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.