Full Statute Name:  West's Annotated Indiana Code. Title 30. Trusts and Fiduciaries. Article 4. Trust Code. Chapter 2. Rules Governing The Creation of Trusts. 30-4-2-18 Trust to provide for care of an animal alive during settlor's lifetime.

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Primary Citation:  I.C. 30-4-2-18 Country of Origin:  United States Last Checked:  December, 2014 Alternate Citation:  IN ST 30-4-2-18 Date Adopted:  2005
Summary:

Indiana's pet trust law was enacted in 2005. The trust terminates upon the death of the animal or upon death of last surviving animal alive during settlor’s lifetime. Property of a trust authorized by this section may be applied only to the trust's intended use, except to the extent the court determines that the value of the trust property exceeds the amount required for the trust's intended use.

Statute Text: 

Sec. 18. (a) A trust may be created to provide for the care of an animal alive during the settlor's lifetime.

(b) A trust authorized by this section terminates as follows:

(1) If the trust is created to provide for the care of one (1) animal alive during the settlor's lifetime, the trust terminates on the death of the animal.

(2) If the trust is created to provide for the care of more than one (1) animal alive during the settlor's lifetime, the trust terminates on the death of the last surviving animal.

(c) A trust authorized by this section may be enforced by the following:

(1) A person appointed in the terms of the trust.

(2) A person appointed by the court, if the terms of the trust do not appoint a person.

(d) A person having an interest in the welfare of an animal for whose care a trust is established may request the court to:

(1) appoint a person to enforce the trust; or

(2) remove a person appointed to enforce the trust.

(e) Property of a trust authorized by this section may be applied only to the trust's intended use, except to the extent the court determines that the value of the trust property exceeds the amount required for the trust's intended use.

(f) Except as provided in the terms of the trust, property not required for the trust's intended use must be distributed to the following:

(1) The settlor, if the settlor is living.

(2) The settlor's successors in interest, if the settlor is deceased.

CREDIT(S)

As added by P.L.238-2005, SEC.26.

 

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