Validity of trust; requirements
Sec. 3. A funeral trust established under this chapter is valid only
if it:
(1) is irrevocable;
(2) has only one (1) settlor;
(3) names as trustee an Indiana institution qualified under
section 2 of this chapter, and requires that all funds be
deposited in that institution;
(4) names a funeral home, licensed under IC 25-15, as sole
beneficiary; and
(5) is accompanied by a written contract between settlor and
beneficiary as provided in section 5 of this chapter.
As added by Acts 1982, P.L.179, SEC.2. Amended by P.L.246-1985,
SEC.23.
Last modified: May 27, 2006