Iowa Code § 633A.2305
Discretionary trusts — effect of standard
Redline — January 1, 2012 → current.View current text →
Current — January 1, 2013
As of January 1, 2012
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:
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.
a. The discretion is expressed in the form of a standard of distribution.
b. The trustee has abused its discretion.
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.
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.
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.