The Senate Civil Law Committee heard Sen. Holdman’s SB 65 on claim deadlines. This bill removes provisions barring certain claims filed against a decedent’s estate more than nine months after the date of the decedent’s death. The amendment, adopted by consent, changes the deadline to either nine months or after two months have passed from the date notice is given to the creditor, whi … [Read more...] about Claim deadlines
Probate
Various probate and trust matters
The Senate Civil Law Committee heard Sen. Steele’s SB 355 on various probate and trust matters. This bill provides that a trust may incorporate by reference a document that exists at the time the trust is executed. It also specifies that funeral expenses and expenses of a tombstone are expenses of administration. The bill expands the definition of “person” under the probate code to i … [Read more...] about Various probate and trust matters
Legacy trust
The Senate Civil Law Committee heard SB 56, authored by Sen. Steele and Sen. Bray, on authorizing the establishment of legacy trust and prescribing the procedures for establishing one. This bill provides that a protective provision in a legacy trust prevents a creditor of the settlor from satisfying a claim from the settlor's interest in the trust estate when the settlor is also a … [Read more...] about Legacy trust
Legacy trusts
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 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