§ 30-2-14-0.1 — Application of chapter; application of certain amendments to chapter

Indiana § 30-2-14-0.1

• Jurisdiction: Indiana
• Art. 2: GENERAL PROVISIONS
• Ch. 14: Uniform Principal and Income Act

Text

1. (a) This chapter applies to the following:
(1) Every trust existing on or created after January 1, 2003, except
as otherwise expressly provided in this chapter or by the terms of
the trust.
(2) Every decedent's estate existing on or created after January 1,
2003, to the extent that under other applicable law or the
decedent's will, the personal representative of the estate is
required or allowed to account for and distribute income received
during administration of the estate separately from the corpus.
(b) The amendments made to section 31 of this chapter by
P.L.143-2009 apply to a trust described in section 31(h) of this chapter,
on and after the following dates:
(1) If the trust is not funded as of July 1, 2009, the date of the
decedent's death.
(2) If the trust is initially funded in the calendar year beginning
January 1, 2009, the date of the decedent's death.
(3) If the trust is not described in subdivision (1) or (2), January
1, 2009.
(c) The amendments made to this section and to sections 3, 12, 14,
18, 19, 20, 21, and 38 of this chapter and the addition of section 13.5
of this chapter by legislation enacted in the 2014 regular session of the
general assembly apply to the following:
(1) The estate of a decedent dying on or after July 1, 2013.
(2) In the case of a trust existing on or created after January 1,
2003:
(A) to the principal and income receipts of the trust; and
(B) to distributions received and made by the trust before, on,
or after July 1, 2013.

Legislative History

As added by P.L.220-2011, SEC.486. Amended by P.L.51-2014, SEC.8.