Title 30, TRUSTS AND FIDUCIARIES

Sec. 14. (Settlements; Objections; Hearing; Surcharge) (a) With respect to the annual written statement required by 30-4-5-12(a), a beneficiary or his personal representative will be deemed to have discharged the trustee from liability as to that beneficiary for all matters discl…

Sec. 14.5. (a) A trustee may obtain a nonjudicial settlement of its accounts in accordance with subsection (b) when: (1) a trust terminates pursuant to the terms of the trust; (2) a trust terminates early pursuant to IC 30-4-3-24.5; (3) a trustee resigns or is removed; or (4) a t…

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 th…

Sec. 16. (a) Unless the terms of the trust provide otherwise, and except as provided in section 17 of this chapter, the trustee is entitled to reasonable compensation from the trust estate for acting as trustee. (b) If the terms of the trust specify the trustee's compensation, th…

Sec. 17. (Compensation if Trustee Breaches Trust) (a) In a proceeding in which the trustee is found to be in breach of trust, the court may in its discretion either deny him all compensation, allow him a reduced compensation, or allow him full compensation. (b) In the exercise of…

Sec. 18. Subject to section 20 of this chapter, every corporation which is organized under the laws of this state and which is a private foundation as defined in Section 509(a) of the Internal Revenue Code shall, unless otherwise provided in the articles of incorporation of such …

Sec. 19. The provisions of 30-4-5-18 shall not apply to any such corporation organized before January 1, 1970, to the extent that a court of competent jurisdiction shall determine that application of such section to such corporation would be contrary to the terms of any instrumen…

Sec. 20. The provisions of 30-4-5-18 shall be effective as to corporations to which such section applies in accordance with the following subsections (a) and (b): (a) With respect to each such corporation organized on or after January 1, 1970, the provisions of 30-4-5-18 shall be…

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 amo…

Sec. 22. The provisions of 30-4-5-21 shall not apply to any such trust created before January 1, 1970, to the extent that a court of competent jurisdiction shall determine that application of such section to such trust would be contrary to the terms of any instrument which may no…

Sec. 23. The provisions of 30-4-5-21 shall be effective as to trusts to which such section applies in accordance with the following subsections (a) and (b): (a) With respect to each such trust first existing on or after January 1, 1970, the provisions of 30-4-5-21 shall be effect…

Sec. 25. (a) As used in this section, "interested person" means a person whose consent would be required to achieve a binding settlement were the settlement to be approved by the court. (b) Except as provided in subsection (c), an interested person may enter into a binding nonjud…

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 substitutin…

Sec. 1. (a) An attorney in fact has a power granted under this chapter if the power of attorney incorporates the power by: (1) referring to the descriptive language in sections 2 through 19 of this chapter; or (2) citing to a specific section of sections 2 through 19 of this chap…

Sec. 10. (a) Language conferring general authority with respect to fiduciary transactions means the principal authorizes the attorney in fact to do the following if the principal has the authority to delegate: (1) Apply for and procure, in the name of the principal, letters of ad…

Sec. 11. (a) Language conferring general authority with respect to claims and litigation means the principal authorizes the attorney in fact to do the following: (1) Assert and prosecute before a court, an administrative board, a department, a commissioner, or other tribunal, a c…

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 …

Sec. 13. (a) Language conferring general authority with respect to benefits from military service means the principal authorizes the attorney in fact to do the following: (1) Execute vouchers in the name of the principal for allowances and reimbursements payable to the United Sta…

Sec. 14. (a) Language conferring general authority with respect to records, reports, and statements means the principal authorizes the attorney in fact to do the following: (1) Keep records of cash received and disbursed for or on account of the principal, of credits and debits t…

Sec. 14.5. (a) Language conferring general authority with respect to electronic records, reports, and statements authorizes the attorney in fact to do the following: (1) Gain access to any computer, storage device, network, communications device, or other computing machinery that…

Sec. 15. (a) Language conferring general authority with respect to estate transactions means the principal authorizes the attorney in fact to do the following: (1) Accept, receipt for, exercise, release, reject, renounce, assign, disclaim, demand, sue for, claim, and recover a le…

