Mistaken belief that settlor's child deceased
Sec. 5. (a) Except as provided in subsection (b), if, at the time of
the making of the trust, the settlor:
(1) believes a child of the settlor to be dead; and
(2) fails to provide for the child in the settlor's trust;
the child is entitled to receive a share in the trust assets. The child's
share of the trust assets shall be determined by ascertaining what the
child's intestate share would have been under IC 29-1-2-1 if the
settlor had died intestate. The child is entitled to receive a share of
the trust assets equivalent in value to the intestacy share determined
under IC 29-1-2-1.
(b) Subsection (a) does not apply to a child of the settlor if it
appears from the trust or from other evidence that the settlor would
not have devised anything to the child had the settlor known that the
child was alive.
As added by P.L.4-2003, SEC.7.
Last modified: May 27, 2006