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Bill Watch, Feb. 13, 2015: Current Estate Planning & Administration Legislation of Note - Estate Planning and Administration News

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Estate Planning and Administration News

Posted on: Feb 13, 2015

The IndyBar Legislative Committee is currently monitoring the following estate planning and administration related legislation. IndyBar members can request that the Legislative Committee track specific legislation by contacting committee chair Lawren Mills at

Click here to view the full Bill Watch reports.

HB1585    POLICE EQUIPMENT. (PORTER G) Requires all patrol officers in Indiana to be equipped while on duty with a firearm, a nightstick, a taser, and mace by July 1, 2016. Allows for exceptions. Requires the Indiana criminal justice institute to identify grants and other funds that may be used to finance the purchase of required patrol officer equipment.

SB56 LEGACY TRUST. (STEELE B) Provides that a protective provision in a legacy trust prevents a creditor of the settlor from satisfying a claim from the settlor's interest in the trust estate when the settlor is also a beneficiary of the trust. Authorizes the establishment of legacy trusts. Prescribes the procedures for establishing a legacy trust. Bars most claims against a legacy trust. Permits claims against a legacy trust for certain fraudulent transfers, to enforce certain child support orders, and to enforce certain orders for the division of property with respect to a dissolution of marriage or a legal separation. Provides immunity to the trustees and advisers of legacy trusts and the professionals involved in establishing legacy trusts. Provides that the rule against perpetuities does not apply to legacy trusts.

SB291    PROBATE CODE STUDY COMMISSION. (ZAKAS J) Establishes the probate code study commission (commission). Allows the commission to meet only during interim periods. Requires the commission to study and recommend to the general assembly changes that are needed in the probate code (IC 29-1), the trust code (IC 30-4), and other statutes affecting the administration of a decedent's estate, guardianships, probate jurisdiction, trusts, or fiduciaries. Provides for the governor to appoint nine members, each of whom must reside in a separate Indiana congressional district; for the governor to appoint two additional members who work in the trust departments of financial institutions; for the president pro tempore of the senate to appoint three members from the senate; and for the speaker of the house of representatives to appoint three members from the house of representatives.

SB355    VARIOUS PROBATE AND TRUST MATTERS. (STEELE B) Provides that a trust may incorporate by reference a document that exists at the time the trust is executed. Specifies that funeral expenses and expenses of a tombstone are expenses of administration. Expands the definition of "person" under the probate code to include governmental entities and other legal entities. Provides that a nonprobate transfer to a testamentary trust: (1) is valid upon the will being admitted to probate; and (2) is not subject to claims against the probate estate. Allows a governmental entity or business entity (in addition to an individual) to be a transfer on death beneficiary of an automobile or a watercraft. Allows a governmental entity or business entity (in addition to an individual) to be appointed a health care representative. Amends the order of priority of persons who may control the disposition of a decedent's body. Provides that a power of attorney may delegate the authority of a parent or guardian with respect to the health care of a minor or protected person.


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