§ 30-4-10-6 — "Beneficiary with a disability"

As used in this chapter, "beneficiary with a
disability" means a beneficiary who is determined, in the exercise of an
authorized fiduciary's discretion, to have one (1) of the following
conditions:
(1) Dementia, memory loss, Parkinson's disease, or other
progressive condition that, currently or in the future, may impair
the ability of the beneficiary to provide self care or manage the
beneficiary's assets.
(2) A physical or mental condition or infirmity due to age,
cognitive impairment, addiction, or disease that impairs the
beneficiary's ability to provide self care or manage the
beneficiary's assets.
(3) The susceptibility of the beneficiary, at any age, to financial
exploitation, as defined in IC 23-19-4.1, IC 30-5-5-6.5, or FINRA
Rule 2165 approved by the United States Securities and Exchange
Commission.
(4) A condition requiring essential medical treatment or
prescription medication that the beneficiary cannot reasonably
provide for from the beneficiary's resources outside the trust
assets.
(5) A condition related directly or indirectly to the disability of a
beneficiary described in subdivisions (1) through (4) with respect
to which the settlor of the trust has expressed the settlor's intent.

Legislative History

As added by P.L.161-2022, SEC.3. Amended by P.L.11-2023, SEC.94.