-2002, SEC.9. Amended by P.L.81-2015, SEC.23.
Ind. Code § 30-5-9-7 — Indiana Code / Title 30 / Article 5 / Chapter 9 / Section 30-5-9-7
Co-attorneys in fact
Status: in_force

Sec. 7. If two (2) or more attorneys in fact are authorized to act on behalf of a principal, an attorney in fact who did not join in or consent to the action of one (1) or more of the co-attorneys in fact is not liable for the action. Failure to object to an action is not consent to the action.

As added by P.L.149-1991, SEC.2.
Ind. Code § 30-4-5-3 — Indiana Code / Title 30 / Article 4 / Chapter 5 / Section 30-4-5-3
Repealed
Status: repealed

Formerly: Acts 1971, P.L.416, SEC.6. Repealed by P.L.84-2002, SEC.11.
Ind. Code § 30-4-8-2 — Indiana Code / Title 30 / Article 4 / Chapter 8 / Section 30-4-8-2
Definitions
Status: in_force

Sec. 2. Unless the context requires otherwise, the following definitions apply throughout this chapter:

(1) "Claim" means a right to payment, regardless of whether the right is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, immature, disputed, undisputed, legal, equitable, secured, or unsecured.

(2) "Creditor" means a person who has a claim against the transferor.

(3) "Debt" means liability on a claim.

(4) "Disposition" means a transfer, conveyance, or assignment of property, including a change in the legal ownership of property that occurs when a trustee is substituted for another trustee or when at least one (1) trustee is added. The term also includes the exercise of a power that causes a transfer of property to a trustee. However, the term does not include the release or relinquishment of an interest in property that, until the release or relinquishment, was the subject of a qualified disposition.

(5) "Investment decision" means the retention, purchase, sale, exchange, tender, or other transaction affecting the ownership of or rights in an investment.

(6) "Legacy trust" means an irrevocable trust established under section 3 of this chapter.

(7) "Lender" means a company or entity that extends credit, including but not limited to a financial institution (as defined by IC 28-1-1-3(1)), a company or entity that extends credit under IC 37-1 or IC 37-2, or the successors and assigns of the company or entity.

(8) "Person" means an individual at least eighteen (18) years of age, a corporation, a trust, a limited liability company, a limited liability partnership, a partnership, a governmental entity, the state, or a political subdivision of the state.

(9) "Property" means real property, personal property, or an interest in real or personal property.

(10) "Qualified affidavit" means a sworn affidavit executed under section 5 of this chapter.

(11) "Qualified disposition" means a disposition by a transferor to a legacy trust.

(12) "Qualified trustee" means a person qualified to serve as the trustee of a legacy trust under section 6 of this chapter.

(13) "Transferor" means a person who as:

(A) an owner of property;

(B) a holder of a power of appointment that authorizes the holder to appoint in favor of the holder, the holder's creditors, the holder's estate, or the creditors of the holder's estate; or

(C) a trustee;

directly or indirectly makes a disposition or causes a disposition to be made.

(14) "Trust director" means a person given authority by the terms of a legacy trust to direct, consent to, or disapprove actual or proposed investment decisions, distribution decisions, or other decisions related to property in a legacy trust.

As added by P.L.221-2019, SEC.9. Amended by P.L.115-2026, SEC.71.
Ind. Code § 30-4-2.1-3 — Indiana Code / Title 30 / Article 4 / Chapter 2.1 / Section 30-4-2.1-3
No contest provision enforceable; exceptions
Status: in_force

Sec. 3. (a) Except as provided in subsection (b), a no contest provision is enforceable according to the express terms of the no contest provision.

(b) Subsection (a) does not apply to the following proceedings:

(1) An action brought by a beneficiary if good cause is found by a court.

(2) An action brought by a trustee or other fiduciary serving under the terms of the trust that incorporates a no contest provision, unless the trustee or other fiduciary is a beneficiary against whom the no contest provision is otherwise enforceable.

(3) An agreement, including a nonjudicial settlement agreement, among beneficiaries and any other interested persons to settle or resolve any other matter relating to a trust.

(4) An action to determine whether a proposed or pending motion or proceeding constitutes a contest.

(5) An action brought by or on behalf of a beneficiary to seek a ruling regarding the construction or interpretation of a trust.

(6) An action or objection brought by a beneficiary, executor, or other fiduciary that seeks a ruling on proposed distributions, fiduciary fees, or any other matter where a court has discretion, including actions under IC 30-4-3-22.

(7) An action brought by the attorney general that:

(A) seeks a ruling regarding the construction or interpretation of:

(i) a charitable trust or a trust containing a charitable interest; or

(ii) a no contest provision contained in a trust that purports to penalize a charity or charitable interest; or

(B) institutes any other proceedings relating to a trust if good cause is shown to do so.

As added by P.L.4-2003, SEC.7. Amended by P.L.163-2018, SEC.14.
Ind. Code § 30-5-5-12 — Indiana Code / Title 30 / Article 5 / Chapter 5 / Section 30-5-5-12
Personal maintenance of the principal; family maintenance
Status: in_force

Sec. 12. (a) Language conferring general authority with respect to personal maintenance or family maintenance means the principal authorizes the attorney in fact to do the following:

(1) Perform acts necessary for maintaining the customary standard of living of the principal and the principal's spouse, children, and other persons customarily supported by the principal, including the power to provide the following:

(A) Living quarters by purchase, lease, or other contract, or by payment of operating costs, including interest, amortization payments, repairs, and taxes on premises owned by the principal and occupied by the principal or the principal's family, or dependents.

(B) Normal domestic help for the operation of the household.

(C) Usual vacation and travel expenses.

(D) Usual educational facilities.

(E) Funds for all the current living costs of the principal and the principal's spouse, children, and other dependents, including shelter, clothing, food, and incidentals.

(2) Pay for necessary medical, dental, and surgical care, hospitalization and custodial care for the principal and the principal's spouse, children, and other dependents.

(3) Continue provisions made by the principal before or after the execution of the power of attorney for the principal and the principal's spouse, children, and other persons customarily supported by the principal with respect to automobiles or other means of transportation, including the power to license, insure, and replace automobiles owned by the principal and customarily used by the principal or the principal's spouse, children, or other persons customarily supported by the principal.

(4) Continue charge accounts that have been operated by the principal before or after the execution of the power of attorney for the convenience of the principal or the principal's spouse, children, or other persons customarily supported by the principal, open new accounts the attorney in fact considers desirable to accomplish a purpose permitted under this section and pay the items charged on those accounts by a person authorized or permitted by the principal to make charges prior to the execution of the power of attorney.

(5) Continue payments incidental to membership or affiliation of the principal in a church, a club, a society, an order, or other organization and continue contributions to those organizations.

(6) Demand, receive, or obtain by action or proceeding money or other things of value to which the principal is or may become entitled as salary, wages, commission, or other remuneration for services performed, as a dividend or distribution on a stock, as interest or principal on an indebtedness, or as a periodic distribution of profits for a partnership or business in which the principal has or claims an interest and endorse, collect, or otherwise realize upon an instrument for the payment received.

(7) Use an asset of the principal for the performance of a power permitted under this section, including the power to draw money by check or otherwise from a bank deposit of the principal, sell an interest in real property, a bond, a share, a commodity interest, tangible personal property, or other asset of the principal, borrow money and pledge as security for a loan an asset, including insurance, that belongs to the principal.

(8) Execute, acknowledge, verify, seal, file, and deliver an application, a consent, a petition, a notice, a release, a waiver, an agreement, or other instrument that the attorney in fact considers useful to accomplish a purpose permitted under this section.

(9) Hire, discharge, and compensate an attorney, accountant, expert witness, or other assistant when the attorney in fact considers the action to be desirable for the proper execution by the attorney in fact of a power described in this section and keep needed records.

(10) Perform any other acts for the welfare of the spouse, children, or other persons customarily supported by the principal or for the preservation and maintenance of other personal relationships of the principal to parents, relatives, friends, and organizations as are appropriate.

(b) The powers described in this section are exercisable equally whether the acts required for their execution relate to real or personal property owned by the principal at the time of the giving of the power of attorney or acquired after that time, whether located in Indiana or in another jurisdiction.

As added by P.L.149-1991, SEC.2. Amended by P.L.105-2026, SEC.8.
Ind. Code § 30-4-10-47 — Indiana Code / Title 30 / Article 4 / Chapter 10 / Section 30-4-10-47
Second-trust instrument; liability of authorized fiduciary
Status: in_force

Sec. 47. (a) Except as otherwise provided in this section, a second-trust instrument must not relieve an authorized fiduciary from liability for breach of trust to a greater extent than the first-trust instrument.

