Sec. 1. (a) This chapter applies to a trust created before, on, or after July 1, 2022, that:
(1) has its principal place of administration in this state, including a trust whose principal place of administration has been changed to this state; or
(2) provides by its trust instrument that it is governed by the law of this state or is governed by the law of this state for the purpose of:
(A) administration, including administration of a trust whose governing law for purposes of administration has been changed to the law of this state;
(B) construction of terms of the trust; or
(C) determining the meaning or effect of terms of the trust.
(b) Except as provided in subsections (c) and (d), this chapter applies to an express trust that is irrevocable or revocable by the settlor only with the consent of the trustee or a person holding an adverse interest.
(c) This chapter does not:
(1) apply to a trust held solely for charitable purposes;
(2) limit the power of a trustee, powerholder, or other person to distribute or appoint property in further trust;
(3) limit the power to modify a trust under the trust instrument, law of this state other than this chapter, common law, a court order, or a nonjudicial settlement agreement; or
(4) affect the ability of a settlor to provide in a trust instrument for the distribution of the trust property or appointment in further trust of the trust property or for modification of the trust instrument. Such provisions in the trust instrument shall control over any applicable provision of this chapter.
(d) Subject to section 45 of this chapter, a trust instrument may restrict or prohibit exercise of the decanting power.
As added by P.L.161-2022, SEC.3.
Structure Indiana Code
Title 30. Trusts and Fiduciaries
Chapter 10. Uniform Trust Decanting Act
30-4-10-2. "Appointive Property"
30-4-10-3. "Ascertainable Standard"
30-4-10-4. "Authorized Fiduciary"
30-4-10-6. "Beneficiary With Disability"
30-4-10-7. "Charitable Interest"
30-4-10-8. "Charitable Organization"
30-4-10-9. "Charitable Purpose"
30-4-10-11. "Current Beneficiary"
30-4-10-13. "Designated Representative"
30-4-10-14. "Expanded Distributive Discretion"
30-4-10-16. "First-Trust Instrument"
30-4-10-17. "General Power of Appointment"
30-4-10-20. "Power of Appointment"
30-4-10-22. "Presently Exercisable Power of Appointment"
30-4-10-23. "Qualified Beneficiary"
30-4-10-24. "Reasonably Definite Standard"
30-4-10-27. "Second-Trust Instrument"
30-4-10-31. "Terms of the Trust"
30-4-10-32. "Trust Instrument"
30-4-10-34. Liability for an Action or Failure to Act by a Trustee or Person
30-4-10-35. Authorized Fiduciary; Notice of Intent to Exercise Decanting Power
30-4-10-36. Notice Requirements
30-4-10-37. Effect of Notice on Exercise of Decanting Power
30-4-10-38. Notice to a Person Authorized to Represent Another Person
30-4-10-40. Exercise of Decanting Power; Written Record
30-4-10-42. Limited Distributive Discretion
30-4-10-43. Beneficiary With a Disability
30-4-10-44. Determinable Charitable Interest; Authority of the Attorney General
30-4-10-45. First-Trust Instrument Restriction on Decanting Power
30-4-10-46. Compensation of Authorized Fiduciary
30-4-10-47. Second-Trust Instrument; Liability of Authorized Fiduciary
30-4-10-48. Modification of the First-Trust Instrument
30-4-10-50. Duration of Second Trust; Property Attributable to Both First Trust and Second Trust
30-4-10-51. Discretionary Distribution
30-4-10-54. Reference to Trust Instrument or Terms of Trust Instrument
30-4-10-55. Decanting Power of a Settlor of a First Trust; Settlor Intent of Second Trust
30-4-10-56. Property Discovered After Distribution of the First Trust
30-4-10-57. Liability Against Property of a First Trust