This is the final installment of the Legislative Update for the 2022 legislative session. This installment contains summaries of select bills of interest or portions of bills that were signed into law. Civil Law Newborn safety device (S.E.A. 185, P.L. 107) Agritourism activities (S.E.A. 343, P.L. 63) Controllable electronic records (S.E.A. 351, P.L. 110) Protective … [Read more...] about 2022 Legislative Session Digest
Probate
Solvent supervised estates
S.E.A. 66, P.L. 150 Effective: July 1, 2022 Sets forth procedures for the distribution of assets in a solvent supervised estate after a final distribution has been entered in certain circumstances.Allows a distributee to distribute assets described in the decree of final distribution by filing an affidavit with the court.Provides that undistributed real property may be … [Read more...] about Solvent supervised estates
Small estates
S.E.A. 67, P.L. 151 Effective: July 1, 2022 Increases the value of estates that may be distributed via affidavit from $50,000 to $100,000. Increases the threshold for summary procedures for unsupervised estates from $50,000 to $100,000. The introduced version of this bill was prepared by the Probate Code Study Commission. Read the bill at: … [Read more...] about Small estates
Probate Code Study Commission
S.E.A. 193, P.L. 154 Effective: July 1, 2022 Provides that the chief justice of the supreme court, or the chief justice's designee, is a nonvoting member of the probate code study commission (commission). Provides that eight affirmative votes are required for the commission to take final action. Read the bill at: http://iga.in.gov/legislative/2022/bills/senate/193 … [Read more...] about Probate Code Study Commission
Uniform trust decanting act and trustee duties
H.E.A. 1205, P.L. 161 Effective: July 1, 2022 Allows a trustee of an irrevocable trust to appoint a successor trustee or multiple trustees. Provides that a trustee's power to appoint a successor trustee includes the power to allocate trustee powers to one or more trustees.Enacts the uniform trust decanting act.Creates a definition of the decanting power to include a power by a … [Read more...] about Uniform trust decanting act and trustee duties