IC 30-4-7
Chapter 7. Adjudicated Compromise of Controversies
IC 30-4-7-1 Application of chapter
Sec. 1. This chapter applies to the compromise of a contest or
controversy with respect to the following:
(1) The construction, validity, or effect of a trust instrument.
(2) The identity, rights, or interests of a beneficiary of a trust.
(3) The administration of a trust. As added by P.L.200-1991, SEC.6.
IC 30-4-7-2 Binding effect of compromise
Sec. 2. A compromise executed under this chapter is binding on
all parties to the compromise, including a party represented by a
guardian or guardian ad litem. As added by P.L.200-1991, SEC.6.
IC 30-4-7-3 Rights of creditors or taxing authorities
Sec. 3. A compromise executed under this chapter does not impair
the rights of creditors or taxing authorities that are not parties to the
compromise. As added by P.L.200-1991, SEC.6.
IC 30-4-7-4 Appointment of guardian or guardian ad litem
Sec. 4. The court may appoint a guardian or a guardian ad litem
to represent the following persons or interests in a compromise
executed under this chapter if the persons or interests do not have a
guardian or guardian ad litem:
(1) A minor.
(2) A person who is without legal capacity to personally act.
(3) A person whose present existence or whereabouts cannot be
ascertained.
(4) A person who is not yet born or adopted.
(5) An inalienable estate.
(6) A future contingent interest. As added by P.L.200-1991, SEC.6.
IC 30-4-7-5 Law governing appointment of guardian or guardian ad litem
Sec. 5. IC 29-1-1-20 applies to the appointment of a guardian or
guardian ad litem under section 4 of this chapter. As added by P.L.200-1991, SEC.6.
IC 30-4-7-6 Agreement of compromise
Sec. 6. The terms of a compromise executed under this chapter
must be set forth in an agreement that is:
(1) in writing; and
(2) executed by all persons or the guardians or guardians ad
litem appointed under section 4 of this chapter of all persons
who:
(A) have an interest in the trust; or
(B) have a claim against the trust. As added by P.L.200-1991, SEC.6.
IC 30-4-7-7 Docket of documents
Sec. 7. After a compromise is executed, an interested person may
docket the trust and submit the following documents to the court for
the court's approval:
(1) The agreement executed under section 6 of this chapter.
(2) A copy of the trust instrument.
(3) Any other relevant documents. As added by P.L.200-1991, SEC.6.
IC 30-4-7-8 Notice and hearing on agreement
Sec. 8. After notice has been given in the manner directed by the
court to:
(1) all interested persons;
(2) the guardians or guardians ad litem of interested persons;
(3) the personal representative of an estate affected by the
agreement; and
(4) the trustee of a trust affected by the agreement;
the court shall hold a hearing on the agreement. As added by P.L.200-1991, SEC.6.
IC 30-4-7-9 Court order
Sec. 9. If the court finds:
(1) the contest or controversy is in good faith; and
(2) the effect of the agreement on the interests of all the parties
is just and reasonable;
the court shall enter an order approving the agreement submitted
under section 7 of this chapter and directing the trustee and the
parties to the agreement to carry out the terms of the agreement. As added by P.L.200-1991, SEC.6.
IC 30-4-7-10 Effect of entry of order
Sec. 10. If the court enters an order under section 9 of this
chapter, all further disposition of the trust that is within the scope of
the agreement shall be made under the terms of the agreement. As added by P.L.200-1991, SEC.6.
IC 30-4-7
Chapter 7. Adjudicated Compromise of Controversies
IC 30-4-7-1 Application of chapter
Sec. 1. This chapter applies to the compromise of a contest or
controversy with respect to the following:
(1) The construction, validity, or effect of a trust instrument.
(2) The identity, rights, or interests of a beneficiary of a trust.
(3) The administration of a trust. As added by P.L.200-1991, SEC.6.
IC 30-4-7-2 Binding effect of compromise
Sec. 2. A compromise executed under this chapter is binding on
all parties to the compromise, including a party represented by a
guardian or guardian ad litem. As added by P.L.200-1991, SEC.6.
IC 30-4-7-3 Rights of creditors or taxing authorities
Sec. 3. A compromise executed under this chapter does not impair
the rights of creditors or taxing authorities that are not parties to the
compromise. As added by P.L.200-1991, SEC.6.
IC 30-4-7-4 Appointment of guardian or guardian ad litem
Sec. 4. The court may appoint a guardian or a guardian ad litem
to represent the following persons or interests in a compromise
executed under this chapter if the persons or interests do not have a
guardian or guardian ad litem:
(1) A minor.
(2) A person who is without legal capacity to personally act.
(3) A person whose present existence or whereabouts cannot be
ascertained.
(4) A person who is not yet born or adopted.
(5) An inalienable estate.
(6) A future contingent interest. As added by P.L.200-1991, SEC.6.
IC 30-4-7-5 Law governing appointment of guardian or guardian ad litem
Sec. 5. IC 29-1-1-20 applies to the appointment of a guardian or
guardian ad litem under section 4 of this chapter. As added by P.L.200-1991, SEC.6.
