§ 29-3-9-7 — Compromise of claim; petition to court; settlement; access to confidential exhibits

Indiana § 29-3-9-7

• Jurisdiction: Indiana
• Art. 3: GUARDIANSHIPS AND PROTECTIVE
• Ch. 9: Matters Other Than Appointment

Text

(a) Whenever it is proposed to compromise any
claim by or against a protected person or the protected person's
property, the court, on petition of the guardian, may enter an order
authorizing the compromise to be made if satisfied that the compromise
will be in the best interest of the protected person.
(b) Whenever a minor has a disputed claim against another person,
whether arising in contract, tort, or otherwise, and a guardian for the
minor and the minor's property has not been appointed, the parents of
the minor may compromise the claim. However, before the
compromise is valid, it must be approved by the court upon filing of a
petition requesting the court's approval. If the court approves the
compromise, it may direct that the settlement be paid in accordance
with IC 29-3-3-1. If IC 29-3-3-1 is not applicable, the court shall
require that a guardian be appointed and that the settlement be
delivered to the guardian upon the terms that the court directs.
(c) Any exhibit demonstrating a compromise on behalf of a
protected person or a minor and any testimony related to such
compromise that is offered or admitted into evidence in a legal
proceeding commenced under this section shall be maintained by the
court as a confidential court record. The confidential exhibits and
record may not be used in any other proceeding or for any other person.
(d) Subsection (c) does not prohibit the following persons from
having access to the confidential exhibits and record for the purpose of
learning, confirming, and enforcing the economic terms of the
compromise, for the purpose of enforcing or modifying any trust that
is funded under the compromise, or for the purpose of obtaining a
qualified order with respect to a structured settlement under IC 34-50-2
and 26 U.S.C. 5891(b):
(1) The attorney of record for the incapacitated person or minor.
(2) A guardian or guardian ad litem appointed for the
incapacitated person or minor by a court of competent
jurisdiction, and the attorney, if any, for the guardian or guardian
ad litem.
(3) Each current trustee or trust director that participates in the
administration of a trust funded under the compromise and the
attorneys of record for each current trustee or trust director.
(4) A prospective successor trustee or successor trust director that
is proposed to serve in the administration of a trust funded under
the compromise.

Legislative History

As added by P.L.169-1988, SEC.1. Amended by P.L.56-2020, SEC.7.