§ 30-5-6-4.1 — Judicial review and settlement of an account; attorney in fact

Indiana § 30-5-6-4.1

• Jurisdiction: Indiana
• Art. 5: POWERS OF ATTORNEY
• Ch. 6: Duties of the Attorney in Fact

Text

1. (a) An attorney in fact is entitled to judicial
review and settlement of an account of all transactions entered into by
the attorney in fact, whether or not:
(1) the attorney in fact's authority under the power of attorney has
been revoked; or
(2) a request for an accounting is made under section 4(c) of this
chapter.
(b) Judicial review and settlement of an account is initiated upon the
filing of a petition to settle and allow an account. The petition must be
filed with the court exercising probate jurisdiction for the county in
which the principal resides. Except as otherwise provided by this
section, the procedures under IC 30-4-5-14(b), IC 30-4-5-14(c), IC 30-4-5-14(d), and IC 30-4-5-15 applicable to judicial settlement of a
trustee's account govern:
(1) the filing of objections; and
(2) all proceedings;
on the petition.
(c) A petition to settle and allow an account must be served upon all
the following that are applicable:
(1) The principal.
(2) Any guardian appointed for the principal.
(3) Any successor attorney in fact.
(4) If the principal is deceased and a personal representative has
been appointed:
(A) the personal representative;
(B) any other fiduciary of the principal, if applicable; and
(C) any person beneficially interested in the decedent's estate.
(5) If the principal is deceased and a personal representative has
not been appointed, the principal's heirs at law.
(6) If the principal is deceased and the principal's will is probated
without administration:
(A) the personal representative named in the probated will; and
(B) all persons or entities beneficially interested in the probated
will.
(7) Any other person that the court directs.
(d) An attorney in fact is discharged from liability as to the
transactions disclosed in the accounting if:
(1) the court reviews and approves the accounting; and
(2) notice of the court's approval of the accounting is provided to:
(A) the principal, if the principal is not deceased; or
(B) the principal's representatives, whether or not the principal
is deceased.
(e) In the absence of fraud, misrepresentation, inadequate
disclosure, or failure to provide proper notice related to the power of
attorney transactions, the discharge from liability under subsection (d)
is lawful and binding upon all interested persons:
(1) who would assert an interest on behalf of or through the
principal; and
(2) who are:
(A) born or unborn;
(B) notified or not notified; or
(C) represented or not represented.
(f) The filing fee for a petition to settle and allow an account filed
under this section is a legitimate expense of the principal or the
principal's estate.

Legislative History

As added by P.L.81-2015, SEC.21.