(b) A second trust instrument may provide for indemnification of an authorized fiduciary of the first trust or another person acting in a fiduciary capacity under the first trust for any liability or claim that would have been payable from the first trust if the decanting power had not been exercised.

(c) A second-trust instrument must not reduce fiduciary liability in the aggregate.

(d) Subject to subsection (c), a second-trust instrument may divide and reallocate fiduciary powers among fiduciaries, including one (1) or more trustees, distribution advisors, investment advisors, trust protectors, or other persons, and relieve a fiduciary from liability for an act or failure to act of another fiduciary as permitted by the laws of this state other than this chapter.

As added by P.L.161-2022, SEC.3.
Ind. Code § 30-4-1-7 — Indiana Code / Title 30 / Article 4 / Chapter 1 / Section 30-4-1-7
Trust Code Study Commission report
Status: repealed

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.
Ind. Code § 30-4-2-14 — Indiana Code / Title 30 / Article 4 / Chapter 2 / Section 30-4-2-14
Assignment of beneficiary's interest
Status: in_force

Sec. 14. (Assignment of Beneficiary's Interest)

(a) If the terms of the trust give the trustee the power to sell the trust property upon direction by the beneficiary or other person or to sell it after a stipulated period of time in the absence of a direction as provided in 30-4-2-13, the beneficiary may treat his interest as personal property and may assign it to any person notwithstanding the provisions of 30-4-2-7(c).

(b) The trustee will be bound by an assignment made under subsection (a) of this section only after he receives written notice of it.

Formerly: Acts 1971, P.L.416, SEC.3.
Ind. Code § 30-2-14-0.1 — Indiana Code / Title 30 / Article 2 / Chapter 14 / Section 30-2-14-0.1
Application of chapter; application of certain amendments to chapter
Status: in_force

Sec. 0.1. (a) This chapter applies to the following:

(1) Every trust existing on or created after January 1, 2003, except as otherwise expressly provided in this chapter or by the terms of the trust.

(2) Every decedent's estate existing on or created after January 1, 2003, to the extent that under other applicable law or the decedent's will, the personal representative of the estate is required or allowed to account for and distribute income received during administration of the estate separately from the corpus.

(b) The amendments made to section 31 of this chapter by P.L.143-2009 apply to a trust described in section 31(h) of this chapter, on and after the following dates:

(1) If the trust is not funded as of July 1, 2009, the date of the decedent's death.

(2) If the trust is initially funded in the calendar year beginning January 1, 2009, the date of the decedent's death.

(3) If the trust is not described in subdivision (1) or (2), January 1, 2009.

(c) The amendments made to this section and to sections 3, 12, 14, 18, 19, 20, 21, and 38 of this chapter and the addition of section 13.5 of this chapter by legislation enacted in the 2014 regular session of the general assembly apply to the following:

(1) The estate of a decedent dying on or after July 1, 2013.

(2) In the case of a trust existing on or created after January 1, 2003:

(A) to the principal and income receipts of the trust; and

(B) to distributions received and made by the trust before, on, or after July 1, 2013.

As added by P.L.220-2011, SEC.486. Amended by P.L.51-2014, SEC.8.
Ind. Code § 30-2-14-24 — Indiana Code / Title 30 / Article 2 / Chapter 14 / Section 30-2-14-24
Distributions of principal and income from trust or estate
Status: in_force

Sec. 24. A trustee shall allocate to:

(1) income an amount received as a distribution of income; and

(2) principal an amount received as a distribution of principal;

from a trust or an estate in which the trust has an interest other than a purchased interest. If a trustee purchases an interest in a trust that is an investment entity, or a decedent or donor transfers an interest in such a trust to a trustee, section 23 or 37 of this chapter applies to a receipt from the trust.

As added by P.L.84-2002, SEC.2.
Ind. Code § 30-2-15-3 — Indiana Code / Title 30 / Article 2 / Chapter 15 / Section 30-2-15-3
"Net fair market value"
Status: in_force

Sec. 3. As used in this chapter, "net fair market value" means the fair market value of each asset comprising the trust reduced by the liens, debts, and encumbrances of the trust, regardless of whether the liens, debts, and encumbrances are allocable to a specific asset.

As added by P.L.3-2003, SEC.2.
Ind. Code § 30-2-9-0.1 — Indiana Code / Title 30 / Article 2 / Chapter 9 / Section 30-2-9-0.1
Repealed
Status: repealed

As added by P.L.220-2011, SEC.482. Repealed by P.L.63-2012, SEC.31.
Ind. Code § 30-4-10-39 — Indiana Code / Title 30 / Article 4 / Chapter 10 / Section 30-4-10-39
Petition to determine the permissibility of the decanting power; judicial modification of fiduciary compensation
Status: in_force

Sec. 39. (a) Upon a petition by an authorized fiduciary, a beneficiary, or a person entitled to notice under section 35 of this chapter or with respect to a charitable interest by the attorney general or other person that has standing to enforce the charitable interest, the court may:

(1) provide instructions to the authorized fiduciary about whether a proposed exercise of the decanting power is permitted under this chapter and consistent with the fiduciary duties of the authorized fiduciary;

(2) appoint a special fiduciary and authorize the special fiduciary to determine whether the exercise of the decanting power is proper under this chapter and to exercise the decanting power;

(3) approve an exercise of the decanting power;

(4) determine that a proposed or attempted exercise of the decanting power is ineffective because:

(A) after applying section 52 of this chapter, the proposed or attempted exercise does not comply with this chapter; or

(B) the proposed or attempted exercise is an abuse of the fiduciary's discretion or a breach of a fiduciary duty;

(5) determine the extent section 52 of this chapter applies to a prior exercise of the decanting power;

(6) provide instructions to the trustee regarding the application of section 52 of this chapter to a prior exercise of the decanting power; or

(7) order relief to carry out the purposes of this chapter.

(b) Upon a petition by an authorized fiduciary, the court may approve:

(1) an increase in the fiduciary's compensation under section 46 of this chapter; or

(2) a modification under section 48 of this chapter of a provision granting a person the right to remove or replace the fiduciary.

As added by P.L.161-2022, SEC.3.
Ind. Code § 30-2-5-9 — Indiana Code / Title 30 / Article 2 / Chapter 5 / Section 30-2-5-9
Tax obligations
Status: in_force

Sec. 9. This chapter does not affect any obligation of a corporation or transfer agent with respect to estate, inheritance, succession, or other taxes imposed by the laws of this state.

Formerly: Acts 1961, c.124, s.9. As amended by Acts 1982, P.L.171, SEC.102.
Ind. Code § 30-4-3-5 — Indiana Code / Title 30 / Article 4 / Chapter 3 / Section 30-4-3-5
Conflict of interest in exercise of powers
Status: in_force

Sec. 5. (a) If the duty of the trustee in the exercise of any power conflicts with the trustee's individual interest or the trustee's interest as trustee of another trust, the power may be exercised only under one (1) of the following circumstances:

(1) The trustee receives court authorization to exercise the power with notice to interested persons as the court may direct.

(2) The trustee gives notice of the proposed action in accordance with IC 30-2-14-16 and:

(A) the trustee receives the written authorization of all interested persons to the proposed action within the period specified in the notice of the proposed action; or

(B) a beneficiary objects to the proposed action within the period specified in the notice of the proposed action, but the trustee receives court authorization to exercise the power.

(3) The exercise of the power is specifically authorized by the terms of the trust.

(b) For purposes of this section, the interest of an affiliate of the trustee will be deemed to be the interest of the trustee.

Formerly: Acts 1971, P.L.416, SEC.4. As amended by P.L.61-2006, SEC.7.
Ind. Code § 30-2-13-18 — Indiana Code / Title 30 / Article 2 / Chapter 13 / Section 30-2-13-18
Compensation and expenses of trustee; withdrawal of tax liability
Status: in_force

Sec. 18. A trustee or an escrow agent may be reimbursed for necessary expenses and be paid reasonable compensation for those services from the trust or escrow. A trustee or an escrow agent shall also be permitted to withdraw from trust or escrow any federal or state tax liability assessed against the purchasers' interest in the trust or escrow.

As added by P.L.200-1991, SEC.1. Amended by P.L.114-1999, SEC.14.
Ind. Code § 30-2-14-20 — Indiana Code / Title 30 / Article 2 / Chapter 14 / Section 30-2-14-20
Income interest; asset subject to trust
Status: in_force

Sec. 20. (a) An income beneficiary is entitled to net income from the date on which the income interest begins. An income interest begins on the date specified in the terms of the trust or, if no date is specified, on the date an asset becomes subject to a trust or successive income interest.

(b) An asset becomes subject to a trust on the following dates:

(1) On the date the asset is transferred to the trust, in the case of an asset that is transferred to a trust during the transferor's life.

