Indiana Code 29-1-12-5. Right of action against executor; insolvent personal representative
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Terms Used In Indiana Code 29-1-12-5
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Bequest: Property gifted by will.
- Decedent: A deceased person.
- Executor: A male person named in a will to carry out the decedent
- Testator: A male person who leaves a will at death.
Sec. 5. The naming of any person as executor in a will shall not operate as a discharge or bequest of any right of action which the testator had against such executor, but such right of action, if it survives, shall be included among the assets of the decedent in the inventory. If the personal representative is or becomes insolvent, debts owed by him to the decedent shall not be deemed assets in his hands in determining the liability on his bond.
Formerly: Acts 1953, c.112, s.1205.