Section 30-4-2.1-4 - Children born after trust's creation(a) Except as provided in subsection (b) and section 5 of this chapter, when a settlor fails to provide in the settlor's trust for a child who is: (1) born or adopted after the making of the settlor's trust; and(2) born before or after the settlor's death; the child is entitled to receive a share in the trust assets. The child's share of the trust assets shall be determined by ascertaining what the child's intestate share would have been under IC 29-1-2-1 if the settlor had died intestate. The child is entitled to receive a share of the trust assets equivalent in value to the intestacy share determined under IC 29-1-2-1.
(b) Subsection (a) does not apply to a child of the settlor if: (1) it appears from the trust that the settlor intentionally failed to provide in the settlor's trust for the child; or(2) the settlor: (A) had at least one (1) child known to the settlor to be living when the trust was executed; and(B) devised substantially all of the settlor's trust assets to the settlor's surviving spouse.Amended by P.L. 231-2019,SEC. 23, eff. 7/1/2019.As added by P.L. 4-2003, SEC.7.