Assignment of beneficiary's interest
Sec. 14. (Assignment of Beneficiary's Interest)
(a) If the terms of the trust give the trustee the power to sell the
trust property upon direction by the beneficiary or other person or to
sell it after a stipulated period of time in the absence of a direction
as provided in 30-4-2-13, the beneficiary may treat his interest as
personal property and may assign it to any person notwithstanding
the provisions of 30-4-2-7(c).
(b) The trustee will be bound by an assignment made under
subsection (a) of this section only after he receives written notice of
it.
(Formerly: Acts 1971, P.L.416, SEC.3.)
Last modified: May 27, 2006