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Indiana Code Title 30. Trusts and Fiduciaries § 30-4-2.1-4

Current as of January 02, 2024 | Updated by Findlaw Staff

Sec. 4. (a) Except as provided in subsection (b) and section 5 of this chapter, when a settlor fails to provide in the settlor's trust for a child who is:

(1) born or adopted after the making of the settlor's trust;  and

(2) born before or after the settlor's death;

the child is entitled to receive a share in the trust assets.  The child's share of the trust assets shall be determined by ascertaining what the child's intestate share would have been under IC 29-1-2-1 if the settlor had died intestate.  The child is entitled to receive a share of the trust assets equivalent in value to the intestacy share determined under IC 29-1-2-1.

(b) Subsection (a) does not apply to a child of the settlor if:

(1) it appears from the trust that the settlor intentionally failed to provide in the settlor's trust for the child;  or

(2) the settlor:

(A) had at least one (1) child known to the settlor to be living when the trust was executed; and

(B) devised substantially all of the settlor's trust assets to the settlor's surviving spouse.

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Cite this article: FindLaw.com - Indiana Code Title 30. Trusts and Fiduciaries § 30-4-2.1-4 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-30-trusts-and-fiduciaries/in-code-sect-30-4-2-1-4/

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