Sec. 27. (a) If
property is given to a
trust for a benevolent public purpose and the property is to be applied to a particular charitable purpose, and it is or becomes impossible, impracticable, wasteful, or illegal to carry out the particular purpose, and if the
settlor manifested a more general intention to devote the property to charitable purposes, the trust need not fail, but the
court may direct the application of the property to some charitable purpose which falls within the general charitable intention of the settlor.
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Terms Used In Indiana Code 30-4-3-27
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Beneficiary: has the meaning set forth in IC 30-2-14-2. See Indiana Code 30-4-1-2
- Charitable trust: means a trust in which all the beneficiaries are the general public or organizations, including trusts, corporations, and associations, and that is organized and operated wholly for religious, charitable, scientific, public safety testing, literary, or educational purposes. See Indiana Code 30-4-1-2
- Court: means a court having jurisdiction over trust matters. See Indiana Code 30-4-1-2
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Property: includes personal and real property. See Indiana Code 1-1-4-5
- 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
- Trust for a benevolent public purpose: means a charitable trust (as defined in subdivision (5)), a split-interest trust (as defined in Section 4947 of the Internal Revenue Code), a perpetual care fund established under IC 23-14-48-2, a prepaid funeral plan or funeral trust established under IC 30-2-9, a funeral trust established under IC 30-2-10, a trust or an escrow account created from payments of funeral, burial services, or merchandise in advance of need described in IC 30-2-13, and any other form of split-interest charitable trust that has both charitable and noncharitable beneficiaries, including but not limited to charitable remainder trusts, charitable lead trusts, and charitable pooled income funds. See Indiana Code 30-4-1-2
- Trust property: means property either placed in trust or purchased or otherwise acquired by the trustee for the trust regardless of whether the trust property is titled in the name of the trustee or the name of the trust. See Indiana Code 30-4-1-2
(1) the trust property is to revert to the settlor and the settlor is still alive; or
(2) less than twenty-one (21) years have elapsed since the trust was created.
(c) A living heir of the settlor or a living beneficiary named in the original trust agreement may present evidence to the court of:
(1) the heir’s or beneficiary’s opinion of the settlor’s intent; and
(2) the heir’s or beneficiary’s wishes;
regarding the property given in trust.
Formerly: Acts 1971, P.L.416, SEC.4. As amended by P.L.41-2000, SEC.3; P.L.238-2005, SEC.37.
