Sec. 30. (a) A custodian is entitled to reimbursement from custodial property for reasonable expenses incurred in the performance of the custodian’s duties.

will 560x170

Ask a will, trust or estate question, get an answer ASAP!
Thousands of highly rated, verified estate & trust lawyers.
Click here to chat with a lawyer about your rights.

Terms Used In Indiana Code 30-2-8.5-30

  • custodial property: means :

    Indiana Code 30-2-8.5-4

  • custodian: means a person designated as a custodian under section 24 of this chapter or a successor or substitute custodian designated under section 33 of this chapter. See Indiana Code 30-2-8.5-5
  • person: means an individual, corporation, organization, or other legal entity. See Indiana Code 30-2-8.5-11
  • transferor: means a person who makes a transfer under this chapter. See Indiana Code 30-2-8.5-15
  • Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
     (b) Except for a person who is a transferor under section 19 of this chapter, a custodian has an election during each calendar year to charge reasonable compensation for services performed during that year.

     (c) A custodian’s election to charge reasonable compensation for a calendar year must be exercised during the calendar year.

     (d) Except as provided in section 33(f) of this chapter, a custodian is not required to give a bond.

As added by P.L.267-1989, SEC.2.

  Previous section
Next section  
 Chapter 8.5 Contents