Contesting validity of revocable trust; time limits
Sec. 14. (a) A person must commence a judicial proceeding to
contest the validity of a trust that was revocable at the settlor's death
within the earlier of the following:
(1) Ninety (90) days after the person receives from the trustee
a copy of the trust certification and a notice informing the
person of:
(A) the trust's existence;
(B) the trustee's name and address; and
(C) the time allowed for commencing the proceeding.
(2) Three (3) years after the settlor's death.
(b) More than one hundred twenty (120) days after the death of
the settlor of a trust that was revocable at the settlor's death, the
trustee may distribute the trust property in accordance with the terms
of the trust. The trustee is not subject to liability for the distribution
unless:
(1) the trustee knows of a pending judicial proceeding
contesting the validity of the trust; or
(2) a potential contestant notifies the trustee of a possible
judicial proceeding to contest the trust and a judicial proceeding
is commenced not later than sixty (60) days after the contestant
sends the trustee the notification.
(c) A beneficiary of a trust that is determined to be invalid shall
return any distribution received.
As added by P.L.238-2005, SEC.46.
Last modified: May 27, 2006