Indiana Code 30-4-1.5-8. Delivery of electronic trust following death of settlor
(1) A person already serving as trustee of the trust.
Terms Used In Indiana Code 30-4-1.5-8
- Adult: means any person eighteen (18) years of age or older. See Indiana Code 30-4-1-2
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Child: includes an adopted child or a child that is in gestation before the death of a deceased parent and born within forty-three (43) weeks after the death of that parent. See Indiana Code 30-4-1-2
- Clerk: means the clerk of the court or a person authorized to perform the clerk's duties. See Indiana Code 1-1-4-5
- Court: means a court having jurisdiction over trust matters. See Indiana Code 30-4-1-2
- Income: except as otherwise stated in a trust agreement, has the meaning set forth in IC 30-2-14-4. See Indiana Code 30-4-1-2
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Person: has the meaning set forth in IC 30-2-14-9. See Indiana Code 30-4-1-2
- Principal: has the meaning set forth in IC 30-2-14-10. See Indiana Code 30-4-1-2
- Probate: Proving a will
- Property: includes personal and real property. See Indiana Code 1-1-4-5
- 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 instrument: means an instrument, agreement, or other written document executed by the settlor that contains the terms of the trust, including any amendments to the terms of the trust. 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
(3) The surviving spouse of the settlor.
(4) A living adult child of the settlor.
(5) A living parent of the settlor.
(6) A living adult sibling of the settlor.
(7) A beneficiary named or defined in the electronic trust instrument and entitled to a share of the trust’s principal assets or income.
(8) The clerk of the probate court that would have subject matter jurisdiction of the settlor’s estate based on the custodian’s or other person’s knowledge of the settlor’s domicile or the location of the property of the settlor at the time of the settlor’s death.
A custodian or other person in possession of an item described in section 7(a)(1) or 7(a)(2) of this chapter may use any commercially reasonable method of delivery to accomplish the requirements of this section.
(b) If a custodian or other person has possession of both the electronic record for a deceased settlor’s electronic trust instrument and a complete converted copy of the same electronic trust instrument, the custodian or other person shall deliver both to an authorized person who:
(1) is described in subsection (a); or
(2) is specified in written instructions left by the settlor.
If the custodian or other person delivers the electronic trust instrument to the clerk of the probate court under subsection (a)(8), the custodian or other person shall deliver only a complete converted copy of the electronic trust instrument to the clerk, unless the court rules or other applicable laws explicitly require otherwise.
As added by P.L.40-2018, SEC.3. Amended by P.L.10-2019, SEC.119.