Iowa Code § 633A.2202
Modification or termination by settlor and all beneficiaries
Redline — January 1, 2012 → current.View current text →
Current — January 1, 2013
As of January 1, 2012
1. An irrevocable trust may be modified or terminated upon the consent of the settlor and all of the beneficiaries.
1. An irrevocable trust may be modified or terminated upon the consent of the settlor and all of the beneficiaries.
2. Upon termination of the trust, the trustee shall distribute the trust property as agreed by the settlor and all beneficiaries, or in the absence of unanimous agreement, as ordered by the court.
2. Upon termination of the trust, the trustee shall distribute the trust property as agreed by the settlor and all beneficiaries, or in the absence of unanimous agreement, as ordered by the court.
3. For purposes of this section, the consent of a person who may bind a beneficiary or otherwise act on a beneficiary’s behalf is considered the consent of the beneficiary.
3. For purposes of this section, the consent of a person who may bind a beneficiary or otherwise act on a beneficiary’s behalf is considered the consent of the beneficiary.
99 Acts, ch 125, §16, 109
99 Acts, ch 125, §16, 109
C2001, §633.2202
C2001, §633.2202
CS2005, §633A.2202
CS2005, §633A.2202
Referred to in
Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.