reglab/statecodes huggingface dataset:
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 3. Rules Governing the Rights, Powers, Duties, Liabilities, and Remedies of the Parties to a Trust › 30-4-3-1.3. Revocable Trusts; Powers of Settlor; Duties of Trustees

Sec. 1.3. (a) While a trust is revocable and the settlor has the capacity to revoke the trust:
(1) the rights of the beneficiaries are subject to the control of; and
(2) the duties of the trustee are owed exclusively to;
the settlor.
(b) A settlor is presumed to have capacity for the purposes of subsection (a) until the trustee receives from at least one (1) licensed physician written certification that the settlor lacks the capacity to revoke the trust.
(c) If a revocable trust has more than one (1) settlor, the duties of the trustee are owed to all of the settlors having capacity to revoke the trust.
(d) During the period the power may be exercised, the holder of a power of withdrawal has the rights of a settlor of a revocable trust under this section to the extent of the property subject to the power.
(e) If a trustee reasonably believes that a settlor of a revocable trust lacks capacity to revoke the trust, the trustee is authorized to provide information to the settlor's designated agent (even if the designated agent is one (1) of two (2) or more trustees) or to any beneficiary who, if the settlor were deceased, would be entitled to distributions from the trust.
(f) A person who becomes a successor trustee of a revocable trust upon the death, resignation, or incapacity of a trustee who was also a settlor is not liable for any act or failure to act by the settlor while the settlor was trustee.
(g) A successor trustee of a revocable trust who succeeds a trustee who was also a settlor of the trust does not have a duty to:
(1) investigate any act or failure to act by the predecessor trustee;
(2) review any accounting of the predecessor trustee; or
(3) take action on account of any breach of trust by the predecessor trustee.
As added by P.L.99-2013, SEC.9.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 3. Rules Governing the Rights, Powers, Duties, Liabilities, and Remedies of the Parties to a Trust › 30-4-3-2. Power to Restrain Transfer of a Beneficiary's Interest

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.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 3. Rules Governing the Rights, Powers, Duties, Liabilities, and Remedies of the Parties to a Trust › 30-4-3-3.2. Perpetual Care Fund Trusts; Trustee Withdrawals

Sec. 3.2. The trustee of a trust established as the perpetual care fund of a cemetery under IC 23-14-48-2 may, under IC 23-14-48-2.2, without court authorization, withdraw from the trust the amounts allowed by IC 23-14-48-2 to pay the cost of perpetual care of the cemetery, notwithstanding any provision in the terms of the trust that would restrict withdrawals from the trust to less than the withdrawals allowed by IC 23-14-48-2.
As added by P.L.163-2016, SEC.2.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 3. Rules Governing the Rights, Powers, Duties, Liabilities, and Remedies of the Parties to a Trust › 30-4-3-4. Exercise of Powers by Multiple, Successor, or Surviving Trustees

Sec. 4. (Exercise of Powers by Multiple, Successor, or Surviving Trustees)
Unless the terms of the trust provide otherwise:
(a) Any power vested in two (2) trustees must be exercised by them jointly; any power vested in three (3) or more trustees must be exercised by a majority.
(b) If there are two (2) or more trustees and they are unable to exercise a power under subsection (a) of this section:
(1) If there is an immediate risk of irreparable damage to the trust property or the interest of any beneficiary before court approval could be obtained, any trustee may exercise the power and petition the court for approval after the power has been exercised; but
(2) if there is no immediate risk of irreparable damage to the trust property or the interest of any beneficiary, any trustee may petition the court for permission to exercise the power, but none may exercise the power prior to obtaining permission from the court.
(c) A co-trustee is excused from liability incurred because of the exercise by a majority of a power vested in three (3) or more trustees if he:
(1) refuses to join in the exercise of the power and mails a written dissent to any of the co-trustees; or
(2) if the power was exercised without his knowledge, mails a written dissent to any co-trustee within a reasonable time after being informed that it has been exercised.
(d) A successor trustee, additional trustee or surviving or remaining co-trustee may exercise all powers previously vested in the predecessor trustee or co-trustee.
Formerly: Acts 1971, P.L.416, SEC.4.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 3. Rules Governing the Rights, Powers, Duties, Liabilities, and Remedies of the Parties to a Trust › 30-4-3-5. Conflict of Interest in Exercise of Powers

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.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 3. Rules Governing the Rights, Powers, Duties, Liabilities, and Remedies of the Parties to a Trust › 30-4-3-6.5. Liability of Trustee for Lack of Knowledge of Event Affecting Administration or Distribution of Trust

