Sec. 55. (a) For purposes of law of this state other than this chapter and subject to subsection (b), a settlor of a first trust is deemed to be the settlor of the second trust with respect to the portion of the principal of the first trust subject to the exercise of the decanting power.

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Terms Used In Indiana Code 30-4-10-55

  • decanting power: means the power of an authorized fiduciary under this chapter to:

    Indiana Code 30-4-10-12

  • Fiduciary: A trustee, executor, or administrator.
  • first trust: means a trust over which an authorized fiduciary may exercise the decanting power. See Indiana Code 30-4-10-15
  • Principal: has the meaning set forth in IC 30-2-14-10. See Indiana Code 30-4-1-2
  • second trust: means :

    Indiana Code 30-4-10-26

  • settlor: has the meaning set forth in IC 30-4-1-2(21). See Indiana Code 30-4-10-28
  • state: means :

    Indiana Code 30-4-10-30

     (b) In determining settlor intent with respect to a second trust, a settlor of the first trust, a settlor of the second trust, and the authorized fiduciary may be considered.

As added by P.L.161-2022, SEC.3.

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