Indiana Code 32-17-13-3. Priority of liability to probate estate
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Sec. 3. Nonprobate transferees are liable for the insufficiency described in section 2 of this chapter in the following order:
(2) To the extent of the value of the nonprobate transfer received or controlled by the trustee of trusts that can be amended, modified, or revoked by the decedent during the deceased transferor’s lifetime. If there is more than one (1) such trust, in proportion to the relative value of the trusts.
(1) As provided in the deceased transferor’s will or other governing instrument.
Terms Used In Indiana Code 32-17-13-3
- Decedent: A deceased person.
- nonprobate transfer: means a valid transfer, effective at death, by a transferor:
Indiana Code 32-17-13-1
- Trustee: A person or institution holding and administering property in trust.
(3) Other nonprobate transferees in proportion to the values received.
As added by P.L.165-2002, SEC.11. Amended by P.L.163-2018, SEC.17.