Indiana Code 29-3-3-3.5. Custodians of individual retirement accounts
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Sec. 3.5. (a) Except as otherwise determined in a dissolution of marriage proceeding, a custody proceeding, or another proceeding authorized by law, including a proceeding under section 6 of this chapter or another proceeding under this article, and unless a minor is married:
(2) one (1) parent, if one (1) of the parents is an incapacitated person; or
(1) the parents of the minor jointly or one (1) parent of the minor individually, if both parents are not incapacitated persons;
Terms Used In Indiana Code 29-3-3-3.5
- 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.
- minor: means a person less than eighteen (18) years of age. See Indiana Code 1-1-4-5
(3) the survivor, if one (1) parent is deceased and if the survivor is not an incapacitated person;
have the right, without the appointment of a guardian, giving of bond, or order or confirmation of court, to act as custodians of an individual retirement account established for the minor under 26 U.S.C. § 408.
(b) IC 30-2-8.5-27(b), IC 30-2-8.5-27(e), and IC 30-2-8.5-28 apply to this section.
As added by P.L.264-1995, SEC.1.