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House Bill 1287


House Bill 1287

ARCHIVE (2009)

Latest Information

 

DIGEST OF HB1287 (Updated April 24, 2009 10:46 am - DI 84)


Various probate and trust issues. Provides that a person who knowingly or intentionally uses or disburses funds in certain trust or escrow accounts for purposes other than the accounts' lawful purposes commits a Class C felony. Provides that the violation, a similar violation involving cemetery perpetual care funds, and violations of similar provisions in the funeral trust laws constitute racketeering activity. Provides that property involved with the violations may be seized under the civil forfeiture law. Specifies that damages paid to a plaintiff's estate in a personal injury case maintained by the personal representative of a plaintiff who dies from causes other than the personal injury are subject to the statutes governing the inheritance tax, the Indiana estate tax, and the generation skipping transfer tax. Requires a person paying the damages to notify the department of state revenue of the payment within ten days. Requires the department to notify the county assessor of the county in which the plaintiff was domiciled at the time of the plaintiff's death. Specifies the methods of satisfying the survivors' allowance. Provides separate procedures for the petitioned removal of a corporate personal representative following a change in the control of the corporate personal representative. Changes the mailing requirements for opening an estate or guardianship from certified mail to first class postage prepaid mail. Provides the method for determining the amount a joint owner or beneficiary of a protected person's multiple party account is entitled to receive from the protected person's estate when a guardian has used assets of the multiple party account. Makes numerous changes and additions to the power of attorney statutes. Specifies mailing address requirements for recording conveyances. Specifies that the statute of limitations period for the criminal offenses of misusing funeral trust or preneed escrow accounts is five years after the date of the death of the settlor or purchaser. Specifies that the statute of limitations period for the criminal offense of misusing a cemetery perpetual care fund is five years after the earlier of: (1) the date the state discovers evidence of the offense; or (2) the date the state could have discovered evidence of the offense through due diligence. Provides the method for determining the amount a joint owner or beneficiary of a protected person's multiple party account is entitled to receive from the protected person's estate when a guardian has used assets of the multiple party account. Authorizes individuals to designate beneficiaries to receive certain forms of property, including real property, upon the death of the individual. Establishes a statutory form for a funeral planning declaration that allows a person to provide instructions concerning the person's funeral arrangements. Provides that the declaration may be used to designate an individual who will make arrangements after the person's death. Provides that a person designated in a funeral planning declaration is first in the priority and that a person designated in a health care power of attorney is second in the priority of individuals who can authorize the cremation of another person's remains and who may authorize the owner of a cemetery to inter, entomb, or inurn the body or cremated remains of a deceased human. Specifies that a person acting as the attorney in fact under a health care power of attorney has the power to execute a funeral planning declaration on behalf of the principal. Provides that a person who relies in good faith on a funeral planning declaration is immune from liability to the same extent as if the person had dealt directly with the declarant and the declarant had been a competent and living person. Revises the law governing trusts to: (1) provide separate allocation procedures for payments made to a marital trust; and (2) permit the charging of tax payments to principal to the extent that receipts are allocated to principal. Specifies the transitional provisions. Provides that the chairman and vice chairman of the probate code study commission are appointed to serve two year terms. Makes a technical correction. (Repeals obsolete provisions). (The introduced version of this bill was prepared by the probate code study commission.)
Current Status:
 Law Enacted
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