(2) On the date the asset is distributed to the trust from the decedent's estate, if the income received during the administration of the estate was accounted for and distributed by the estate as part of the corpus of the estate in accordance with IC 29-1-17-7.

(3) On the date of the decedent's death if, under the terms of the decedent's will or other applicable law, income received during administration of the decedent's estate was accounted for and distributed by the estate as income, and not as part of the corpus of the estate.

(4) On the date of an individual's death, in the case of an asset that is not part of the probate estate (as defined in IC 29-1-1-3) and that is transferred to a trust or becomes a part of a trust because of the individual's death.

(c) An asset becomes subject to a successive income interest on the day after the preceding income interest ends, as determined under subsection (d), even if there is an intervening period of administration to wind up the preceding income interest.

(d) An income interest ends on the day before an income beneficiary dies or another terminating event occurs, or on the last day of a period during which there is no beneficiary to whom a trustee may distribute income.

(e) This section applies only for purposes of determining the period in which an income beneficiary is entitled or eligible to receive any net income of a trust. This section does not control how receipts and disbursements are allocated to or between principal and income during that period. Amounts received by a trust from a decedent's estate or another trust as a distribution of principal may be allocable to principal under section 24 of this chapter even to the extent the amounts received include income of the distributing estate or trust received or accrued after the beneficiary's income interest begins.

As added by P.L.84-2002, SEC.2. Amended by P.L.51-2014, SEC.15.
Ind. Code § 30-2-14-29 — Indiana Code / Title 30 / Article 2 / Chapter 14 / Section 30-2-14-29
Life insurance policy proceeds; proceeds of other contracts
Status: in_force

Sec. 29. (a) Except as otherwise provided in subsection (b), a trustee shall allocate to principal the proceeds of a life insurance policy or other contract in which the trust or its trustee is named as beneficiary, including a contract that insures the trust or its trustee against loss for damage to, destruction of, or loss of title to a trust asset. The trustee shall allocate dividends on an insurance policy to income if the premiums on the policy are paid from income, and to principal if the premiums are paid from principal.

(b) A trustee shall allocate to income proceeds of a contract that insures the trustee against loss of occupancy or other use by an income beneficiary, loss of income, or, subject to section 25 of this chapter, loss of profits from a business.

(c) This section does not apply to a contract to which section 31 of this chapter applies.

As added by P.L.84-2002, SEC.2.
Ind. Code § 30-2-13-11 — Indiana Code / Title 30 / Article 2 / Chapter 13 / Section 30-2-13-11
"Trustee" or "escrow agent, acting as a fiduciary"
Status: in_force

Sec. 11. (a) As used in this chapter, "trustee" or "escrow agent, acting as a fiduciary", means a:

(1) bank;

(2) trust company;

(3) savings association; or

(4) credit union;

that maintains an office in Indiana and is qualified under state or federal law to serve as a trustee or escrow agent, acting as a fiduciary.

(b) For a contract using a life insurance policy as consideration, the term also includes a life insurance company or other entity that establishes a trust for the purposes of holding and administering life insurance policies issued by an insurance company to fund contracts under this chapter. Notwithstanding any other law to the contrary, a life insurance company or other entity acting as a trustee shall comply with this chapter.

(c) For a contract using a previously issued life insurance policy as consideration, the seller is considered to be a qualified trustee if ownership is irrevocably assigned to the seller in conjunction with an assignment of death benefits.

As added by P.L.200-1991, SEC.1. Amended by P.L.241-1995, SEC.5; P.L.79-1998, SEC.94; P.L.114-1999, SEC.6.
Ind. Code § 30-5-2-3.5 — Indiana Code / Title 30 / Article 5 / Chapter 2 / Section 30-5-2-3.5
"Digital asset"
Status: in_force

Sec. 3.5. "Digital asset" has the meaning set forth in IC 32-39-1-10.

As added by P.L.137-2016, SEC.11.
Ind. Code § 30-2-8.6-5 — Indiana Code / Title 30 / Article 2 / Chapter 8.6 / Section 30-2-8.6-5
"Adult"
Status: in_force

Sec. 5. As used in this chapter, "adult" means an individual who is at least eighteen (18) years of age.

As added by P.L.3-2003, SEC.1.
Ind. Code § 30-2-8.6-13 — Indiana Code / Title 30 / Article 2 / Chapter 8.6 / Section 30-2-8.6-13
"Person"
Status: in_force

Sec. 13. As used in this chapter, "person" means an individual, corporation, business trust, estate, trust, partnership, joint venture, association, or any other legal or commercial entity.

As added by P.L.3-2003, SEC.1.
Ind. Code § 30-5-5-4 — Indiana Code / Title 30 / Article 5 / Chapter 5 / Section 30-5-5-4
Bond, share, and commodity transactions
Status: in_force

Sec. 4. (a) Language conferring general authority with respect to bond, share, and commodity transactions means the principal authorizes the attorney in fact to do the following:

(1) Accept as a gift or as security for a loan, reject, demand, buy, receive, or otherwise acquire ownership or possession of a bond, a share, an instrument of similar character, a commodity interest, or an instrument with respect to the bond, share, or interest, together with the interest, dividends, proceeds, or other distributions connected with the instruments.

(2) Sell, sell short, exchange, transfer with or without a guaranty, release, surrender, hypothecate, pledge, grant options concerning, loan, trade in, or otherwise dispose of a bond, a share, an instrument of similar character, a commodity interest, or an instrument with respect to the bond, share, or instrument.

(3) Release in whole or in part, assign the whole or a part of, satisfy in whole or in part, and enforce by action or proceeding a pledge, an encumbrance, a lien, or other claim as to a bond, a share, an instrument of similar character, a commodity interest, or an interest with respect to the bond, share, or interest when the pledge, lien, or other claim is owned or claimed to be owned by the principal.

(4) Perform acts of management or conservation with respect to a bond, a share, an instrument of similar character, a commodity interest, or an interest with respect to the bond, share, or interest, owned or claimed to be owned by the principal, or in which the principal claims to have an interest, including the power to do the following:

(A) Insure against casualty, liability, or loss.

(B) Obtain, regain possession of, or protect the principal's interest by action or proceeding.

(C) Pay, compromise, or contest taxes and assessments.

(D) Apply for and receive refunds for taxes and assessments.

(E) Consent to and participate in a reorganization, recapitalization, liquidation, merger, consolidation, sale, lease, or other change in or revival of a corporation or an association, in the financial structure of a corporation or an association, or in the priorities, voting rights, or other special rights with respect to the corporation or association.

(F) Become a depositor with a protective, reorganization, or similar committee of the bond, share, instrument of similar character, commodity interest, or an interest with respect to the bond, share, or interest belonging to the principal, and make payments reasonably incident to becoming a depositor.

(G) Exercise or sell an option, a conversion, or a similar right.

(H) Vote in person or by the granting of a proxy with or without the power of substitution, either discretionary, general, or otherwise.

(5) Carry in the name of a nominee selected by the attorney in fact evidence of the ownership of a bond, a share, an instrument of similar character, a commodity interest, or an interest with respect to the bond, share, or interest belonging to the principal.

(6) Employ in any way believed to be desirable by the attorney in fact a bond, a share, an instrument of similar character, a commodity interest, or an interest with respect to the bond, share, or interest in which the principal has or claims to have an interest for the protection or continued operation of a speculative or margin transaction begun or personally guaranteed in whole or in part by the principal.

(7) Demand, receive, or obtain by action or proceeding money or other things of value to which the principal is, may become, or claims to be entitled as the proceeds of an interest in a bond, a share, an instrument of similar character, a commodity interest, or an interest with respect to the bond, share, or interest, or of a transaction permitted under this section, conserve, invest, disburse, or use anything received for a purpose permitted under this section, and reimburse the attorney in fact for expenditures properly made in the execution of powers conferred upon the attorney in fact.

(8) Agree and contract in any manner and on any terms with a broker or other person the attorney in fact selects to accomplish a purpose permitted under this section and perform, rescind, reform, release, or modify the agreement or contract or a similar agreement made by or on behalf of the principal.

(9) Execute, acknowledge, seal, and deliver a consent, an agreement, an authorization, an assignment, a revocation, a notice, a waiver of notice, a check, or an instrument the attorney in fact considers useful to accomplish a purpose permitted under this section.

(10) Execute, acknowledge, and file a report or certificate required by law or governmental regulation.

(11) Prosecute, defend, submit to arbitration, settle, and propose or accept a compromise with respect to a claim existing in favor of or against the principal based on or involving a bond, share, or commodity transaction, or intervene in a related action or proceeding.