Sec. 6.5. If the happening of an event, including:
(1) marriage;
(2) divorce;
(3) performance of educational requirements; or
(4) death;
affects the administration or distribution of a trust, a trustee who has exercised reasonable care to ascertain the happening of the event is not liable for a loss resulting from the trustee's lack of knowledge.
As added by P.L.238-2005, SEC.33.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 3. Rules Governing the Rights, Powers, Duties, Liabilities, and Remedies of the Parties to a Trust › 30-4-3-7. Self-Dealing; Transactions Between Trusts

Sec. 7. (a) Unless the terms of the trust provide otherwise or the transaction is authorized under section 7.5 of this chapter, IC 28-1-12-8, or IC 28-6.1-6-26, the trustee has a duty:
(1) not to loan funds to the trustee or an affiliate;
(2) not to purchase or participate in the purchase of trust property from the trust for the trustee's own or an affiliate's account;
(3) not to sell or participate in the sale of the trustee's own or an affiliate's property to the trust; or
(4) if a corporate trustee, not to purchase for or retain in the trust its own or a parent or subsidiary corporation's stock, bonds, or other capital securities. However, the trustee may retain such securities already held in trusts created prior to September 2, 1971.
(b) Unless the terms of the trust provide otherwise, a corporate trustee may invest in, purchase for, or retain in the trust its own or an affiliate's obligations, including savings accounts and certificates of deposit, without the investment, purchase, or retention constituting a conflict of interest under section 5 of this chapter.
(c) Unless the terms of the trust provide otherwise, a corporate trustee does not violate subsection (a) by investing in, purchasing for, or retaining in the trust its own or an affiliate's obligations, including savings accounts and certificates of deposit, if the payment of each obligation is fully insured by the Federal Deposit Insurance Corporation, the National Credit Union Share Insurance Fund, or any insurer approved by the department of financial institutions under IC 28-7-1-31.5.
(d) If the terms of the trust permit the trustee to deal with a beneficiary for the trustee's own account, the trustee has a duty to deal fairly with and to disclose to the beneficiary all material facts related to the transaction which the trustee knows or should know.
(e) Unless the terms of the trust provide otherwise, the trustee may sell, exchange, or participate in the sale or exchange of trust property from one (1) trust to the trustee as trustee of another trust, provided the sale or exchange is fair and reasonable with respect to the beneficiaries of both trusts and the trustee discloses to the beneficiaries of both trusts all material facts related to the sale or exchange which the trustee knows or should know.
(f) This section does not prohibit a trustee from enforcing or fulfilling any enforceable contract or agreement:
(1) executed during the settlor's lifetime; and
(2) between the settlor and the trustee in the trustee's individual capacity.
Formerly: Acts 1971, P.L.416, SEC.4. As amended by Acts 1982, P.L.171, SEC.118; P.L.174-1986, SEC.1; P.L.8-1991, SEC.34; P.L.176-1996, SEC.34; P.L.238-2005, SEC.34; P.L.202-2007, SEC.3; P.L.226-2007, SEC.22; P.L.89-2011, SEC.75; P.L.194-2017, SEC.9.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 3. Rules Governing the Rights, Powers, Duties, Liabilities, and Remedies of the Parties to a Trust › 30-4-3-7.5. Transactions Authorized

Sec. 7.5. A transaction otherwise prohibited by section 7 of this chapter is authorized if:
(1) the proposed prohibited transaction is authorized by the written consent of all qualified beneficiaries; or
(2) the proposed prohibited transaction is approved by an order of the court issued after:
(A) notice to all qualified beneficiaries; and
(B) a hearing to ensure that adequate consideration is received by or delivered from the trust for the interest transferred.
As added by P.L.194-2017, SEC.10.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 3. Rules Governing the Rights, Powers, Duties, Liabilities, and Remedies of the Parties to a Trust › 30-4-3-8. Duties of Co-Trustees

Sec. 8. (Duties of Co-Trustee)
Unless the terms of the trust provide otherwise, if there are two (2) or more trustees, each has a duty to:
(a) participate in the administration of the trust;
(b) take whatever action is reasonable to prevent a co-trustee from committing a breach of trust; and
(c) take whatever action is reasonable to compel a co-trustee to redress a breach of trust.
Formerly: Acts 1971, P.L.416, SEC.4.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 3. Rules Governing the Rights, Powers, Duties, Liabilities, and Remedies of the Parties to a Trust › 30-4-3-9. Duty of Trustee Under Control of Third Persons

