Sec. 19. (a) Except as provided in section 18 of this chapter, a trust may be created for a: (1) noncharitable purpose without a beneficiary; or (2) noncharitable and valid purpose to be selected by the trustee. (b) A trust authorized by this section may be enforced for not more than twenty-one (21) years. (c) A trust authorized by this section may be enforced by the following: (1) A person appointed in the terms of the trust. (2) A person appointed by the court, if the terms of the trust do not appoint a person. (d) Property of a trust authorized by this section may be applied only to the trust's intended use, except to the extent the court determines that the value of the trust property exceeds the amount required for the trust's intended use. (e) Except as provided in the terms of the trust, property not required for the trust's intended use must be distributed to the following: (1) The settlor, if the settlor is living. (2) The settlor's successors in interest, if the settlor is deceased. IC 30-4-2.1 Chapter 2.1. Rules for Interpretation of Trusts 30-4-2.1-1 Construction 30-4-2.1-2 Adopted children 30-4-2.1-3 No contest provision enforceable; exceptions 30-4-2.1-4 Children born after trust's creation 30-4-2.1-5 Mistaken belief that settlor's child deceased 30-4-2.1-6 Void, revoked, or lapsed devise 30-4-2.1-7 Beneficiary predeceases settlor 30-4-2.1-8 Kindred of the half blood 30-4-2.1-9 Applicability of adultery and abandonment forfeiture provisions 30-4-2.1-11 Written statement or list disposing of tangible personal property 30-4-2.1-11.1 Trust referencing writing; effect to be given to writing 30-4-2.1-12 Order of abatement; other rules governing abatement 30-4-2.1-13 Repealed 30-4-2.1-14 Rules of interpretation concerning discretionary interests 30-4-2.1-14.5 "Discretionary interest"; rules of construction 30-4-2.1-15 Rules of interpretation concerning a beneficiary's influence over a trust 30-4-2.1-16 Rules of interpretation concerning a trustee's independence from the settlor 30-4-2.1-17 Limits on creditors of beneficiaries who may replace or remove a trustee or who are also trustees or co-trustees
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