Indiana Code 30-2-15-21. Adjusting net fair market values of assets
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Sec. 21. For purposes of section 16 of this chapter, the net fair market values of the assets held in trust on the first business day of a proper valuation year shall be adjusted to reflect any:
(2) increase, in the case of a receipt;
(1) reduction, in the case of a distribution or payment; or
Terms Used In Indiana Code 30-2-15-21
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- year: means a calendar year. See Indiana Code 30-2-15-8
for the prior valuation year as if the distribution, payment, or receipt had occurred on the first day of the prior valuation year.
As added by P.L.3-2003, SEC.2.