§ 32-17-8-2 — Exclusions

This chapter does not apply to the following:
(1) A nonvested property interest or a power of appointment
arising out of a nondonative transfer, except a nonvested property
interest or a power of appointment arising out of any of the
following:
(A) A premarital or postmarital agreement.
(B) A separation or divorce settlement.
(C) A spouse's election.
(D) A similar arrangement arising out of a prospective, an
existing, or a previous marital relationship between the parties.
(E) A contract to make or not to revoke a will or trust.
(F) A contract to exercise or not to exercise a power of
appointment.
(G) A transfer in satisfaction of a duty of support.
(H) A reciprocal transfer.
(2) A fiduciary's power relating to the administration or
management of assets, including the power of a fiduciary to sell,
lease, or mortgage property, and the power of a fiduciary to
determine principal and income.
(3) A power to appoint a fiduciary.
(4) A discretionary power of a trustee to distribute principal
before termination of a trust to a beneficiary having an
indefeasibly vested interest in the income and principal.
(5) A nonvested property interest held by a charity, government,
or governmental agency or subdivision, if the nonvested property
interest is preceded by an interest held by another charity,
government, or governmental agency or subdivision.
(6) A nonvested property interest in or a power of appointment
with respect to a trust or other property arrangement forming part
of a pension, a profit sharing, a stock bonus, a health, a disability,
a death benefit, an income deferral, or other current or deferred
benefit plan for one (1) or more employees, independent
contractors, or their beneficiaries or spouses, to which
contributions are made for the purpose of distributing to or for the
benefit of the participants or their beneficiaries or spouses the
property, income, or principal in the trust or other property
arrangement, except a nonvested property interest or a power of
appointment that is created by an election of a participant or a
beneficiary or spouse.
(7) A property interest, power of appointment, or arrangement
that was not subject to the common law rule against perpetuities
or is excluded by another Indiana statute.
(8) A:
(A) provision for the accumulation of an amount of the income
of a trust estate reasonably necessary for the upkeep, repair, or
proper management of the subject of the estate;
(B) direction in a trust that provides for the allocation wholly or
in part to the principal of the trust of stock dividends or stock
rights derived from shares held in a trust;
(C) provision for a sinking or reserve fund; or
(D) statutory provision directing an accumulation.
[Pre-2002 Recodification Citation: 32-1-4.5-2.]

Legislative History

As added by P.L.2-2002, SEC.2.