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
Various probate and trust matters
H.E.A. 1208, P.L. 162 Effective: July 1, 2022 In one instance in the law on health care advance directives, changes the word "testator" to "declarant".Amends several provisions relating to the filing of notices to make those provisions consistent with Rules of Trial Procedure 86 and 87 concerning electronic filing.Resolves inconsistencies in two sections of the chapter on … [Read more...] about Various probate and trust matters