IC 30-4-7-6 Agreement of compromise
Sec. 6. The terms of a compromise executed under this chapter
must be set forth in an agreement that is:
(1) in writing; and
(2) executed by all persons or the guardians or guardians ad
litem appointed under section 4 of this chapter of all persons
who:
(A) have an interest in the trust; or
(B) have a claim against the trust. As added by P.L.200-1991, SEC.6.
IC 30-4-7-7 Docket of documents
Sec. 7. After a compromise is executed, an interested person may
docket the trust and submit the following documents to the court for
the court's approval:
(1) The agreement executed under section 6 of this chapter.
(2) A copy of the trust instrument.
(3) Any other relevant documents. As added by P.L.200-1991, SEC.6.
IC 30-4-7-8 Notice and hearing on agreement
Sec. 8. After notice has been given in the manner directed by the
court to:
(1) all interested persons;
(2) the guardians or guardians ad litem of interested persons;
(3) the personal representative of an estate affected by the
agreement; and
(4) the trustee of a trust affected by the agreement;
the court shall hold a hearing on the agreement. As added by P.L.200-1991, SEC.6.
IC 30-4-7-9 Court order
Sec. 9. If the court finds:
(1) the contest or controversy is in good faith; and
(2) the effect of the agreement on the interests of all the parties
is just and reasonable;
the court shall enter an order approving the agreement submitted
under section 7 of this chapter and directing the trustee and the
parties to the agreement to carry out the terms of the agreement. As added by P.L.200-1991, SEC.6.
IC 30-4-7-10 Effect of entry of order
Sec. 10. If the court enters an order under section 9 of this
chapter, all further disposition of the trust that is within the scope of
the agreement shall be made under the terms of the agreement. As added by P.L.200-1991, SEC.6.
IC 30-4-7
Chapter 7. Adjudicated Compromise of Controversies
IC 30-4-7-1 Application of chapter
Sec. 1. This chapter applies to the compromise of a contest or
controversy with respect to the following:
(1) The construction, validity, or effect of a trust instrument.
(2) The identity, rights, or interests of a beneficiary of a trust.
(3) The administration of a trust. As added by P.L.200-1991, SEC.6.
IC 30-4-7-2 Binding effect of compromise
Sec. 2. A compromise executed under this chapter is binding on
all parties to the compromise, including a party represented by a
guardian or guardian ad litem. As added by P.L.200-1991, SEC.6.
IC 30-4-7-3 Rights of creditors or taxing authorities
Sec. 3. A compromise executed under this chapter does not impair
the rights of creditors or taxing authorities that are not parties to the
compromise. As added by P.L.200-1991, SEC.6.
IC 30-4-7-4 Appointment of guardian or guardian ad litem
Sec. 4. The court may appoint a guardian or a guardian ad litem
to represent the following persons or interests in a compromise
executed under this chapter if the persons or interests do not have a
guardian or guardian ad litem:
(1) A minor.
(2) A person who is without legal capacity to personally act.
(3) A person whose present existence or whereabouts cannot be
ascertained.
(4) A person who is not yet born or adopted.
(5) An inalienable estate.
(6) A future contingent interest. As added by P.L.200-1991, SEC.6.
IC 30-4-7-5 Law governing appointment of guardian or guardian ad litem
Sec. 5. IC 29-1-1-20 applies to the appointment of a guardian or
guardian ad litem under section 4 of this chapter. As added by P.L.200-1991, SEC.6.
IC 30-4-7-6 Agreement of compromise
Sec. 6. The terms of a compromise executed under this chapter
must be set forth in an agreement that is:
(1) in writing; and
(2) executed by all persons or the guardians or guardians ad
litem appointed under section 4 of this chapter of all persons
who:
(A) have an interest in the trust; or
(B) have a claim against the trust. As added by P.L.200-1991, SEC.6.
IC 30-4-7-7 Docket of documents
Sec. 7. After a compromise is executed, an interested person may
docket the trust and submit the following documents to the court for
the court's approval:
(1) The agreement executed under section 6 of this chapter.
(2) A copy of the trust instrument.
(3) Any other relevant documents. As added by P.L.200-1991, SEC.6.
IC 30-4-7-8 Notice and hearing on agreement
Sec. 8. After notice has been given in the manner directed by the
court to:
(1) all interested persons;
(2) the guardians or guardians ad litem of interested persons;
(3) the personal representative of an estate affected by the
agreement; and
(4) the trustee of a trust affected by the agreement;
the court shall hold a hearing on the agreement. As added by P.L.200-1991, SEC.6.
IC 30-4-7-9 Court order
Sec. 9. If the court finds:
(1) the contest or controversy is in good faith; and
(2) the effect of the agreement on the interests of all the parties
is just and reasonable;
the court shall enter an order approving the agreement submitted
under section 7 of this chapter and directing the trustee and the
parties to the agreement to carry out the terms of the agreement. As added by P.L.200-1991, SEC.6.
IC 30-4-7-10 Effect of entry of order
Sec. 10. If the court enters an order under section 9 of this
chapter, all further disposition of the trust that is within the scope of
the agreement shall be made under the terms of the agreement. As added by P.L.200-1991, SEC.6.
