§ 30-4-1-4 — Application of article to preexisting trusts; application of amendments to preexisting trusts

Indiana § 30-4-1-4

• Jurisdiction: Indiana
• Art. 4: TRUST CODE
• Ch. 1: General Provisions

Text

(a) Except as provided elsewhere in this article,
the rules of law contained in this article shall apply to all trusts created
prior to September 2, 1971, unless to do so would:
(1) adversely affect a right given to any beneficiary;
(2) give a right to any beneficiary which the beneficiary was not
intended to have when the trust was created;
(3) impose a duty or liability on any person which was not
intended to be imposed when the trust was created; or
(4) relieve any person from any duty or liability imposed by the
terms of the trust or under prior law.
(b) Except as provided elsewhere in this article, an amendment to
the rules of law contained in this article applies to all trusts created
prior to the effective date of the applicable amendment unless to do so
would:
(1) adversely affect a right given to any beneficiary;
(2) give a right to any beneficiary that the beneficiary was not
intended to have when the trust was created;
(3) impose a duty or liability on any person that was not intended
to be imposed when the trust was created; or
(4) relieve any person from any duty or liability imposed by the
terms of the trust or under prior law.
Formerly: Acts 1971, P.L.416, SEC.2. As amended by Acts
1982, P.L.171, SEC.117; P.L.149-2012, SEC.11.