(a) In a proceeding involving estates of decedents or trusts, or in judicially supervised settlements, persons are bound by orders binding others in the following cases:

1. (1) Orders binding the sole holder or all co-holders of a power of revocation or a presently exercisable general power of appointment, including one in the form of a power of amendment, bind other persons to the extent their interests (as objects, takers in default, or otherwise) are subject to the power.

2. (2) Orders binding a trustee bind beneficiaries of the trust in proceedings:

   1. (A) to probate a will establishing or adding to a trust;
   2. (B) to review the acts or accounts of a prior fiduciary; and
   3. (C) involving creditors or other third parties.
3. (3) Orders binding a personal representative bind persons interested in the undistributed assets of a decedent’s estate in actions or proceedings by or against the estate. If there is no conflict of interest and no guardian of the estate or person has been appointed, a parent may represent the parent's minor child.

4. (4) An interested person:

   1. (A) who is incapacitated;
   2. (B) whose present name, existence, or residence upon diligent inquiry is unknown and cannot be ascertained; or

   3. (C) who is not otherwise represented;

      is bound by an order to the extent the person's interest is adequately represented by another party having a substantially identical interest in the proceeding.

(d) Any adjudication involving the interests of persons considered represented under this section shall be lawful and binding upon all interested persons, whether born or unborn, whether notified or not notified, and whether represented or not, if the interested persons are of the same class or have interests similar to the predominant interests of any person notified or represented.

Formerly: Acts 1953, c.112, s.120. As amended by Acts 1982, P.L.171, SEC.9; P.L.33-1989, SEC.33; P.L.118-1997, SEC.9.