Terms of agreement; execution; guardian ad litem
Sec. 2. (a) The terms of the compromise shall be set forth in an
agreement in writing which shall be executed by all competent
persons having interests or claims which will or may be affected by
the compromise, except those who may be living but whose present
existence or whereabouts is unknown and cannot after diligent search
be ascertained.
(b) Any interested person may then submit the agreement to the
court for its approval and for the purpose of directing the agreement's
execution by the personal representative of the estate, by the trustees
of every testamentary trust which will be affected by the
compromise, and by the guardians of the estates of minors, of
incapacitated persons, of unborn and unascertained persons, and of
persons whose present existence or whereabouts is unknown and
cannot after diligent search be ascertained, who might be affected by
the compromise.
(c) IC 29-1-1-20 applies if there is any person who, if living, has
an interest which may be affected by the compromise, but whose
present existence or whereabouts cannot after diligent search be
ascertained, or who is a minor or incapacitated and has no guardian
of the estate, or if there is any future contingent interest which might
be taken by any person not then in being and which might be affected
by the compromise.
(Formerly: Acts 1953, c.112, s.902.) As amended by P.L.33-1989,
SEC.38; P.L.118-1997, SEC.18.
Last modified: May 27, 2006