IC 29-2-6
    Chapter 6. Administration of Absentee's Estate Where There Is aWill or Trust

IC 29-2-6-1
Distribution of estates; bond; trustee appointed
    Sec. 1. When any resident of this state shall have absented himselffrom his usual place of residence and gone to parts unknown for aspace of five (5) years, and when, in such case, thirty (30) days'notice shall have been given to such person by publication in anewspaper of general circulation published at the capital of the state,and also in a paper published in the county where he last resided insuch state, if there be any, it shall be presumed and taken by the courthaving probate jurisdiction in the county where such person lastresided, or any county of said state where trust funds or an interesttherein have been left to such person, as hereinafter set out, that suchperson is dead, upon presentation of proper proof of such absenceand of publication of notice. Any interest any such absentee wouldhave in any property under and by the terms of any will shall beadministered upon by the executor of such will the same as thoughsuch person were in fact dead; and where, by the terms of any will,a trust has been created in favor of such absentee, such trust shall beterminated and the executor of such will or the trustee in charge ofsaid trust funds shall administer and dispose of such funds as areprovided in such will upon the death of the cestui que trust:Provided, however, That before any distribution of any such trustfunds shall be made to the person or persons entitled to receive thesame, he or they shall give security to the approval of the propercircuit or superior court or probate court of the county havingjurisdiction thereof, in such sum as the court shall direct, andconditioned that if the absentee shall, in fact, be at the time alive, heor they will respectively refund the amounts received by each, withinterest, on demand of said cestui que trust, said bond to run and beenforced for the period of three (3) years from the date of thejudgment of the court declaring said absentee legally dead, and if,during said period of three (3) years, the absentee shall not appearand demand any rights he may have in said trust, the rights of theabsentee thereto shall be barred; but if the person or persons entitledto receive the same is or are unable to give the security aforesaid,then the court shall appoint a trustee, who shall give bond for thefaithful performance of his duties in one and one-half times theamount of such money, with sufficient sureties, who shall invest saidmoney at interest, as the court may direct, which interest is to be paidannually to the person or persons entitled to it, and the money toremain at interest until the security aforesaid is given, and if theabsentee does not appear and demand said money and his rights insaid trust within said period of three (3) years, the court shall orderthe money so held by such trustee so appointed by said court to bepaid to the person or persons entitled to it absolutely. The provisionsof this section shall apply to all pending and future administrations

of trust funds left to absentees.
(Formerly: Acts 1915, c.43, s.1.)