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 firstname.lastname@example.org.
Click here to view the full Bill Watch reports.
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" in certain cases 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. 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. Provides that an attorney in fact is entitled to judicial review and settlement of an account. Provides that absent fraud, misrepresentation, inadequate disclosure, or failure to provide proper notice, an attorney in fact is discharged from all liability as to the transactions in the accounting if proper notice is provided of the court's approval of the accounting.