Current through P.L. 171-2024
Section 29-1-8-10 - Nonprobate transfer by a transferee that is a testamentary trust established in a will; application(a) This section applies only to a nonprobate transfer (as defined in IC 32-17-13-1) by a transferee that is a testamentary trust established in a will that is admitted to probate under this article.(b) All of the following apply to a nonprobate transfer described in subsection (a):(1) The nonprobate transfer is considered effective upon the decedent's death, if the decedent's will is admitted to probate, regardless of when the will is admitted to probate.(2) The nonprobate transfer: (A) does not constitute part of the estate (as defined in IC 29-1-1-3); and(B) is not subject to claims other than as provided in IC 32-17-13.(3) The nonprobate transfer is not considered the decedent's transfer to the testamentary trust by the decedent's will for all other purposes of the Indiana Code.Added by P.L. 81-2015, SEC. 16, eff. 7/1/2015.