Sec. 16. (a) This section applies to:
(1) property in a trust that is subject to a spouse's right of election under IC 29-1-3; and
(2) a trust that receives property from the settlor's estate;
if the settlor's spouse files an effective election to take a share of the settlor's estate against the settlor's will under IC 29-1-3.
(b) The trustee shall dispose of the assets received from the settlor's estate and the portion of the trust remaining after the spouse's election as if the settlor's spouse had died before the settlor died.
As added by P.L.200-1991, SEC.4.
Structure Indiana Code
Title 30. Trusts and Fiduciaries
Chapter 2. Rules Governing the Creation of Trusts
30-4-2-1.5. Trust Not Created by Will; Requirements
30-4-2-2. Acceptance by Trustee
30-4-2-5. Life Insurance Trusts
30-4-2-6. Nature of Trustee's Estate
30-4-2-7. Nature of Beneficiary's Estate
30-4-2-9. Necessity of Powers or Duties
30-4-2-10. Capacity of Settlor
30-4-2-11. Capacity of Trustee
30-4-2-13. Application of Statute of Uses
30-4-2-14. Assignment of Beneficiary's Interest
30-4-2-15. Divorce or Annulment of Marriage; Effect on Revocable Trust