Sec. 14. (a) A person must commence a judicial proceeding to contest the validity of a trust that was revocable at the settlor's death within the earlier of the following:
(1) Ninety (90) days after the person receives from the trustee a copy of a trust certification required by IC 30-4-4-5 and a notice that:
(A) informs the person of the trust's existence;
(B) states the trustee's name and address;
(C) states:
(i) the person's interest in the trust, as described in the trust document; or
(ii) that the person has no interest in the trust; and
(D) states the time allowed for commencing the proceeding.
(2) Three (3) years after the settlor's death.
(b) More than one hundred twenty (120) days after the death of the settlor of a trust that was revocable at the settlor's death, the trustee may distribute the trust property in accordance with the terms of the trust. The trustee is not subject to liability for the distribution unless:
(1) the trustee knows of a pending judicial proceeding contesting the validity of the trust; or
(2) a potential contestant notifies the trustee of a possible judicial proceeding to contest the trust and a judicial proceeding is commenced not later than sixty (60) days after the contestant sends the trustee the notification.
(c) A beneficiary of a trust that is determined to be invalid shall return any distribution received.
As added by P.L.238-2005, SEC.46. Amended by P.L.51-2014, SEC.26.
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