Children born after trust's creation
Sec. 4. (a) Except as provided in subsection (b) and section 5 of
this chapter, when a settlor fails to provide in the settlor's trust for a
child who is:
(1) born or adopted after the making of the settlor's trust; and
(2) born before or after the settlor's death;
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:
(1) it appears from the trust that the settlor intentionally failed
to provide in the settlor's trust for the child; or
(2) when the trust was executed:
(A) the settlor had at least one (1) child known to the settlor
to be living; and
(B) the settlor devised substantially all of the settlor's estate
to the settlor's surviving spouse.
As added by P.L.4-2003, SEC.7.
Last modified: May 27, 2006