CHAPTER 2. DEFINITIONS

IC 32-17.5-2
    Chapter 2. Definitions

IC 32-17.5-2-1
"Beneficiary designation"
    Sec. 1. "Beneficiary designation" means an instrument, other thanan instrument creating a trust, naming the beneficiary of:
        (1) an annuity or insurance policy;
        (2) an account with a designation for payment on death;
        (3) a security registered in beneficiary form;
        (4) a pension, profit sharing, retirement, or other employmentrelated benefit plan; or
        (5) any other nonprobate transfer at death, except for propertyheld as joint tenants with rights of survivorship or as tenants bythe entireties.
As added by P.L.5-2003, SEC.1.

IC 32-17.5-2-2
"Disclaimant"
    Sec. 2. "Disclaimant" means the person to whom a disclaimedinterest or power would have passed had the disclaimer not beenmade.
As added by P.L.5-2003, SEC.1.

IC 32-17.5-2-3
"Disclaimed interest"
    Sec. 3. "Disclaimed interest" means the interest that would havepassed to the disclaimant had the disclaimer not been made.
As added by P.L.5-2003, SEC.1.

IC 32-17.5-2-4
"Disclaimer"
    Sec. 4. "Disclaimer" means a refusal to accept an interest in orpower over property.
As added by P.L.5-2003, SEC.1.

IC 32-17.5-2-5
"Fiduciary"
    Sec. 5. "Fiduciary" means:
        (1) a personal representative, a trustee, or an agent acting undera power of attorney; or
        (2) a person authorized to act as a fiduciary with respect to theproperty of another person.
As added by P.L.5-2003, SEC.1.

IC 32-17.5-2-6
"Future interest"
    Sec. 6. "Future interest" means an interest that, if it takes effect inpossession or enjoyment, takes effect later than the time of itscreation.As added by P.L.5-2003, SEC.1.

IC 32-17.5-2-7
"Jointly held property"
    Sec. 7. "Jointly held property" means property held in the nameof at least two (2) persons under an arrangement in which:
        (1) all holders have concurrent interests; and
        (2) the last surviving holder is entitled to the whole of theproperty.
As added by P.L.5-2003, SEC.1.

IC 32-17.5-2-8
"Person"
    Sec. 8. "Person" means an individual, a corporation, a businesstrust, an estate, a trust, a partnership, a limited liability company, anassociation, a joint venture, a government, a governmentalsubdivision, an agency, or instrumentality, a public corporation, orany other legal or commercial entity.
As added by P.L.5-2003, SEC.1.

IC 32-17.5-2-9
"State"
    Sec. 9. "State" means a state of the United States, the District ofColumbia, Puerto Rico, the United States Virgin Islands, or anyterritory or insular possession subject to the jurisdiction of theUnited States. The term includes an Indian tribe or band or Alaskannative village recognized by federal law or formally acknowledgedby a state.
As added by P.L.5-2003, SEC.1.

IC 32-17.5-2-10
"Time of distribution"
    Sec. 10. "Time of distribution" means the time when a disclaimedinterest would otherwise have taken effect in possession orenjoyment.
As added by P.L.5-2003, SEC.1.

IC 32-17.5-2-11
"Trust"
    Sec. 11. "Trust" means:
        (1) a charitable or noncharitable express trust and any additionsto the trust, regardless of when or how the trust is created; and
        (2) a trust created under a statute, judgment, or decree whichrequires the trust to be administered in the manner of an expresstrust.
As added by P.L.5-2003, SEC.1.