Terms Used In Indiana Code > Title 30 > Article 4 > Chapter 1 - General Provisions

• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Attorney: includes a counselor or other person authorized to appear and represent a party in an action or special proceeding. See Indiana Code 1-1-4-5
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• Beneficiary: has the meaning set forth in IC 30-2-14-2. See Indiana Code 30-4-1-2
• Charitable trust: means a trust in which all the beneficiaries are the general public or organizations, including trusts, corporations, and associations, and that is organized and operated wholly for religious, charitable, scientific, public safety testing, literary, or educational purposes. See Indiana Code 30-4-1-2
• 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
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Court: means a court having jurisdiction over trust matters. See Indiana Code 30-4-1-2
• Decedent: A deceased person.
• Designated representative: means a person who:

  Indiana Code 30-4-1-2

• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Executor: A male person named in a will to carry out the decedent
• Fiduciary: A trustee, executor, or administrator.
• 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.
• 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
• Intestate: Dying without leaving a will.
• Judicial proceeding: means a proceeding involving a trust before a court having subject matter jurisdiction of the trust, whether or not the administration of the trust is governed by Indiana law. 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.
• Minor: means any person under the age of eighteen (18) years. See Indiana Code 30-4-1-2
• Nonjudicial matter: includes but is not limited to any of the following matters or actions relating to a trust or its administration:

  Indiana Code 30-4-1-2

• 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
• Property: includes personal and real property. See Indiana Code 1-1-4-5
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• 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
• Statute: A law passed by a legislature.
• terms of a charitable trust: means the manifestation of the intent of a settlor or decedent with respect to the trust, expressed in a manner that admits of its proof in a judicial proceeding, whether by written or spoken words or by conduct. See Indiana Code 30-4-1-2
• Testator: A male person who leaves a will at death.
• 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
• Trust property: means property either placed in trust or purchased or otherwise acquired by the trustee for the trust regardless of whether the trust property is titled in the name of the trustee or the name 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