Sec. 9. (Duty of Trustee under Control of Third Person)
(a) This section applies to directions given to a trustee before July 1, 2019, by a person who has power under the terms of the trust to direct the trustee.
(b) If the terms of the trust give a person a power to direct the trustee in the administration of the trust and those terms expressly direct the trustee to rely, or relieve the trustee from liability if he does rely, on that person's directions, the trustee may do so and will incur no liability for any loss to the trust estate.
(c) If the terms of the trust give a person a power to direct the trustee in the administration of the trust, except as provided in subsection (b):
(1) if the person holds the power as a fiduciary, the trustee has a duty to refuse to comply with any direction which he knows or should know would constitute a breach of a duty owed by that person as a fiduciary; and
(2) if the person holds the power solely for his own benefit, the trustee may refuse to comply only if the attempted exercise of the power violates the terms of the trust with respect to that power.
Formerly: Acts 1971, P.L.416, SEC.4. As amended by P.L.221-2019, SEC.4; P.L.231-2019, SEC.25.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 3. Rules Governing the Rights, Powers, Duties, Liabilities, and Remedies of the Parties to a Trust › 30-4-3-10. Liability to Third Persons

Sec. 10. (Liability to Third Persons)
(a) Unless the terms of the contract or other non-negotiable obligation expressly provide otherwise, the trustee is not personally liable on a contract or other non-negotiable obligation with a third person made by him in the administration of the trust.
(b) When a third person is entitled to compensation for injury suffered in the course of the administration of the trust:
(1) If the injury is the result of the trustee's personal act or omission as trustee, the trustee will be personally liable and the injured party will be entitled to satisfaction of his claim from the trustee's individual property first and then, to the extent the claim is yet unsatisfied, from the trust estate.
(2) If the injury is the result of the act or omission of an agent of the trustee, and the agent was properly selected and supervised and there was no improper delegation of authority to the agent, the injured party will be entitled to satisfaction of his claim from the trust estate first and then, to the extent that the claim is yet unsatisfied, from the trustee's individual property.
(3) If the injury is the result of the act or omission of the settlor or his agent, and not that of the trustee or his agent, the injured party will be entitled to satisfaction of his claim from the trust estate and not from the trustee's individual property.
(4) The question of ultimate liability as between the trust estate and the trustee individually, if it is to be determined, shall be determined in a proceeding for accounting, surcharge or indemnification.
Formerly: Acts 1971, P.L.416, SEC.4.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 3. Rules Governing the Rights, Powers, Duties, Liabilities, and Remedies of the Parties to a Trust › 30-4-3-11. Potential Liability of Trustee to Beneficiary; Remedies; Removal of Trustee

Sec. 11. (a) The trustee is accountable to the beneficiary for the trust estate.
(b) If the trustee commits a breach of trust, the trustee is liable to the beneficiary for:
(1) any loss or depreciation in the value of the trust property as a result of the breach;
(2) any profit made by the trustee through the breach;
(3) any reasonable profit which would have accrued on the trust property in the absence of a breach; and
(4) reasonable attorney's fees incurred by the beneficiary in bringing an action on the breach.
(c) In the absence of a breach of trust, the trustee has no liability to the beneficiary either for any loss or depreciation in value of the trust property or for a failure to make a profit. However, if:
(1) a loss or depreciation in value of the trust property; or
(2) the trust's failure to make a profit;
is the result of a violation by the trustee of IC 28-1-12-8 or IC 28-6.1-6-26, one (1) or more beneficiaries of the trust may petition the court for any remedy described in subsection (b) or for removal of the trustee under section 22(a)(4) of this chapter, regardless of whether the transaction under IC 28-1-12-8 or IC 28-6.1-6-26 constitutes or involves a breach of trust. The court may award one (1) or more remedies described in subsection (b) or remove the trustee, or both, if the court determines that the remedy or the removal of the trustee is in the best interests of all beneficiaries of the trust. The burden of proof is on the one (1) or more petitioning beneficiaries to demonstrate that the remedy or the removal of the trustee is in the best interests of all beneficiaries of the trust.
(d) The trustee is liable to the beneficiary for acts of an agent which, if committed by the trustee, would be a breach of the trust if the trustee:
(1) directs or permits the act of the agent;
(2) delegates the authority to perform an act to the agent which the trustee is under a duty not to delegate;
(3) fails to use reasonable care in the selection or retention of the agent;
(4) fails to exercise proper supervision over the conduct of the agent;
(5) approves, acquiesces in, or conceals the act of the agent; or
(6) fails to use reasonable effort to compel the agent to reimburse the trust estate for any loss or to account to the trust estate for any profit.
Formerly: Acts 1971, P.L.416, SEC.4. As amended by P.L.202-2007, SEC.4; P.L.226-2007, SEC.23; P.L.3-2008, SEC.228.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 3. Rules Governing the Rights, Powers, Duties, Liabilities, and Remedies of the Parties to a Trust › 30-4-3-12. Liability for Breach of Trust by Co-Trustee

