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- 2023 Edition
- Title 30. Trusts and Fiduciaries
- Article 5. Powers of Attorney
- Chapter 5. Powers
IC 30-5-5-15 Estate Transactions
Library | Indiana Statutes |
Edition | 2023 |
Currency | Current through P.L. 255-2023 |
Year | 2023 |
Citation | IC 30-5-5-15 |
(a) Language conferring general authority with respect to estate transactions means the principal authorizes the attorney in fact to do the following:
(1) Accept, receipt for, exercise, release, reject, renounce, assign, disclaim, demand, sue for, claim, and recover a legacy, bequest, devise, gift, or other property interest or payment due or payable to or for the principal.
(2) Assert an interest in and exercise power over a trust, an estate, or property subject to fiduciary control.
(3) Establish a revocable trust solely for the benefit of the principal that terminates at the death of the principal.
(4) Exercise all powers with respect to estates and trusts the principal could exercise. However, the attorney in fact may not make or change a will.
(b) In exercising powers of amendment or revocation, or powers to expend or withdraw property passing by trust, contract, or beneficiary designation at the principal's death, including specifically bequeathed property, joint accounts, life insurance, trusts, and retirement plans, the attorney in fact shall take the principal's estate plan into account to the extent the estate plan is known to the attorney in fact.
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