(12) Hire, discharge, and compensate an attorney, accountant, expert witness, or other assistant when the attorney in fact considers the action to be desirable for the proper execution by the attorney in fact of a power described in this section and keep needed records.

(13) Perform any other acts with respect to a bond, a share, an instrument of similar character, a commodity, or an interest with respect to a commodity.

(b) The powers described in this section are exercisable equally with respect to a bond, a share, an instrument of similar character, a commodity, or an instrument with respect to a commodity owned by the principal at the time of the giving of the power of attorney or acquired after that time, whether located in Indiana or in another jurisdiction.

As added by P.L.149-1991, SEC.2.
Ind. Code § 30-2-5-8 — Indiana Code / Title 30 / Article 2 / Chapter 5 / Section 30-2-5-8
Territorial application
Status: in_force

Sec. 8. (a) The rights and duties of a corporation and its transfer agents in registering a security in the name of a fiduciary or in making a transfer of a security pursuant to an assignment by a fiduciary are governed by the law of the jurisdiction under whose laws the corporation is organized.

(b) This chapter applies to the rights and duties of a person other than the corporation and its transfer agents with regard to acts and omissions in this state in connection with the acquisition, disposition, assignment, or transfer of a security by or to a fiduciary and of a person who guarantees in this state the signature of a fiduciary in connection with such a transaction.

Formerly: Acts 1961, c.124, s.8. As amended by Acts 1982, P.L.171, SEC.101.
Ind. Code § 30-4-9-7 — Indiana Code / Title 30 / Article 4 / Chapter 9 / Section 30-4-9-7
Rules relating to payback provisions; charitable interest
Status: in_force

Sec. 7. A trust director is subject to the same rules as a trustee in a like position and under similar circumstances in the exercise or nonexercise of a power of direction or further power under section 6(b)(1) of this chapter regarding:

(1) a payback provision in the terms of a trust necessary to comply with the reimbursement requirements under 42 U.S.C. 1396p(d)(4)(A); or

(2) a charitable interest in the trust, including notice regarding the interest to the attorney general under IC 30-4-6-6.

As added by P.L.221-2019, SEC.10.
Ind. Code § 30-1-7-3 — Indiana Code / Title 30 / Article 1 / Chapter 7 / Section 30-1-7-3
Hearing; order of court
Status: in_force

Sec. 3. Upon the filing of such petition, the court shall proceed to hear and determine the same either in term time or vacation. If the court, after being duly advised in the premises, finds that the execution of said option to purchase would be to the best interests of the ward's estate and that said option is in proper form and that the price to be paid for said option and for the interest to be acquired if the option is exercised is not less than the established price being paid in the area; the court may thereupon enter an order authorizing said guardian to sign and execute said option and lease or deed, in the event the option is exercised, for and upon behalf of his ward.

Formerly: Acts 1943, c.105, s.3.
Ind. Code § 30-4-9-4 — Indiana Code / Title 30 / Article 4 / Chapter 9 / Section 30-4-9-4
Applicable law
Status: in_force

Sec. 4. The common law and principles of equity supplement this chapter, except to the extent modified by this chapter or law of Indiana other than this chapter.

As added by P.L.221-2019, SEC.10.
Ind. Code § 30-4-10-10 — Indiana Code / Title 30 / Article 4 / Chapter 10 / Section 30-4-10-10
"Court"
Status: in_force

Sec. 10. As used in this chapter, "court" has the meaning set forth in IC 30-4-1-2(6).

As added by P.L.161-2022, SEC.3.
Ind. Code § 30-5-11-7 — Indiana Code / Title 30 / Article 5 / Chapter 11 / Section 30-5-11-7
Delivery of electronic power of attorney following death of principal
Status: in_force

Sec. 7. (a) After a principal's death becomes known to a custodian or other person in possession or control of:

(1) the electronic record associated with the principal's electronic power of attorney; or

(2) a complete converted copy of the principal's electronic power of attorney;

the custodian or other person in possession of an item described in subdivision (1) or (2) shall deliver the item to the attorney in fact.

(b) A custodian or other person in possession of an item described in subsection (a)(1) or (a)(2) may use any commercially reasonable method of delivery to comply with this section.

As added by P.L.40-2018, SEC.4. Amended by P.L.10-2019, SEC.122.
Ind. Code § 30-4-6-13 — Indiana Code / Title 30 / Article 4 / Chapter 6 / Section 30-4-6-13
Application of rules of procedure
Status: in_force

Sec. 13. (Application of Rules of Procedure)

Except as otherwise provided in this article, the Indiana Rules of Procedure shall apply with respect to procedure in any matter arising under this article.

Formerly: Acts 1971, P.L.416, SEC.7.
Ind. Code § 30-4-10-4 — Indiana Code / Title 30 / Article 4 / Chapter 10 / Section 30-4-10-4
"Authorized fiduciary"
Status: in_force

Sec. 4. As used in this chapter, "authorized fiduciary" means:

(1) a trustee, trust director, or other fiduciary, other than a settlor, that has discretion to distribute or direct a trustee to distribute part or all of the principal of the first trust to one (1) or more current beneficiaries;

(2) a special fiduciary appointed under section 39 of this chapter; or

(3) a special-needs fiduciary under section 43 of this chapter.

As added by P.L.161-2022, SEC.3.
Ind. Code § 30-4-3-1.5 — Indiana Code / Title 30 / Article 4 / Chapter 3 / Section 30-4-3-1.5
Revocation or amendment of trust by settlor
Status: in_force

Sec. 1.5. (a) This subsection applies to a trust created under an instrument executed after June 30, 2005. Unless the terms of a trust expressly provide that the trust is irrevocable, the settlor may revoke or amend the trust.

(b) This subsection applies to a revocable trust created or funded by at least two (2) settlors. Unless the terms of the trust provide otherwise:

(1) to the extent the trust consists of community property, the trust may be:

(A) revoked by either spouse acting alone; and

(B) amended only by the joint action of both spouses; and

(2) to the extent the trust consists of property other than community property, each settlor may revoke or amend the trust with regard to the part of the trust property attributable to that settlor's contribution.

(c) The settlor may revoke or amend a revocable trust as follows:

(1) The settlor may comply with a method provided in the terms of the trust.

(2) If the terms of the trust do not provide a method or the terms of the trust provide a method that is not expressly made the exclusive method to revoke or amend the trust, the settlor may revoke or amend the trust by:

(A) executing a later will or codicil that:

(i) expressly refers to the trust; or

(ii) specifically devises property that would otherwise have passed according to the terms of the trust; or

(B) any other method that:

(i) is in writing; and

(ii) manifests clear and convincing evidence of the settlor's intent.

(d) If a settlor revokes a revocable trust, the trustee shall deliver the trust property:

(1) as the settlor directs; or

(2) as the trust instrument requires.

(e) This subsection applies to a revocable trust created or funded by one (1) settlor after the settlor's revocation of the trust. Unless the terms of the trust provide otherwise, if the settlor revokes the trust and the trustee does not deliver the trust property under subsection (d) prior to or at the revoking settlor's death, the remaining trust property becomes part of the revoking settlor's probate estate.

(f) This subsection applies after a settlor's revocation of a revocable trust created or funded by at least two (2) settlors. Unless the terms of the trust provide otherwise, if a settlor revokes a trust and the trustee does not deliver the trust property under subsection (d) at the revoking settlor's death, the remaining trust property that the settlor contributed to the trust becomes part of the revoking settlor's probate estate.

(g) A settlor's powers with respect to revocation, amendment, and distribution of trust property may be exercised by an agent under a power of attorney only to the extent expressly authorized by the terms of the trust or the power of attorney.

(h) A guardian of a settlor may exercise the settlor's powers with respect to revocation, amendment, or distribution of trust property only with the approval of the court supervising the guardianship.

(i) A trustee who does not know that a trust has been revoked or amended is not liable to the settlor or settlor's successors in interest for distributions made and other actions taken on the assumption that the trust had not been revoked or amended.

As added by P.L.238-2005, SEC.30. Amended by P.L.38-2023, SEC.16.
Ind. Code § 30-1-8-6 — Indiana Code / Title 30 / Article 1 / Chapter 8 / Section 30-1-8-6
Repealed
Status: repealed

Formerly: Acts 1949, c.70, s.6. As amended by Acts 1981, P.L.261, SEC.1. Repealed by P.L.80-1989, SEC.18.
Ind. Code § 30-5-5-6 — Indiana Code / Title 30 / Article 5 / Chapter 5 / Section 30-5-5-6
Business operating transactions
Status: in_force

Sec. 6. (a) Language conferring general authority with respect to business operating transactions means the principal authorizes the attorney in fact to do the following:

(1) Discharge and perform a duty or liability, exercise a right, a power, a privilege, or an option the principal has or claims to have under a partnership agreement, whether the principal is a general or limited partner, enforce the terms of a partnership agreement for the protection of the principal by action or proceeding as the attorney in fact considers desirable or necessary, and defend, submit to arbitration, settle, or compromise an action or other legal proceeding in which the principal is a party because of membership in a partnership.

