§ 30-4-2.1-4 — Children born after trust's creation

Indiana § 30-4-2.1-4

• Jurisdiction: Indiana
• Art. 4: TRUST CODE
• Ch. 2.1: Rules for Interpretation of Trusts

Text

(a) Except as provided in subsection (b) and
section 5 of this chapter, when a settlor fails to provide in the settlor's
trust for a child who is:
(1) born or adopted after the making of the settlor's trust; and
(2) born before or after the settlor's death;
the child is entitled to receive a share in the trust assets. The child's
share of the trust assets shall be determined by ascertaining what the
child's intestate share would have been under IC 29-1-2-1 if the settlor
had died intestate. The child is entitled to receive a share of the trust
assets equivalent in value to the intestacy share determined under IC 29-1-2-1.
(b) Subsection (a) does not apply to a child of the settlor if:
(1) it appears from the trust that the settlor intentionally failed to
provide in the settlor's trust for the child; or
(2) the settlor:
(A) had at least one (1) child known to the settlor to be living
when the trust was executed; and
(B) devised substantially all of the settlor's trust assets to the
settlor's surviving spouse.

Legislative History

As added by P.L.4-2003, SEC.7. Amended by P.L.231-2019, SEC.23.