Indiana 2025 Regular Session

Indiana Senate Bill SB0530 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1
2	2	Introduced Version
3	3	SENATE BILL No. 530
4	4	_____
5	5	DIGEST OF INTRODUCED BILL
6	6	Citations Affected: IC 29-1-3-1; IC 32-17-14-2.2.
7	7	Synopsis: Transfers on death and spousal shares. Provides that a
8	8	transfer on death transfer: (1) is subject to the spousal elective share;
9	9	and (2) must be allocated to the estate of the decedent solely for the
10	10	purpose of computing the spousal share.
11	11	Effective: July 1, 2025.
12	12	Crider
13	13	January 16, 2025, read first time and referred to Committee on Judiciary.
14	14	2025 IN 530—LS 7720/DI 106 Introduced
15	15	First Regular Session of the 124th General Assembly (2025)
16	16	PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana
17	17	Constitution) is being amended, the text of the existing provision will appear in this style type,
18	18	additions will appear in this style type, and deletions will appear in this style type.
19	19	Additions: Whenever a new statutory provision is being enacted (or a new constitutional
20	20	provision adopted), the text of the new provision will appear in this style type. Also, the
21	21	word NEW will appear in that style type in the introductory clause of each SECTION that adds
22	22	a new provision to the Indiana Code or the Indiana Constitution.
23	23	Conflict reconciliation: Text in a statute in this style type or this style type reconciles conflicts
24	24	between statutes enacted by the 2024 Regular Session of the General Assembly.
25	25	SENATE BILL No. 530
26	26	A BILL FOR AN ACT to amend the Indiana Code concerning
27	27	probate.
28	28	Be it enacted by the General Assembly of the State of Indiana:
29	29	1 SECTION 1. IC 29-1-3-1, AS AMENDED BY P.L.61-2006,
30	30	2 SECTION 2, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
31	31	3 JULY 1, 2025]: Sec. 1. (a) When a married individual dies testate as to
32	32	4 any part of the individual's estate, the surviving spouse is entitled to
33	33	5 take against the will under the limitations and conditions stated in this
34	34	6 chapter. The surviving spouse, upon electing to take against the will,
35	35	7 is entitled to one-half (1/2) of the net personal and real estate of the
36	36	8 testator. However, if the surviving spouse is a second or other
37	37	9 subsequent spouse who did not at any time have children by the
38	38	10 decedent and the decedent left surviving a child or children or the
39	39	11 descendants of a child or children by a previous spouse, the surviving
40	40	12 second or subsequent childless spouse shall upon such election take
41	41	13 one-third (1/3) of the net personal estate of the testator plus an amount
42	42	14 equal to twenty-five percent (25%) of the remainder of:
43	43	15 (1) the fair market value as of the date of death of the real
44	44	16 property of the testator; minus
45	45	17 (2) the value of the liens and encumbrances on the real property
46	46	2025 IN 530—LS 7720/DI 106 2
47	47	1 of the testator.
48	48	2 (b) In determining the net estate of a deceased spouse for the
49	49	3 purpose of computing the amount due the surviving spouse electing to
50	50	4 take against the will, the court shall consider only:
51	51	5 (1) such property as that would have passed under the laws of
52	52	6 descent and distribution; and
53	53	7 (2) property that would have otherwise passed under the laws
54	54	8 of descent and distribution, but for the fact that the property
55	55	9 was transferred through a transfer on death transfer under
56	56	10 IC 32-17-14, or through any other day of death property
57	57	11 transfer.
58	58	12 (b) (c) When the value of the property given the surviving spouse
59	59	13 under the will is less than the amount the surviving spouse would
60	60	14 receive by electing to take against the will, the surviving spouse may
61	61	15 elect to retain any or all specific bequests or devises given to the
62	62	16 surviving spouse in the will at their fair market value as of the time of
63	63	17 the decedent's death and receive the balance due in cash or property.
64	64	18 (c) (d) Except as provided in subsection (b) subsection (c), in
65	65	19 electing to take against the will, the surviving spouse is deemed to
66	66	20 renounce all rights and interest of every kind and character in the
67	67	21 personal and real property of the deceased spouse, and to accept the
68	68	22 elected award in lieu thereof.
69	69	23 (d) (e) When a surviving spouse elects to take against the will, the
70	70	24 surviving spouse shall be deemed to take by descent, as a modified
71	71	25 share, the part of the net estate as does not come to the surviving
72	72	26 spouse by the terms of the will. Where by virtue of an election pursuant
73	73	27 to this chapter it is determined that the surviving spouse has renounced
74	74	28 the surviving spouse's rights in any devise, either in trust or otherwise,
75	75	29 the will shall be construed with respect to the property so devised to the
76	76	30 surviving spouse as if the surviving spouse had predeceased the
77	77	31 testator.
78	78	32 SECTION 2. IC 32-17-14-2.2 IS ADDED TO THE INDIANA
79	79	33 CODE AS A NEW SECTION TO READ AS FOLLOWS
80	80	34 [EFFECTIVE JULY 1, 2025]: Sec. 2.2. (a) A transfer on death
81	81	35 transfer under this chapter:
82	82	36 (1) is subject to the spousal elective share provisions of
83	83	37 IC 29-1-3-1; and
84	84	38 (2) must be allocated to the estate of the decedent solely for
85	85	39 the purpose of computing and awarding the spousal elective
86	86	40 share of a spouse who takes against the will under
87	87	41 IC 29-1-3-1.
88	88	42 (b) A transfer on death transfer under this chapter is a day of
89	89	2025 IN 530—LS 7720/DI 106 3
90	90	1 death transfer and not an inter vivos transfer.
91	91	2025 IN 530—LS 7720/DI 106