Sec. 12. (Liability for Breach of Trust by Co-Trustee)
A trustee becomes liable to the beneficiary for a breach of trust committed by his co-trustee if he:
(a) participates in the breach of trust;
(b) improperly delegates the administration of the trust to the co-trustee;
(c) approves, acquiesces in or conceals a breach of trust;
(d) enables the co-trustee to commit a breach of trust by his failure to exercise care in the administration of the trust; or
(e) fails to use reasonable effort to compel the co-trustee, or, if the co-trustee has died, his estate, to redress a breach of trust.
Formerly: Acts 1971, P.L.416, SEC.4.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 3. Rules Governing the Rights, Powers, Duties, Liabilities, and Remedies of the Parties to a Trust › 30-4-3-13. Liability of a Successor Trustee

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.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 3. Rules Governing the Rights, Powers, Duties, Liabilities, and Remedies of the Parties to a Trust › 30-4-3-14. Contribution and Indemnity

Sec. 14. (Contribution and Indemnity)
(a) Except as stated in subsection (b) of this section, if two (2) or more co-trustees are liable to the beneficiary, each co-trustee is entitled to contribution from the other, provided, however, that:
(1) if one (1) co-trustee is substantially more at fault than another, the co-trustee who is most at fault is not entitled to contribution, and the other co-trustee is entitled to indemnity from him; or
(2) if one (1) of the co-trustees receives a profit from the administration of the trust or a benefit from a breach of trust, the other co-trustee is entitled to indemnity from him to the extent of the profit or benefit received by that co-trustee.
(b) If a trustee commits a breach of trust in bad faith, he is not entitled to either contribution or indemnity from his co-trustee.
Formerly: Acts 1971, P.L.416, SEC.4.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 3. Rules Governing the Rights, Powers, Duties, Liabilities, and Remedies of the Parties to a Trust › 30-4-3-15. Remedies of Trustee Against Third Persons

Sec. 15. (Remedies of the Trustee against Third Persons)
The trustee may maintain in his representative capacity a civil action for any legal or equitable remedy against a third person that he could maintain in his own right if he were the owner.
Formerly: Acts 1971, P.L.416, SEC.4.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 3. Rules Governing the Rights, Powers, Duties, Liabilities, and Remedies of the Parties to a Trust › 30-4-3-16. Remedies Among Co-Trustees

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.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 3. Rules Governing the Rights, Powers, Duties, Liabilities, and Remedies of the Parties to a Trust › 30-4-3-17. Remedies of Trustee Against Beneficiary

Sec. 17. (Remedies of Trustee against Beneficiary)
The trustee may maintain a civil action against a beneficiary for any legal or equitable remedy, including, among others, a charge against the beneficiary's interest in the trust estate, in any case in which the beneficiary is liable under 30-4-3-20.
Formerly: Acts 1971, P.L.416, SEC.4.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 3. Rules Governing the Rights, Powers, Duties, Liabilities, and Remedies of the Parties to a Trust › 30-4-3-18. Other Remedies of the Trustee

Sec. 18. (Other Remedies of the Trustee)
(a) If there is reasonable doubt with respect to any matter relating to the administration of the trust, the trustee is entitled to be instructed by the court.
(b) The trustee is entitled to a review and settlement by the court of the accounts of his administration.
(c) The trustee is entitled to a lien against the trust estate:
(1) for any advances made by him under 30-4-3-3(a) (10); and
(2) for the value of his services for which he is entitled to, but has not received, compensation as provided either under the terms of the trust or under 30-4-5-16.
Formerly: Acts 1971, P.L.416, SEC.4.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 3. Rules Governing the Rights, Powers, Duties, Liabilities, and Remedies of the Parties to a Trust › 30-4-3-19. Relief of Trustee's Liability for Breach of Trust

