The Civil Law Committee heard SB 56 authorizing legacy trusts authored by Sens. Steele and Bray. The bill establishes procedures for creating a legacy trust that protects the transferor’s assets from creditors while allowing the transferor to retain an interest in the trust. The bill allows claims against the trust for fraudulent transfers, enforcement of certain child support o … [Read more...] about Legacy trusts
Probate
Probate code study commission
The Civil Law Committee heard SB 291 authored by Sens. Zakas and Steele recommending that the Legislative Council reestablish the probate code study commission. Two amendments were adopted by consent. The first amendment authorizes the commission to meet as needed. The second amendment removes the fiscal aspects of the bill. The Indiana State Bar Association, Probate, Trust and Real … [Read more...] about Probate code study commission
Uniform Fiduciary Access to Digital Assets Act
The Senate Judiciary Committee heard SB 368, authored by Sen. Waltz, the Uniform Fiduciary Access to Digital Assets Act. This bill enacts the Uniform Fiduciary Access to Digital Assets Act, drafted by the National Conference of Commissioners on Uniform State Laws. It vests fiduciaries with the authority to access, control, or copy digital assets – like emails and Facebook accounts. T … [Read more...] about Uniform Fiduciary Access to Digital Assets Act
Accounts under a power of attorney
The Senate Judiciary Committee heard SB 57, authored by Sen. Steele as recommended by the probate section of the Indiana State Bar Association, on accounts under a power of attorney. The bill provides that an attorney-in-fact is entitled to judicial review and settlement of an account. It also provides that absent fraud, misrepresentation, inadequate disclosure, or failure to … [Read more...] about Accounts under a power of attorney