Sec. 10. (a) This section applies only to a nonprobate transfer (as defined in IC 32-17-13-1) by a transferee that is a testamentary trust established in a will that is admitted to probate under this article.
(b) All of the following apply to a nonprobate transfer described in subsection (a):
(1) The nonprobate transfer is considered effective upon the decedent's death, if the decedent's will is admitted to probate, regardless of when the will is admitted to probate.
(2) The nonprobate transfer:
(A) does not constitute part of the estate (as defined in IC 29-1-1-3); and
(B) is not subject to claims other than as provided in IC 32-17-13.
(3) The nonprobate transfer is not considered the decedent's transfer to the testamentary trust by the decedent's will for all other purposes of the Indiana Code.
As added by P.L.81-2015, SEC.16.
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