Sec. 19. (Relief of Trustee's Liability for Breach of Trust)
(a) Unless the terms of the trust provide otherwise or unless if to do so would frustrate, impair or defeat the purposes of the trust, a beneficiary, except as provided in subsection (b) of this section, relieves the trustee from liability for breach of trust as to that beneficiary's interest if he:
(1) consents to or acquiesces in the act or omission which constitutes a breach of trust;
(2) agrees to release or discharge the trustee from liability for breach of trust after the act or omission constituting the breach occurs;
(3) elects, under an option to affirm or reject a transaction entered into as a breach of trust, to affirm the transaction; or
(4) participates in the act of the trustee which constitutes the breach of trust.
(b) The consent, acquiescence, agreement to release or discharge, affirmance, or participation by a beneficiary will not relieve the trustee from liability if:
(1) at the time it was given the beneficiary was under an incapacity;
(2) at the time it was given the beneficiary did not know of his rights or all of the material facts which the trustee knew or should have known;
(3) it was induced by the trustee's improper conduct;
(4) the trustee had an adverse interest in the transaction and the transaction was not fair and reasonable; or
(5) the trustee pays or delivers a beneficiary's interest to that beneficiary contrary to the terms of a trust with protective provisions.
Formerly: Acts 1971, P.L.416, SEC.4.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 3. Rules Governing the Rights, Powers, Duties, Liabilities, and Remedies of the Parties to a Trust › 30-4-3-20. Liability of Beneficiary

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.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 3. Rules Governing the Rights, Powers, Duties, Liabilities, and Remedies of the Parties to a Trust › 30-4-3-21. Remedies of Beneficiary Against Third Persons

Sec. 21. (Remedies of the Beneficiary against Third Persons)
If the trustee has a claim against a third person for which he may maintain a civil action under 30-4-3-15 but he is unable, unwilling or neglects to commence the action within a reasonable time not to exceed thirty (30) days after written demand, any beneficiary may commence the action in his own right for the benefit of all the beneficiaries.
Formerly: Acts 1971, P.L.416, SEC.4; Acts 1972, P.L.11, SEC.13.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 3. Rules Governing the Rights, Powers, Duties, Liabilities, and Remedies of the Parties to a Trust › 30-4-3-22. Remedies of the Beneficiary Against the Trustee

Sec. 22. (Remedies of the Beneficiary against the Trustee)
(a) A beneficiary of a trust may maintain an action:
(1) to compel the trustee to perform his duties;
(2) to enjoin the trustee from committing an act which may be a breach of trust;
(3) to compel the trustee to redress a breach of trust; or
(4) to remove a trustee for cause and to appoint a successor trustee.
(b) If the trustee acquires property and wrongfully holds it outside the trust, a beneficiary is entitled at his option to either:
(1) require the property to be transferred to the trust or
(2) impose an equitable lien upon it to secure his claim for damages for breach of trust.
(c) If the trustee commingles the trust funds or property with his own funds or property or converts the trust fund or property into another form which is wrongfully held outside the trust:
(1) if the fund or property can be traced and identified, the beneficiary is entitled to restoration of the fund or property to the trust; or
(2) if the fund or property cannot be traced and identified,
(A) In a case of commingling of funds or property, the beneficiary is entitled to a lien against the trustee's individual property from the date and in the amount of the fund or the value of the property at the time of the commingling.
(B) In a case of conversion of property, the beneficiary is entitled to a lien against the trustee's individual property from the date and according to the value of the property at the time of the conversion.
(d) If the trustee is also a beneficiary, the other beneficiaries will be entitled to a charge against the trustee's beneficial interest to secure their claims against him for a breach of trust.
(e) If a beneficiary successfully maintains an action under subsection (a) of this section or is entitled to a judgment under subsections (b), (c), or (d) of this section, he is entitled to a judgment for reasonable attorney's fees.
Formerly: Acts 1971, P.L.416, SEC.4.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 3. Rules Governing the Rights, Powers, Duties, Liabilities, and Remedies of the Parties to a Trust › 30-4-3-23. Remedy of a Beneficiary Against a Co-Beneficiary