(2) Exercise in person or by proxy or enforce by action or proceeding a right, a power, a privilege, or an option the principal has as the holder of a bond, share, or other instrument of similar character, and defend, submit to arbitration, settle, or compromise an action or legal proceeding to which the principal is a party because of a bond, share, or other instrument of similar character.

(3) With respect to a business owned solely by the principal, to perform the following:

(A) Continue, modify, renegotiate, extend, and terminate contractual arrangements made with a person, an entity, a firm, an association, or a corporation by or on behalf of the principal with respect to the business enterprise prior to the granting of the power of attorney.

(B) Determine the policy of the business enterprise, including the following:

(i) The location of the site or sites to be used for the enterprise's operation.

(ii) The nature and extent of business to be undertaken by the enterprise.

(iii) The methods of manufacturing, selling, merchandising, financing, accounting, and advertising to be employed in the enterprise's operation.

(iv) The amounts and types of insurance to be carried.

(v) The mode of securing, compensating, and dealing with accountants, attorneys, servants, and other agents and employees required for the operation of the enterprise.

(C) Agree and contract in any manner and on any terms with any person on any terms the attorney in fact considers desirable or necessary to make any or all decisions of the attorney in fact as to policy and rescind, reform, release, or modify an agreement or a contract made by or on behalf of the principal.

(D) Change the name or the form of organization under which the business enterprise is operated, enter into a partnership agreement with other persons, or organize a corporation to take over the business or a part of the business that the attorney in fact considers necessary or desirable.

(E) Demand and receive money that is or becomes due to the principal or that may be claimed by the principal or on the principal's behalf in the operation of the business enterprise, control and disburse the funds in the operation of the enterprise in a way that the attorney in fact considers desirable or necessary, and engage in banking transactions the attorney in fact considers desirable or necessary to execute a power permitted under this subdivision.

(4) Prepare, sign, file, and deliver reports, compilations of information, returns, or other papers with respect to a business operating transaction of the principal that are required by a governmental agency, a department, or an instrumentality or that the attorney in fact considers desirable or necessary, and make related payments.

(5) Pay, compromise, or contest taxes or assessments and do acts the attorney in fact considers desirable or necessary to protect the principal from illegal or unnecessary taxation, fines, penalties, or assessments in connection with the principal's business operations, including the power to attempt to recover, in any manner permitted by law, sums paid before or after the execution of the power of attorney as taxes, fines, penalties, or assessments.

(6) Demand, receive, or obtain by action or proceeding money or other things of value to which the principal is, may become, or claims to be entitled to as the proceeds of a business operation of the principal, conserve, invest, disburse, or use anything received for a purpose permitted under this section, and reimburse the attorney in fact for expenditures properly made in the execution of powers conferred upon the attorney in fact.

(7) Execute, acknowledge, seal, and deliver a deed, an assignment, a mortgage, a lease, a notice, a consent, an agreement, an authorization, a check, or other instrument that the attorney in fact considers useful to accomplish a purpose permitted under this section.

(8) Prosecute, defend, submit to arbitration, settle, and propose or accept a compromise with respect to a claim existing in favor of or against the principal based on or involving a business operating transaction or intervene in an action or a proceeding relating to a claim.

(9) Hire, discharge, and compensate an attorney, accountant, expert witness, or other assistant when the attorney in fact considers the action to be desirable for the proper execution by the attorney in fact of a power described in this section and keep needed records.

(10) Perform any other acts the attorney in fact considers desirable or necessary for the furtherance or protection of the interests of the principal in a business.

(b) The powers described in this section are exercisable equally with respect to a business in which the principal is interested at the time of the giving of the power of attorney or in which the principal becomes interested after that time, whether located in Indiana or in another jurisdiction.

As added by P.L.149-1991, SEC.2.
Ind. Code § 30-2-15-8 — Indiana Code / Title 30 / Article 2 / Chapter 15 / Section 30-2-15-8
"Year"
Status: in_force

Sec. 8. As used in this chapter, "year" means a calendar year.

As added by P.L.3-2003, SEC.2.
Ind. Code § 30-5-10-1 — Indiana Code / Title 30 / Article 5 / Chapter 10 / Section 30-5-10-1
Revocation of power; record
Status: in_force

Sec. 1. (a) Except as otherwise stated in the power of attorney, an executed power of attorney may be revoked only by a written instrument of revocation that:

(1) identifies the power of attorney revoked; and

(2) is signed by the principal.

(b) A revocation under subsection (a) is not effective unless the attorney in fact or other person has actual knowledge of the revocation.

(c) If an executed power of attorney was recorded under IC 30-5-3-3, the revocation of the power of attorney must:

(1) be recorded; and

(2) reference the book and page or instrument number where the instrument creating the power of attorney is recorded.

As added by P.L.149-1991, SEC.2.
Ind. Code § 30-5-4-2 — Indiana Code / Title 30 / Article 5 / Chapter 4 / Section 30-5-4-2
Time power becomes effective; incapacity of the principal
Status: in_force

Sec. 2. (a) Except as provided in subsection (b), a power of attorney is effective on the date the power of attorney is signed in accordance with section 1(a)(4) of this chapter.

(b) A power of attorney may:

(1) specify the date on which the power will become effective; or

(2) become effective upon the occurrence of an event.

(c) If a power of attorney becomes effective upon the principal's incapacity and:

(1) the principal has not authorized a person to determine whether the principal is incapacitated; or

(2) the person authorized is unable or unwilling to make the determination;

the power of attorney becomes effective upon a determination that the principal is incapacitated that is set forth in a writing or other record by a physician, licensed psychologist, or judge.

(d) A person authorized by the principal in the power of attorney to determine that the principal is incapacitated may:

(1) act as the principal's personal representative under the Health Insurance Portability and Accountability Act of 1996 (42 U.S.C. 201 et seq.) and any rules or regulations issued under that act; and

(2) obtain access to the principal's health care information and communicate with the principal's health care provider.

As added by P.L.149-1991, SEC.2. Amended by P.L.101-2008, SEC.10; P.L.143-2009, SEC.27; P.L.185-2021, SEC.23.
Ind. Code § 30-1-8-4 — Indiana Code / Title 30 / Article 1 / Chapter 8 / Section 30-1-8-4
Participation; proportionate interest
Status: in_force

Sec. 4. Each fiduciary investment placed in every such common trust fund shall participate on the basis of a proportionate interest in all of the assets and income of the fund, and may be evidenced in writing or otherwise at the option of the bank administering the fund, but not in any form which purports to be negotiable or assignable.

Formerly: Acts 1949, c.70, s.4.
Ind. Code § 30-1-9-13 — Indiana Code / Title 30 / Article 1 / Chapter 9 / Section 30-1-9-13
Repealed
Status: repealed

Formerly: Acts 1852, 1RS, c.113, s.13. Repealed by Acts 1971, P.L.416, SEC.8.
Ind. Code § 30-4-1.5-12 — Indiana Code / Title 30 / Article 4 / Chapter 1.5 / Section 30-4-1.5-12
Filing of electronic trust instrument
Status: in_force

Sec. 12. Any interested person who files a proceeding under this article regarding an electronic trust instrument may file a complete converted copy of the electronic trust instrument with the clerk of the court under IC 30-4-6.

As added by P.L.40-2018, SEC.3. Amended by P.L.99-2024, SEC.12.
Ind. Code § 30-4-10-46 — Indiana Code / Title 30 / Article 4 / Chapter 10 / Section 30-4-10-46
Compensation of authorized fiduciary
Status: in_force

Sec. 46. (a) If a first-trust instrument specifies an authorized fiduciary's compensation, the fiduciary may not exercise the decanting power to increase the fiduciary's compensation above the specified compensation unless:

(1) all qualified beneficiaries of the second trust consent to the increase in a signed record; or

(2) the increase is approved by the court.

(b) If a first-trust instrument does not specify an authorized fiduciary's compensation, the fiduciary may not exercise the decanting power to increase the fiduciary's compensation above the compensation permitted by this article unless:

(1) all qualified beneficiaries of the second trust consent to the increase in a signed record; or

(2) the increase is approved by the court.

(c) A change in an authorized fiduciary's compensation that is incidental to other changes made by the exercise of the decanting power is not an increase in the fiduciary's compensation for purposes of subsections (a) and (b).

