Indiana Code 30-2-8.5-19. Transfer by gift or exercise of power of appointment
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Sec. 19. A person may make:
(2) an irrevocable exercise of a power of appointment in favor of;
(1) a transfer by irrevocable gift to; or
Terms Used In Indiana Code 30-2-8.5-19
- custodian: means a person designated as a custodian under section 24 of this chapter or a successor or substitute custodian designated under section 33 of this chapter. See Indiana Code 30-2-8.5-5
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- minor: means an individual who is less than twenty-one (21) years of age. See Indiana Code 30-2-8.5-10
- person: means an individual, corporation, organization, or other legal entity. See Indiana Code 30-2-8.5-11
- transfer: means a transaction that creates custodial property under section 24 of this chapter. See Indiana Code 30-2-8.5-14
a custodian for the benefit of a minor under section 24 of this chapter.
As added by P.L.267-1989, SEC.2.