Sec. 23. (Remedy of a Beneficiary against a Co-Beneficiary)
(a) If no recovery can be made from the trustee for a breach of trust, a beneficiary may maintain an action against a co-beneficiary who consented to the breach for a redress of the breach, if the co-beneficiary:
(1) knows or should have known that the act of the trustee to which he consented constituted a breach of trust;
(2) agreed with the trustee or the other beneficiaries to be liable for any loss which might result from the act constituting the breach; or
(3) participated in the act constituting the breach.
(b) The consenting co-beneficiary shall be personally liable for any loss for which the other beneficiaries are entitled to redress under subsection (a) of this section and his beneficial interest in the trust estate may be charged for the amount of the loss if the court deems it proper to do so.
Formerly: Acts 1971, P.L.416, SEC.4.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 3. Rules Governing the Rights, Powers, Duties, Liabilities, and Remedies of the Parties to a Trust › 30-4-3-24. Repealed

Formerly: Acts 1971, P.L.416, SEC.4. Repealed by P.L.238-2005, SEC.63.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 3. Rules Governing the Rights, Powers, Duties, Liabilities, and Remedies of the Parties to a Trust › 30-4-3-24.4. Modification or Termination of Trust by Court

Sec. 24.4. (a) The court may modify the administrative or dispositive terms of a trust if, because of circumstances not anticipated by the settlor, modification or termination will further the purposes of the trust. To the extent practicable, the modification must be made in accordance with the settlor's probable intention.
(b) The court may modify the administrative terms of a trust or terminate the trust if:
(1) the purpose of the trust has been fulfilled; or
(2) continuation of the trust on the trust's existing terms would:
(A) be illegal, impossible, impracticable, or wasteful; or
(B) impair the trust's administration.
(c) If the trust terminates under this section, the court shall direct the trustee to distribute the trust property in a manner consistent with the purposes of the trust.
(d) The court may modify the terms of a trust to give the settlor the power to revoke and modify the trust if the:
(1) settlor intended to reserve the power;
(2) settlor believed the power was reserved; and
(3) power was omitted from the terms of the trust by mistake.
As added by P.L.238-2005, SEC.35.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 3. Rules Governing the Rights, Powers, Duties, Liabilities, and Remedies of the Parties to a Trust › 30-4-3-24.5. Termination by Trustee of Trust With Value Less Than $75,000

Sec. 24.5. (a) This section does not apply to an easement for conservation or preservation.
(b) This subsection applies to a trust consisting of trust property having a total value of less than seventy-five thousand dollars ($75,000). Unless the terms of the trust provide otherwise, the trustee may terminate the trust:
(1) if the trustee concludes the value of the trust property is insufficient to justify the cost of administration; and
(2) after providing notice of the trust termination to qualified beneficiaries.
(c) The trustee may propose the termination of a trust by written notice to qualified beneficiaries if the trustee, upon review of surrounding circumstances, concludes that continuation of the trust on its existing terms would be contrary to the economic best interest of the trust estate and that early termination would be in the best interests of the beneficiaries consistent with the settlor's intent. This trust termination shall occur upon receipt of written consent of all qualified beneficiaries.
(d) The court may:
(1) modify or terminate a trust; or
(2) remove the trustee and appoint a different trustee;
if the court determines that the value of the trust property is insufficient to justify the cost of administration. If a trust terminates under this subsection, the court shall direct the trustee to distribute the trust property in a manner consistent with the purposes of the trust.
(e) If a trust terminates under subsection (c), the trustee shall distribute the trust property in a manner consistent with the purposes of the trust.
As added by P.L.238-2005, SEC.36. Amended by P.L.221-2019, SEC.5; P.L.231-2019, SEC.26.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 3. Rules Governing the Rights, Powers, Duties, Liabilities, and Remedies of the Parties to a Trust › 30-4-3-25. Rescission and Reformation

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.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 3. Rules Governing the Rights, Powers, Duties, Liabilities, and Remedies of the Parties to a Trust › 30-4-3-25.5. Distribution of Terminated Trust; Payment of Federal and State Taxes

Sec. 25.5. (a) This section applies beginning October 1, 2009.
(b) Except as provided in subsection (d), when a trust created to comply with 42 U.S.C. 1396p(d)(4)(A) is terminated, the trustee shall not distribute trust property to any person entitled to payment from the trust until the office of Medicaid policy and planning has been fully reimbursed for assistance rendered to the person for whom the trust was created.
(c) The primary purpose of a trust described in subsection (b) is to ensure that the state is repaid Medicaid benefits provided in return for excepting the trust from the general requirements of 42 U.S.C. 1396(d).
(d) A trustee may pay federal and state taxes from the trust before reimbursing the office of Medicaid policy and planning.
As added by P.L.14-2009, SEC.3.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 3. Rules Governing the Rights, Powers, Duties, Liabilities, and Remedies of the Parties to a Trust › 30-4-3-26. Power to Direct a Deviation From the Terms of the Trust