As added by P.L.161-2022, SEC.3.
Ind. Code § 30-2-13-4 — Indiana Code / Title 30 / Article 2 / Chapter 13 / Section 30-2-13-4
"Contract"
Status: in_force

Sec. 4. As used in this chapter, "contract" means a written agreement between a purchaser and a seller that:

(1) obligates the seller to provide prepaid services or merchandise, or both, for a named individual; and

(2) becomes irrevocable thirty (30) days after the written agreement is signed by the purchaser and seller.

As added by P.L.200-1991, SEC.1.
Ind. Code § 30-4-6-1 — Indiana Code / Title 30 / Article 4 / Chapter 6 / Section 30-4-6-1
Jurisdiction
Status: in_force

Sec. 1. (Jurisdiction)

Jurisdiction in this state for all matters arising under this article shall be with the court exercising probate jurisdiction.

Formerly: Acts 1971, P.L.416, SEC.7.
Ind. Code § 30-4-5-21 — Indiana Code / Title 30 / Article 4 / Chapter 5 / Section 30-4-5-21
Trusts for benevolent public purpose; general rules
Status: in_force

Sec. 21. Subject to the provisions of this section and of section 23 of this chapter, every trust for a benevolent public purpose that is subject to the provisions of Subchapter A of Chapter 42 of Subtitle D of the Internal Revenue Code shall:

(1) distribute each taxable year amounts sufficient for such trust to avoid liability for the tax imposed by Section 4942 of the Internal Revenue Code, except that this subdivision shall not apply to split-interest trusts;

(2) not engage in any act of self-dealing (as defined in Section 4941(d) of the Internal Revenue Code) which would subject such trust to liability for the taxes imposed by Section 4941 of the Internal Revenue Code;

(3) not retain any excess business holding (as defined in Section 4943(c) of the Internal Revenue Code) which would subject such trust to liability for the taxes imposed by Section 4943 of the Internal Revenue Code;

(4) not make any investment which would jeopardize the carrying out of any of such trust's exempt purposes (within the meaning of Section 4944 of the Internal Revenue Code) and which would subject such trust to liability for the taxes imposed by Section 4944 of the Internal Revenue Code; and

(5) not make any taxable expenditure (as defined in Section 4945(d) of the Internal Revenue Code) which would subject such trust to liability for the taxes imposed by Section 4945 of the Internal Revenue Code.

The provisions of this section shall not apply to split-interest trusts or amounts thereof to the extent that such split-interest trusts and amounts are not, under Section 4947 of the Internal Revenue Code, subject to the prohibitions applicable to private foundations.

Formerly: Acts 1971, P.L.416, SEC.6. As amended by P.L.2-1987, SEC.48; P.L.41-2000, SEC.6.
Ind. Code § 30-5-5-2 — Indiana Code / Title 30 / Article 5 / Chapter 5 / Section 30-5-5-2
Real property transactions
Status: in_force

Sec. 2. (a) Language conferring general authority with respect to real property transactions means the principal authorizes the attorney in fact to do the following:

(1) Accept as a gift or as security for a loan, to reject, demand, buy, lease, receive, or otherwise acquire either ownership or possession of an estate or interest in real property.

(2) Sell, exchange, convey with or without covenants, quitclaim, release, surrender, mortgage, encumber, partition or consent to partitioning, plat or consent to platting, lease, sublet, or otherwise dispose of an estate or interest in real property.

(3) Release in whole or in part, assign in whole or in part, satisfy in whole or in part, and enforce by action or proceeding, a mortgage, an encumbrance, a lien, or other claim to real property that exists or is claimed to exist in favor of the principal.

(4) Perform acts of management or conservation with respect to an estate or interest in real property owned or claimed to be owned by the principal, including the power to do the following:

(A) Insure against casualty, liability, or loss.

(B) Obtain, regain, or protect possession of the estate or interest by action or proceeding.

(C) Pay, compromise, or contest taxes and assessments.

(D) Apply for and receive refunds for taxes and assessments.

(E) Purchase supplies and hire assistance or labor.

(F) Make repairs or alterations in the structures or lands.

(5) Use, develop, modify, alter, replace, remove, erect, or install structures or other improvements upon real property in which the principal has or claims to have an interest.

(6) Demand, receive, or obtain by action or proceeding money or other things of value to which the principal is, may become, or may claim to be entitled to as the proceeds of an interest in real property or of one (1) or more transactions under this section, conserve, invest, disburse, or use any proceeds received for purposes authorized under this section, and reimburse the attorney in fact for expenditures properly made by the attorney in fact.

(7) Participate in a reorganization with respect to real property, receive and hold shares of stocks or instruments of similar character received under a plan of reorganization, and act with respect to the shares, including the power to do the following:

(A) Sell or otherwise dispose of the shares.

(B) Exercise or sell options.

(C) Convert the shares.

(D) Vote on the shares in person or by the granting of a proxy.

(8) Agree and contract in any manner and on any terms with a person for the accomplishment of any purpose under this section and perform, rescind, reform, release, or modify an agreement or a contract made by or on behalf of the principal.

(9) Execute, acknowledge, seal, and deliver a deed, revocation, mortgage, lease, notice, check, or other instrument that the attorney in fact considers useful for the accomplishment of a purpose under this section.

(10) Prosecute, defend, submit to arbitration, settle, and propose or accept a compromise with respect to a claim existing in favor of or against the principal based on or involving a real property transaction, and intervene in an action or proceeding relating to a claim.

(11) Hire, discharge, and compensate an attorney, accountant, expert witness, or other assistant when the attorney in fact considers the action to be desirable for the proper execution of a power under this section or for the keeping of necessary records.

(12) Perform acts relating to land use and zoning concerning property in which the principal has an ownership interest.

(13) Perform any other act with respect to an estate or interest in property.

(b) The powers described in this section are exercisable equally with respect to an interest in an estate or real property owned by the principal at the time of the giving of the power of attorney or acquired after that time, whether located in Indiana or in another jurisdiction.

As added by P.L.149-1991, SEC.2.
Ind. Code § 30-4-5-26 — Indiana Code / Title 30 / Article 4 / Chapter 5 / Section 30-4-5-26
Nonvested property interests; power of appointment; substitution of period of time; subsequent power of appointment
Status: in_force

Sec. 26. (a) If the trustee has the full, unrestricted power to alienate trust property and the trust expressly states that this exception applies to the trust, IC 32-17-8-3 shall apply to a nonvested property interest or power of appointment contained in the trust by substituting three hundred sixty (360) years instead of ninety (90) years in each place where the term appears in IC 32-17-8-3, unless the terms of the trust require that all beneficial interests in the trust vest or terminate within a lesser period.

(b) When a power of appointment in a trust ("earlier power") is exercised to create another power of appointment ("subsequent power") or another nonvested property interest, then the subsequent power or nonvested property interest created through the exercise of the earlier power is considered to have been created at the time of the creation of the earlier power, unless:

(1) the instrument creating the earlier power; or

(2) the instrument exercising the earlier power;

explicitly provides that the subsequent power or nonvested property interest is considered to have been created at the time of the irrevocable exercise of the earlier power.

As added by P.L.61-2024, SEC.1. Amended by P.L.105-2026, SEC.7.
Ind. Code § 30-4-1-1 — Indiana Code / Title 30 / Article 4 / Chapter 1 / Section 30-4-1-1
Definition of "trust"; relationships excluded from this article; transferability of employee benefit trust
Status: in_force

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 do not apply to:

(1) trusts created by operation of law;

(2) business trusts (as defined in IC 23-5-1);

(3) security instruments and creditor arrangements;

(4) voting trusts;

(5) religious, educational, and cultural institutions, created in other than trust form, except with respect to the application of IC 30-4-5-18 through IC 30-4-5-23 as those sections relate to the maintenance of federal income tax exemption privileges to which an institution is entitled;

(6) corporations and other entities governed by IC 23-17, except with respect to IC 30-4-5-18 through IC 30-4-5-23 as those sections relate to the maintenance of federal income tax exemption privileges to which a corporation or other entity is entitled;

(7) except as provided in this article for trusts for a benevolent public purpose and as provided in the Indiana uniform prudent investor act (IC 30-4-3.5):

(A) prepaid funeral plans;

(B) trusts for the care and upkeep of cemeteries; and

(C) agreements to furnish funeral services; and

(8) trusts created or authorized by statute other than this article.

(d) IC 30-4-3-2(a) applies to an employee benefit trust that meets the requirements set forth in IC 30-4-3-2(c). However, no other provision of this article applies to an employee benefit trust.

