Citations Affected: IC 30-5-6-4.
Synopsis: Power of attorney accounting. Allows a court to order an
attorney in fact to render a written accounting. (The introduced version
of this bill was prepared by the probate code study commission.)
Effective: July 1, 2000.
November 18, 1999, read first time and referred to Committee on Judiciary.
A BILL FOR AN ACT to amend the Indiana Code concerning
trusts and fiduciaries.
IS AMENDED TO READ AS FOLLOWS
[EFFECTIVE JULY 1, 2000]: Sec. 4. (a) The attorney in fact shall keep
complete records of all transactions entered into by the attorney in fact
on behalf of the principal.
(b) Except as otherwise stated in the power of attorney, the attorney in fact is not required to render an accounting. The attorney in fact shall render a written accounting if an accounting is ordered by a court, requested by the principal, a guardian appointed for the principal, or, upon the death of the principal, the personal representative of the principal's estate, or an heir or legatee of the principal.
(c) An attorney in fact shall deliver an accounting requested under subsection (b) to:
(1) the principal;
(2) a guardian appointed for the principal;
(3) the personal representative of the principal's estate;
(4) an heir of the principal after the death of the principal; or
(5) a legatee of the principal after the death of the principal;