Indiana Code 29-1-19-12. Compensation of guardian; liquidation of loans or investments
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Sec. 12. (a) Compensation payable to guardians shall:
(2) not exceed either five percent (5%) of the amount of moneys received or such larger amount as may be established by the court during the period covered by the account.
(1) be based upon services rendered; and
Terms Used In Indiana Code 29-1-19-12
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Department: refers to the United States Department of Veterans Affairs. See Indiana Code 29-1-19-1
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- Guardian: means any fiduciary for the person or estate of a protected person or a person designated by a protective order issued under IC 29-3 to act on behalf of a protected person. See Indiana Code 29-1-19-1
(b) In the event of extraordinary services by any guardian, the court, upon petition and hearing thereon, may authorize reasonable additional compensation for the services. A copy of the petition and notice of hearing on the petition shall be given the proper office of the department in the manner provided in the case of hearing on a guardian‘s account or other pleading.
(c) No commission or compensation shall be allowed on the moneys or other assets received from a prior guardian nor upon the amount received from liquidation of loans or other investments.
Formerly: Acts 1953, c.112, s.2012; Acts 1971, P.L.413, SEC.3. As amended by P.L.1-1990, SEC.271.