Indiana Code 30-4-3-34. Petition to determine heirs and interests in trust estate
(1) heirs of:
Terms Used In Indiana Code 30-4-3-34
- Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
- Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
- Court: means a court having jurisdiction over trust matters. See Indiana Code 30-4-1-2
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Person: has the meaning set forth in IC 30-2-14-9. See Indiana Code 30-4-1-2
- Settlor: means a person who establishes a trust including the testator of a will under which a trust is created. See Indiana Code 30-4-1-2
- Trust estate: means the trust property and the income derived from its use. See Indiana Code 30-4-1-2
- Trustee: A person or institution holding and administering property in trust.
- Trustee: has the meaning set forth in IC 30-2-14-13. See Indiana Code 30-4-1-2
(B) any person named in the trust; and
(2) respective interests of the persons described in subdivision (1) in the trust estate or any part of the trust estate.
(b) If a petition is filed under this section, the court shall fix the time for a hearing on the petition. Notice of the hearing shall be given in the following manner:
(1) Personally or by mail to persons who are named in the trust and:
(A) are known to claim;
(B) are believed to claim; or
(C) have;
an interest in the trust estate or any part of the trust estate as heir or through an heir of the settlor.
(2) By publication to any unknown heirs.
(c) When a hearing is held on the petition, the issues set forth in the petition under subsection (a) may be determined by:
(1) competent evidence; or
(2) affidavit, if there are no objections.
A record shall be made of the oral evidence. The record and affidavits must be a part of the files in the trust proceeding.
(d) If there is satisfactory proof, the court shall make a decree that determines the issues set forth in the petition under subsection (a). The court’s decree is conclusive of the facts determined by the court with regard to any interested person who has been notified personally or by mail in accordance with subsection (b)(1), subject to the interested person’s right of appeal.
(e) An act of the trustee is valid with regard to the rights and liabilities of a purchaser, a lessee, or other person who deals with the trustee for value and in good faith, if the trustee acts in:
(1) accordance with the facts as determined by the court’s decree under subsection (d);
(2) accordance with the law; and
(3) good faith.
As added by P.L.238-2005, SEC.40.