Indiana Code 30-4-2-15. Divorce or annulment of marriage; effect on revocable trust
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Sec. 15. (a) This section does not apply to a trust:
(2) created by:
(1) that is irrevocable on the date of a divorce or an annulment; or
Terms Used In Indiana Code 30-4-2-15
- Court: means a court having jurisdiction over trust matters. See Indiana Code 30-4-1-2
- Revocable trust: A trust agreement that can be canceled, rescinded, revoked, or repealed by the grantor (person who establishes the trust).
- 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
(A) the settlor and the settlor’s spouse or former spouse under a written agreement with each other that requires the creation of the trust; or
(B) a court order.
(b) If, after creating a revocable trust, the settlor’s marriage is dissolved or annulled, all provisions in the revocable trust in favor of the settlor’s former spouse are revoked as of the time of the dissolution or annulment of the marriage. The trust provisions are reinstated if the settlor remarries the former spouse.
As added by P.L.200-1991, SEC.3. Amended by P.L.99-2024, SEC.13.