Indiana Code 30-2-14-13.5. Personal representative as a fiduciary
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Sec. 13.5. A personal representative, including an executor, an administrator, a successor personal representative, a special administrator, or a person performing substantially the same function with respect to a decedent‘s estate, is a fiduciary for purposes of this chapter if:
(2) under other applicable law, the personal representative is required or allowed to account for and distribute income received during administration of the estate separately from the corpus of the estate.
(1) under the terms of a decedent’s will this chapter applies to the administration of the estate; or
Terms Used In Indiana Code 30-2-14-13.5
- Decedent: A deceased person.
- Executor: A male person named in a will to carry out the decedent
- income: means money or property that a fiduciary receives as current return from a principal asset. See Indiana Code 30-2-14-4
- person: means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, government; governmental subdivision, agency, or instrumentality; public corporation, or any other legal or commercial entity. See Indiana Code 30-2-14-9
As added by P.L.51-2014, SEC.11.