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.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 3. Rules Governing the Rights, Powers, Duties, Liabilities, and Remedies of the Parties to a Trust › 30-4-3-27. Cy Pres Doctrine

Sec. 27. (a) If property is given to a trust for a benevolent public purpose and the property is to be applied to a particular charitable purpose, and it is or becomes impossible, impracticable, wasteful, or illegal to carry out the particular purpose, and if the settlor manifested a more general intention to devote the property to charitable purposes, the trust need not fail, but the court may direct the application of the property to some charitable purpose which falls within the general charitable intention of the settlor.
(b) The terms of a charitable trust that would result in the distribution of the trust property to a noncharitable beneficiary prevails over the power of the court under subsection (a) to apply the cy pres doctrine to modify or terminate the trust only if, when the provision takes effect:
(1) the trust property is to revert to the settlor and the settlor is still alive; or
(2) less than twenty-one (21) years have elapsed since the trust was created.
(c) A living heir of the settlor or a living beneficiary named in the original trust agreement may present evidence to the court of:
(1) the heir's or beneficiary's opinion of the settlor's intent; and
(2) the heir's or beneficiary's wishes;
regarding the property given in trust.
Formerly: Acts 1971, P.L.416, SEC.4. As amended by P.L.41-2000, SEC.3; P.L.238-2005, SEC.37.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 3. Rules Governing the Rights, Powers, Duties, Liabilities, and Remedies of the Parties to a Trust › 30-4-3-28. Repealed

Formerly: Acts 1971, P.L.416, SEC.4. Repealed by P.L.238-2005, SEC.63.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 3. Rules Governing the Rights, Powers, Duties, Liabilities, and Remedies of the Parties to a Trust › 30-4-3-29. Removal, Resignation, and Appointment of Trustees

Sec. 29. (a) A trustee may be removed as follows:
(1) By the court.
(2) By the person, if any, who by the terms of the trust is authorized to remove the trustee.
(3) Unless the terms of the trust instrument provide otherwise, by a beneficiary of the trust whose petition is granted by the court under subsection (d).
(b) Unless the terms of the trust requires a different time, the trustee may resign:
(1) if the trustee gives at least thirty (30) days notice to:
(A) the qualified beneficiaries;
(B) the settlor, if living; and
(C) all cotrustees; or
(2) with the approval of the court.
In approving a resignation, the court may issue orders and impose conditions reasonably necessary for the protection of the trust property. Any liability of a resigning trustee or of any sureties on the trustee's bond for acts or omissions of the trustee is not discharged or affected by the trustee's resignation.
(c) For good cause shown, the court may at any time appoint a temporary trustee for such period of time, and to perform such duties, as the court may direct.
(d) This subsection applies only to a trust executed after June 30, 1996. A beneficiary of a trust may petition the court for the removal of a corporate trustee if there has been a change in control of the corporate trustee after the date of the execution of the trust. The court may remove the corporate trustee if the court determines the removal is in the best interests of all the beneficiaries of the trust. For purposes of this subsection a change in control of the corporate trustee occurs whenever a person or group of persons acting in concert acquires the beneficial ownership of an aggregate of at least twenty-five percent (25%) of the outstanding shares of voting stock of:
(1) a trustee; or
(2) a corporation controlling a trustee;
after June 30, 1996.
(e) A trustee who has resigned or been removed shall expeditiously deliver the trust property within the trustee's possession to the cotrustee, successor trustee, or other person entitled to the trust property. A trustee who has resigned or been removed has the duties of trustee and the powers necessary to protect the trust property:
(1) unless a cotrustee remains in the office of trustee or the court orders otherwise; and
(2) until the trust property is delivered to a successor trustee or other person entitled to the trust property.
Formerly: Acts 1971, P.L.416, SEC.4. As amended by P.L.199-1996, SEC.1; P.L.165-2002, SEC.6; P.L.238-2005, SEC.38.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 3. Rules Governing the Rights, Powers, Duties, Liabilities, and Remedies of the Parties to a Trust › 30-4-3-29.3. Power to Appoint a Successor Trustee