Formerly: Acts 1971, P.L.416, SEC.2; Acts 1972, P.L.11, SEC.12. As amended by P.L.287-1987, SEC.1; P.L.41-2000, SEC.1; P.L.61-2008, SEC.12.
Ind. Code § 30-2-15-18 — Indiana Code / Title 30 / Article 2 / Chapter 15 / Section 30-2-15-18
Net fair market value of unitrust assets
Status: in_force

Sec. 18. In determining the net fair market value of each asset held in the trust under sections 16 and 17 of this chapter, the value of the following may not be included:

(1) Any residential property or tangible personal property that, as of the first business day of the current valuation year, at least one (1) income beneficiary of the trust has or had the right to:

(A) occupy; or

(B) possess or control;

other than in a capacity as trustee. However, the right of occupancy or the right to possession or control shall be considered to be the unitrust amount with respect to the residential property or the tangible personal property.

(2) Any asset specifically given to a beneficiary under the terms of the trust and the return on that investment. The return on the investment shall be distributable to the beneficiary.

(3) Any assets that are held in a testator's estate.

As added by P.L.3-2003, SEC.2.
Ind. Code § 30-2-14-30 — Indiana Code / Title 30 / Article 2 / Chapter 14 / Section 30-2-14-30
Insubstantial allocation between principal and income
Status: in_force

Sec. 30. If a trustee determines that an allocation between principal and income required by section 31, 32, 33, 34, or 37 of this chapter is insubstantial, the trustee may allocate the entire amount to principal unless one (1) of the circumstances described in section 15(c) of this chapter applies to the allocation. This power may be exercised by a cotrustee in the circumstances described in section 15(d) of this chapter and may be released for the reasons and in the manner described in section 15(e) of this chapter. An allocation is presumed to be insubstantial if:

(1) the amount of the allocation would increase or decrease net income in an accounting period, as determined before the allocation, by less than ten percent (10%); or

(2) the value of the asset producing the receipt for which the allocation would be made is less than ten percent (10%) of the total value of the trust's assets at the beginning of the accounting period.

As added by P.L.84-2002, SEC.2.
Ind. Code § 30-4-3-2 — Indiana Code / Title 30 / Article 4 / Chapter 3 / Section 30-4-3-2
Power to restrain transfer of a beneficiary's interest
Status: reserved

Sec. 2. (a) The settlor may provide in the terms of the trust that the interest of a beneficiary may not be either voluntarily or involuntarily transferred before payment or delivery of the interest to the beneficiary by the trustee.

(b) Except as otherwise provided in subsection (c), if the settlor is also a beneficiary of the trust, a provision restraining the voluntary or involuntary transfer of the settlor's beneficial interest will not prevent the settlor's creditors from satisfying claims from the settlor's interest in the trust estate.

(c) A protective provision similar to that authorized by subsection (a) prevents a creditor of the settlor from satisfying a claim from the settlor's interest in the trust estate when the settlor is also a beneficiary of the trust if the trust is one (1) of the following:

(1) A trust that meets both of the following requirements:

(A) The trust is a qualified trust under 26 U.S.C. 401(a).

(B) The limitations on each beneficiary's control over the beneficiary's interest in the trust complies with 29 U.S.C. 1056(d).

(2) A legacy trust established under IC 30-4-8.

(d) A trust containing terms authorized under subsection (a) may be referred to wherever appropriate as a trust with protective provisions.

Formerly: Acts 1971, P.L.416, SEC.4. As amended by P.L.287-1987, SEC.2; P.L.221-2019, SEC.2.
Ind. Code § 30-2-10-5 — Indiana Code / Title 30 / Article 2 / Chapter 10 / Section 30-2-10-5
Contracts; required provisions
Status: in_force

Sec. 5. The contract under which funds are accepted under this chapter must be in writing and contain, as a minimum, the following provisions:

(1) Details of the professional services, facilities, equipment, and a description of merchandise to be provided by the beneficiary. If the merchandise or equipment includes a vault (as defined in IC 23-14-33-33) that:

(A) will be used to encase the remains of a deceased individual; and

(B) is not airtight and watertight;

the details must include a written statement indicating that the vault is not airtight and watertight.

(2) A provision that the beneficiary may provide merchandise of equal or better quality if the merchandise contracted for is no longer available at the time the merchandise is to be provided.

(3) The place of the funeral and the place of the burial or other final disposition to be made of the decedent.

(4) An acknowledgment by the settlor that the settlor understands the irrevocable nature of the trust.

(5) A provision for reasonable adjustment of the services, or cost of services, if the body is transported a distance greater than twenty-five (25) miles to the place of funeral or the place of burial or final disposition and transportation of a distance in excess of twenty-five (25) miles was not contemplated at the time of the execution of the contract.

(6) A provision for full payment of the contract amount by the settlor, a description of the manner in which the funds are to be deposited, and a statement that the interest will accrue to the trust account and a further statement that the principal and interest earned shall inure to the beneficiary to cover all the costs incident to the beneficiary's performance of the contract, any excess to be refunded to the estate of the settlor or to the heirs at law.

(7) The settlor's name, address, and social security number.

(8) The date that the funeral trust is executed by the settlor.

(9) The trustee's name and address.

(10) The beneficiary's license number issued by the state board of funeral service.

(11) A provision that except under the circumstances described in subsection (12), only the settlor may change the beneficiary, that the settlor may make the change at any time, and that the change is not effective until written notification is given to the original beneficiary.

(12) A provision that allows the state board of funeral service to change the beneficiary by naming a funeral home as new beneficiary if the original beneficiary becomes deceased, dissolved, terminated, or otherwise loses beneficiary status as a licensee of the state board, and the settlor or the settlor's guardian or personal representative fails to select a qualified beneficiary.

As added by Acts 1982, P.L.179, SEC.2. Amended by P.L.246-1985, SEC.24; P.L.61-2008, SEC.5.
Ind. Code § 30-5-8-2 — Indiana Code / Title 30 / Article 5 / Chapter 8 / Section 30-5-8-2
Presumption of validity; actual knowledge of invalidity
Status: in_force

Sec. 2. A written power of attorney that purports to be signed by the principal named in the power of attorney is presumed valid. A party may rely on the presumption of validity unless the party has actual knowledge that the power was not validly executed.

As added by P.L.149-1991, SEC.2.
Ind. Code § 30-2-8.5-30 — Indiana Code / Title 30 / Article 2 / Chapter 8.5 / Section 30-2-8.5-30
Custodian's expenses, compensation, and bond
Status: in_force

Sec. 30. (a) A custodian is entitled to reimbursement from custodial property for reasonable expenses incurred in the performance of the custodian's duties.

(b) Except for a person who is a transferor under section 19 of this chapter, a custodian has an election during each calendar year to charge reasonable compensation for services performed during that year.

(c) A custodian's election to charge reasonable compensation for a calendar year must be exercised during the calendar year.

(d) Except as provided in section 33(f) of this chapter, a custodian is not required to give a bond.

As added by P.L.267-1989, SEC.2.
Ind. Code § 30-4-1.5-1 — Indiana Code / Title 30 / Article 4 / Chapter 1.5 / Section 30-4-1.5-1
Purpose of chapter; presumptions
Status: in_force

Sec. 1. The purpose of this chapter is to provide rules for the valid execution, amendment, and revocation of inter vivos trusts that are prepared and signed electronically. This chapter shall be applied fairly and flexibly so that a settlor whose identity can be verified, who has capacity, and who is acting free from undue duress and undue influence may execute a valid electronic trust instrument consistent with the settlor's intent. If an electronic trust instrument is electronically signed by the settlor and is maintained as an electronic record or as a complete converted copy in compliance with the rules of this chapter, the normal presumptions that apply to a traditional paper trust instrument apply to the electronic trust instrument.

As added by P.L.40-2018, SEC.3.
Ind. Code § 30-1-7-4 — Indiana Code / Title 30 / Article 1 / Chapter 7 / Section 30-1-7-4
Binding and conclusive; disaffirmance
Status: in_force

Sec. 4. Said option and the deed or lease, as the case may be, in the event the option is exercised, shall be binding and conclusive upon the ward for the respective term thereof and the right of disaffirmance is hereby denied.

Formerly: Acts 1943, c.105, s.4.
Ind. Code § 30-2-12-13 — Indiana Code / Title 30 / Article 2 / Chapter 12 / Section 30-2-12-13
Modification or release of restrictions in gift instrument; modification of charitable purpose; notice to attorney general
Status: in_force

Sec. 13. (a) With the consent of the donor in a record, an institution may modify or release, in whole or in part, a restriction in a gift instrument on the management, investment, and purpose of an institutional fund. A donor may give prior consent to an institution for release or modification of a restriction or a charitable purpose in a gift instrument that also includes a restriction or stated charitable purpose subject to this section.

(b) A release under this section may not allow an institutional fund to be used for purposes other than the charitable purposes of the institution affected.

