Ind. Code § 30-2-10-3

Current through P.L. 171-2024

Section 30-2-10-3 - Validity of trust; requirements

A funeral trust established under this chapter is valid only if it:

(1) is irrevocable;

(2) has only one (1) settlor;

(3) names as trustee an Indiana institution qualified under section 2 of this chapter, and requires that all funds be deposited in that institution;

(4) names a funeral home, licensed under IC 25-15, as sole beneficiary; and

(5) is accompanied by a written contract between settlor and beneficiary as provided in section 5 of this chapter.

IC 30-2-10-3

As added by Acts1982 , P.L. 179, SEC.2. Amended by P.L. 246-1985, SEC.23.