Sec. 29.3. (a) The power to appoint a successor trustee under a governing instrument or under section 33 of this chapter includes:
(1) the power to appoint multiple successor trustees; and
(2) the power to allocate trustee powers to one (1) or more trustees.
(b) A trustee to whom powers:
(1) have been exclusively allocated under subsection (a) must be a fiduciary only with respect to the powers allocated; and
(2) have not been allocated under subsection (a) is not liable for the actions of a trustee to whom the powers, duties, and responsibilities are allocated.
(c) The rules governing the rights, powers, duties, and liabilities of a governing instrument under this chapter apply to a trustee appointed under this section unless expressly limited by the terms of a governing instrument.
As added by P.L.161-2022, SEC.1.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 3. Rules Governing the Rights, Powers, Duties, Liabilities, and Remedies of the Parties to a Trust › 30-4-3-29.5. Corporate Trustee That Acquires Trust Due to Change in Control

Sec. 29.5. (a) Except as provided in subsection (b) and unless the trust instrument provides otherwise, a corporate trustee that acquires a trust as a result of a change in control may not:
(1) decline to accept the trust property;
(2) resign as trustee; or
(3) otherwise refuse to administer the trust;
based upon the amount of property or funds held in the trust estate.
(b) A court may, at the court's discretion, allow a trustee described in subsection (a) to resign if:
(1) the trustee petitions the court; and
(2) the court determines that the trustee's resignation will be in the best interests of all the beneficiaries of the trust.
As added by P.L.199-1996, SEC.2.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 3. Rules Governing the Rights, Powers, Duties, Liabilities, and Remedies of the Parties to a Trust › 30-4-3-30. Effect of This Article on the Court's Equity Powers

Sec. 30. (Effect of This Article on the Court's Equity Powers)
Except as otherwise provided in this article, the article shall not be construed to limit the general equity powers of the court over the administration of trusts.
Formerly: Acts 1971, P.L.416, SEC.4.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 3. Rules Governing the Rights, Powers, Duties, Liabilities, and Remedies of the Parties to a Trust › 30-4-3-31. Judicial Modification of Trusts for Benevolent Public Purpose and Certain Transfers Not in Trust; Federal Compliance

Sec. 31. (a) This section is enacted for the purpose of confirming the power of Indiana courts to modify trusts for a benevolent public purpose, and transfers not in trust as described in Section 170(f)(3)(A) of the Internal Revenue Code, to effect compliance with Sections 170, 664, 2055, 2106, and 2522 of the Internal Revenue Code so that these trusts and transfers may obtain the income tax exemption afforded by Section 664 of the Internal Revenue Code and donors or other contributors of gifts or contributions to these trusts and transfers may secure the income, estate, and gift tax charitable deductions granted by Sections 170, 2055, 2106, and 2522 of the Internal Revenue Code.
(b) Upon petition, any court of general or probate jurisdiction in Indiana may, in its discretion, modify the instrument of an inter vivos or testamentary trust for a benevolent public purpose, or transfer not in trust as described in Section 170(f)(3)(A) of the Internal Revenue Code, so that the trust or transfer complies with and conforms to the provisions of Sections 170, 664, 2055, 2106, and 2522 of the Internal Revenue Code and regulations thereunder from the date of the trust's or transfer's creation, if consent to the modification is given by:
(1) all beneficiaries of the trust or transfer; and
(2) the settlor of the trust or transfer if the settlor is living at the date of modification.
Formerly: Acts 1973, P.L.294, SEC.1. As amended by Acts 1977, P.L.301, SEC.1; Acts 1982, P.L.180, SEC.1; P.L.2-1987, SEC.46; P.L.41-2000, SEC.4.
2023 Indiana Code › Title 30. Trusts and Fiduciaries › Article 4. Trust Code › Chapter 3. Rules Governing the Rights, Powers, Duties, Liabilities, and Remedies of the Parties to a Trust › 30-4-3-32. Trustee's Liability for Breach of Trust

Sec. 32. (a) Except as stated in subsections (b) and (c), the trustee, by provisions of the trust, can be relieved of liability for breach of trust.
(b) A provision in the trust instrument is not effective to relieve the trustee of liability for breach of trust committed in bad faith, intentionally, or with reckless indifference to the interest of the beneficiary, or of liability for any profit that the trustee has derived from a breach of trust.
(c) A provision that relieves the trustee of liability for breach of trust is ineffective if it is inserted in the trust instrument as the result of an abuse by the trustee of a fiduciary or confidential relationship to the settlor.
As added by P.L.149-1984, SEC.1.