(c) An institution may petition a court to modify, in a manner consistent with the donor's intentions to the extent practicable, a restriction in a gift instrument concerning the management or investment of an institutional fund if:

(1) the restriction is impracticable or wasteful;

(2) the restriction impairs the management or investment of the fund; or

(3) due to unanticipated circumstances, the modification will further the purposes of the institutional fund.

An institution shall notify the attorney general of a petition under this subsection. A court shall provide the attorney general an opportunity to be heard on the petition.

(d) An institution may petition a court to modify, in a manner consistent with the gift instrument, the charitable purpose of a fund or a restriction on the use of a fund if the charitable purpose or use becomes unlawful, impracticable, impossible, or wasteful. An institution shall notify the attorney general of a petition under this subsection. A court shall provide the attorney general an opportunity to be heard on the petition.

(e) If an institution determines that a restriction in a gift instrument on the management, investment, or purpose of an institutional fund is unlawful, impracticable, impossible, or wasteful, the following apply:

(1) The institution shall send written notice of the determination to the attorney general.

(2) If, not more than sixty (60) days after receiving written notice of the determination under subdivision (1), the attorney general sends a written objection to a release or modification of the restriction, the institution may not release or modify the restriction unless one (1) of the following occurs:

(A) The attorney general sends written notice to the institution that the attorney general withdraws the objection.

(B) A court, in a court petition filed under this section, approves the release or modification.

A release or modification of a restriction under clause (A) or (B) is subject to subdivision (4).

(3) If:

(A) the attorney general has not, within sixty-three (63) days after the institution sends written notice under subdivision (1), sent a written objection to a release or modification of the restriction; or

(B) the institution is permitted to release or modify the restriction as provided in subdivision (2)(A) or (2)(B);

the institution, subject to subdivision (4), may release or modify the restriction.

(4) Not less than sixty (60) days after sending the written notice required by subdivision (1), the institution may release or modify all or part of the restriction if:

(A) the value of the institutional fund subject to the restriction is less than two hundred fifty thousand dollars ($250,000);

(B) the institutional fund was established more than twenty (20) years earlier; and

(C) the institution uses the institutional fund in a manner consistent with the charitable purposes expressed in the gift instrument.

However, the institution may release or modify all or part of the restriction as provided in this subdivision within the sixty (60) day period described in this section if the attorney general sends to the institution written notice that the attorney general does not object to a release or modification of the restriction.

(f) If:

(1) an institution makes a determination described in subsection (e); and

(2) the institutional fund does not meet the criteria for release or modification of a restriction described in subsection (e)(4)(A) through (e)(4)(C);

the institution may file a court petition under subsection (c) or (d), whichever is applicable, to seek approval of a release or modification. The attorney general may, after receiving notice of the petition, notify the court that the attorney general does not object to the release or modification and waives any interest or hearing on the petition.

As added by P.L.268-1989, SEC.1. Amended by P.L.199-1991, SEC.3; P.L.226-2007, SEC.16; P.L.85-2016, SEC.2.
Ind. Code § 30-4-10-14 — Indiana Code / Title 30 / Article 4 / Chapter 10 / Section 30-4-10-14
"Expanded distributive discretion"
Status: in_force

Sec. 14. As used in this chapter, "expanded distributive discretion" means a discretionary power of distribution that is not limited to an ascertainable standard or a reasonably definite standard.

As added by P.L.161-2022, SEC.3.
Ind. Code § 30-4-10-48 — Indiana Code / Title 30 / Article 4 / Chapter 10 / Section 30-4-10-48
Modification of the first-trust instrument
Status: in_force

Sec. 48. An authorized fiduciary must not exercise the decanting power to modify a provision in a first-trust instrument granting another person power to remove or replace the fiduciary unless:

(1) the person holding the power consents to the modification in a signed record and the modification applies only to the person;

(2) the person holding the power and the qualified beneficiaries of the second trust consent to the modification in a signed record and the modification grants a substantially similar power to another person; or

(3) the court approves the modification and the modification grants a substantially similar power to another person.

As added by P.L.161-2022, SEC.3.
Ind. Code § 30-2-15-17 — Indiana Code / Title 30 / Article 2 / Chapter 15 / Section 30-2-15-17
Unitrust amount; successive years
Status: in_force

Sec. 17. Beginning with the third year of the trust, and each year after that year, the unitrust amount for a current valuation year of the trust is the product of the unitrust rate multiplied by the average of the net fair market values of the assets held in the trust on the first business day of:

(1) the current valuation year; and

(2) each of the two (2) years of the trust immediately preceding the current valuation year.

As added by P.L.3-2003, SEC.2.
Ind. Code § 30-4-10-34 — Indiana Code / Title 30 / Article 4 / Chapter 10 / Section 30-4-10-34
Liability for an action or failure to act by a trustee or person
Status: in_force

Sec. 34. A trustee or person that reasonably relies on:

(1) the validity of a distribution of the property of a trust to another trust; or

(2) a modification of a trust under this chapter, law of this state other than this article, or the law of another jurisdiction;

is not liable to any person for any action or failure to act as a result of the reliance.

As added by P.L.161-2022, SEC.3.
Ind. Code § 30-2-5-7 — Indiana Code / Title 30 / Article 2 / Chapter 5 / Section 30-2-5-7
Nonliability of third persons
Status: in_force

Sec. 7. (a) No person who participates in the acquisition, disposition, assignment or transfer of a security by or to a fiduciary, including a person who guarantees the signature of the fiduciary, is liable for participation in any breach of fiduciary duty by reason of failure to inquire whether the transaction involves such a breach unless it is shown that he acted with actual knowledge that the proceeds of the transaction were being or were to be used wrongfully for the individual benefit of the fiduciary or that the transaction was otherwise in breach of duty.

(b) If a corporation or transfer agent makes a transfer pursuant to an assignment by a fiduciary, a person who guaranteed the signature of the fiduciary is not liable on the guarantee to any person to whom the corporation or transfer agent by reason of this chapter incurs no liability.

(c) This section does not impose any liability upon the corporation or its transfer agent.

Formerly: Acts 1961, c.124, s.7. As amended by Acts 1982, P.L.171, SEC.100.
Ind. Code § 30-2-4-12 — Indiana Code / Title 30 / Article 2 / Chapter 4 / Section 30-2-4-12
Cases not provided for
Status: in_force

Sec. 12. In any case not provided for in this chapter, the rules of law and equity, including the law merchant and those rules of law and equity relating to trusts, agency, negotiable instruments and banking, shall continue to apply.

Formerly: Acts 1927, c.17, s.12. As amended by Acts 1982, P.L.171, SEC.94.
Ind. Code § 30-5-10-4 — Indiana Code / Title 30 / Article 5 / Chapter 10 / Section 30-5-10-4
Death of principal; extended authority of attorney in fact
Status: in_force

Sec. 4. (a) Except as provided in subsections (b) and (c), a power of attorney terminates on the death of the principal.

(b) The death of a principal who has executed a written power of attorney does not revoke or terminate the power of attorney as to the attorney in fact or other person who, without actual knowledge of the death of the principal, acts in good faith under the power. Unless otherwise invalid or unenforceable, an action taken under this subsection binds the principal and the principal's successors in interest.

(c) The death of a principal who executes a written power of attorney does not revoke or terminate the power of attorney as to authority granted under one (1) or more of the following:

(1) IC 30-5-5-14(a)(2).

(2) IC 30-5-5-14(a)(3).

(3) IC 30-5-5-14(a)(5).

(4) IC 30-5-5-14(a)(7).

(5) IC 30-5-5-16(b)(5).

(6) IC 30-5-5-16(b)(6).

(7) IC 30-5-5-16(b)(7).

An action taken under this subsection binds the principal and the principal's successors in interest, unless the action is inconsistent with a written directive executed by the principal before the principal's death. The authority of the attorney in fact under subdivisions (1) through (4) is limited to the tax periods prior to and including the date of the principal's death and terminates upon the appointment of a personal representative under IC 29-1.

(d) Notice from the United States Department of Defense of the death of a principal who has given a power of attorney is official notice of the death of the principal. A report or listing of the principal's being missing or missing in action does not do any of the following:

(1) Constitute and may not be interpreted as actual notice of the death of the principal.

(2) Terminate the power of attorney.

As added by P.L.149-1991, SEC.2. Amended by P.L.238-2005, SEC.53; P.L.50-2025, SEC.8.
Ind. Code § 30-2-10-10 — Indiana Code / Title 30 / Article 2 / Chapter 10 / Section 30-2-10-10
Incapacity, resignation, and removal of trustees
Status: in_force

Sec. 10. IC 30-4-3-29 governs procedures concerning the incapacity, resignation, or removal of a trustee.

As added by Acts 1982, P.L.179, SEC.2.