Sec. 16. (a) This section does not prohibit an individual capable of consenting to the individual's own health care or to the health care of another from consenting to health care administered in good faith under the religious tenets and practices of the individual requiring heal…

Sec. 17. (a) If the attorney in fact has the authority to consent to or refuse health care under section 16(b)(2) of this chapter, the attorney in fact may be empowered to ask in the name of the principal for health care to be withdrawn or withheld when it is not beneficial or wh…

Sec. 18. Language conferring general authority with respect to delegating authority means the principal authorizes the attorney in fact to delegate in writing to one (1) or more persons any or all powers given to the attorney in fact by the power of attorney. An action taken by a…

Sec. 19. Language conferring general authority with respect to all other matters means the principal authorizes the attorney in fact to act as an alter ego of the principal with respect to all possible matters and affairs affecting property owned by the principal that the princip…

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 eithe…

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 ow…

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 ow…

Sec. 4.5. (a) Language conferring general authority with respect to retirement plans means the principal authorizes the attorney in fact to: (1) make contributions, including rollover contributions, or cause contributions to be made on behalf of the principal to any retirement pl…

Sec. 5. (a) Language conferring general authority with respect to banking transactions means the principal authorizes the attorney in fact to do the following: (1) Continue, modify, or terminate a deposit account or other banking arrangement made by or on behalf of the principal …

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 princ…

Sec. 6.5. (a) The following definitions apply throughout this section: (1) "Account" means any account that a specified adult may access or use to transact business. (2) "All other matters" has the meaning set forth in IC 30-5-5-19. (3) "Financial exploitation" means: (A) the unl…

Sec. 7. (a) Language conferring general authority with respect to insurance transactions means the principal authorizes the attorney in fact to do the following: (1) Continue, pay the premium or assessment on, modify, rescind, release, or terminate a contract of life, accident, h…

Sec. 7.5. (a) Language conferring general authority with respect to transfer on death or payable on death transfers means the principal authorizes the attorney in fact to do the following: (1) Establish one (1) or more transfer on death transfers or payable on death transfers. (2…

Sec. 8. (a) Language conferring general authority with respect to beneficiary transactions means the principal authorizes the attorney in fact to do the following: (1) Represent and act for the principal in all ways and in all matters affecting a trust, a probate, an estate, a gu…

Sec. 9. (a) Language conferring general authority with respect to gift transactions means the principal authorizes the attorney in fact to do the following: (1) Make gifts to organizations, charitable or otherwise, to which the principal has made gifts, and satisfy pledges made t…

Sec. 1. Administrators and executors of estates of deceased persons and guardians of the estates of persons under eighteen (18) years of age and incapacitated persons (as defined in IC 29-3-1-7.5) are authorized to execute oil and gas, coal, or other mining leases upon the lands …

Sec. 2. Upon the filing of a petition under section 1 of this chapter, the court in its discretion and upon showing of benefit to the estate of the decedent or protected person shall make an order authorizing and directing the administrator, executor, or guardian to sell a lease …

Sec. 3. In compliance with the terms of the order for the sale of said oil and gas, coal, or other mineral lease, said administrator, executor, or guardian shall offer said lease for sale and sell the same to the highest bidder upon such terms and conditions as the court shall or…

Sec. 4. Every guardian, executor, or administrator shall have the power, upon approval by the court wherein the guardianship is pending, to execute agreements consolidating the lands of the protected person or of the estate covered by an oil and gas mining lease that has been exe…

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.

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 distr…

Sec. 2. The income arising from any trust within the classification mentioned in the preceding section may be permitted to accumulate in accordance with the terms of such trust for as long a time as may be necessary to accomplish the purposes for which the same was created, notwi…

Sec. 3. No rule of law against perpetuities or suspension of the power of alienation of the title to property, or the accumulation of income, shall operate to invalidate any trust created or attempted to be created before September 10, 1949, by an employer as part of a stock bonu…

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.

Sec. 10. (Representation by Class or Similar Interest) Any adjudication involving the interests of persons represented by a personal representative shall be lawful and binding upon all interested persons, whether born or unborn, whether notified or not notified, and whether repre…