Indiana Code 30-4-2.1-4. Children born after trust’s creation
(1) born or adopted after the making of the settlor’s trust; and
Terms Used In Indiana Code 30-4-2.1-4
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Child: includes an adopted child or a child that is in gestation before the death of a deceased parent and born within forty-three (43) weeks after the death of that parent. See Indiana Code 30-4-1-2
- Intestate: Dying without leaving a will.
- Settlor: means a person who establishes a trust including the testator of a will under which a trust is created. See Indiana Code 30-4-1-2
the child is entitled to receive a share in the trust assets. The child’s share of the trust assets shall be determined by ascertaining what the child’s intestate share would have been under IC 29-1-2-1 if the settlor had died intestate. The child is entitled to receive a share of the trust assets equivalent in value to the intestacy share determined under IC 29-1-2-1.
(b) Subsection (a) does not apply to a child of the settlor if:
(1) it appears from the trust that the settlor intentionally failed to provide in the settlor’s trust for the child; or
(2) the settlor:
(A) had at least one (1) child known to the settlor to be living when the trust was executed; and
(B) devised substantially all of the settlor’s trust assets to the settlor’s surviving spouse.
As added by P.L.4-2003, SEC.7. Amended by P.L.231-2019, SEC.23.