Indiana § 32-17-14-21 Trusts as designated beneficiaries

Indiana Statutes

§ 32-17-14-21 — Trusts as designated beneficiaries

Indiana·Title 32 PROPERTY·Art. 17 INTERESTS IN PROPERTY·Ch. 14 Transfer on Death Property Act

(a)A trustee of a trust may be a designated beneficiary regardless of whether the trust is amendable, revocable, irrevocable, funded, unfunded, or amended after the designation is made.

(b)Unless a beneficiary designation provides otherwise, a trust that is revoked or terminated before the death of the owner is considered nonexistent at the owner's death.

(c)Unless a beneficiary designation provides otherwise, a legal entity or trust that does not:

(1)exist; or

(2)come into existence effective as of the owner's death; is considered nonexistent at the owner's death.

(d)For purposes of this section, an owner's testamentary trust is considered to have come into existence as of the owner's death if the owner's last will and testament is admitted to probate.

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(a) A trustee of a trust may be a designated
beneficiary regardless of whether the trust is amendable, revocable,
irrevocable, funded, unfunded, or amended after the designation is
made.
(b) Unless a beneficiary designation provides otherwise, a trust that
is revoked or terminated before the death of the owner is considered
nonexistent at the owner's death.
(c) Unless a beneficiary designation provides otherwise, a legal
entity or trust that does not:
(1) exist; or
(2) come into existence effective as of the owner's death;
is considered nonexistent at the owner's death.
(d) For purposes of this section, an owner's testamentary trust is
considered to have come into existence as of the owner's death if the
owner's last will and testament is admitted to probate.

Indiana § 32-17-14-21 (Trusts as designated beneficiaries) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.