Public-domain · open source
OpenJurist

Iowa Code § 633A.2305

Discretionary trusts — effect of standard

Known as the Iowa Trust Code

The act spans §§ 633A.1101 to 633A.6308 (136 sections).

2008 Acts, ch 1119, §25

1. Whether or not a trust contains a spendthrift provision, a creditor or assignee of a beneficiary shall not compel a distribution that is subject to the trustee’s discretion, even if any of the following occur:

a. The discretion is expressed in the form of a standard of distribution.

b. The trustee has abused its discretion.

2. This section shall not apply to a creditor of a beneficiary or to a creditor of a deceased beneficiary enforcing an interest in a trust, if any, given to a beneficiary by the trust instrument.

Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.