IC 31-15-7-0.3 : General assembly declarations

Sec. 0.3. The general assembly:

(1) recognizes that reform of certain elements concerning the manner in which property of spouses is transferred upon the death of a spouse, when there is no will, has become necessary;

(2) recognizes inconsistencies in the manner in which the property of spouses is divided at marriage dissolution have become apparent;

(3) sees the need for spouses to be able to enter into a legal agreement during their lifetime, concerning which of their property shall be considered individually owned and which of their property shall be considered jointly owned; and

(4) agrees to enact the Property and Inheritance Rights of Spouses Act (amendments made to IC 29-1-2-1, IC 29-1-2-13, IC 29-1-3-6, and IC 31-1-11.5-11, before its repeal, now codified at IC 31-15-7-2 and IC 31-15-7-5).

As added by P.L.220-2011, SEC.499.