2006 Indiana Code - CHAPTER 9. DEATH AND FUNERAL EXPENSES; CLAIMS AGAINST AN ESTATE
IC 12-15-9Chapter 9. Death and Funeral Expenses; Claims Against an Estate
IC 12-15-9-0.5
"Estate" and "nonprobate transfer" defined
Sec. 0.5. (a) As used in this chapter, "estate" includes:
(1) all real and personal property and other assets included
within an individual's probate estate;
(2) any interest in real property owned by the individual at the
time of death that was conveyed to the individual's survivor
through joint tenancy with right of survivorship, if the joint
tenancy was created after June 30, 2002;
(3) any real or personal property conveyed through a
nonprobate transfer; and
(4) any sum due after June 30, 2005, to a person after the death
of a Medicaid recipient that is under the terms of an annuity
contract purchased after May 1, 2005, with the assets of:
(A) the Medicaid recipient; or
(B) the Medicaid recipient's spouse.
(b) As used in this chapter, "nonprobate transfer" means a valid
transfer, effective at death, by a transferor:
(1) whose last domicile was in Indiana; and
(2) who immediately before death had the power, acting alone,
to prevent transfer of the property by revocation or withdrawal
and:
(A) use the property for the benefit of the transferor; or
(B) apply the property to discharge claims against the
transferor's probate estate.
The term does not include transfer of a survivorship interest in a
tenancy by the entireties real estate or payment of the death proceeds
of a life insurance policy.
As added by P.L.152-1995, SEC.5. Amended by P.L.178-2002,
SEC.82; P.L.224-2003, SEC.78; P.L.246-2005, SEC.107.
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