Iowa Code § 633A.4207
Directory powers
Redline — January 1, 2012 → current.View current text →
Current — January 1, 2022
As of January 1, 2012
1. While a trust is revocable, the trustee may follow a written direction of the settlor that is contrary to the terms of the trust.
1. While a trust is revocable, the trustee may follow a written direction of the settlor that is contrary to the terms of the trust.
2. If the terms of the trust confer upon a person other than the settlor of a revocable trust power to direct certain actions of the trustee, the trustee shall act in accordance with an exercise of the power unless the trustee knows the attempted exercise violates the terms of the trust or the trustee knows that the person holding the power is not competent.
3. A person other than a beneficiary who holds a power to direct is presumptively a fiduciary who is required to act in good faith with regard to the purposes of the trust and the interests of the beneficiaries. The holder of a power to direct is liable for any loss that results from a breach of a fiduciary duty.
2. In addition to any powers granted to a trustee, the terms of the trust may confer powers upon trust directors and trust protectors as set forth in sections 633A.4801 through 633A.4810. A person’s status as a trust director or trust protector under Iowa law shall be determined on the basis of the powers granted and not on the title given to such person in the trust instrument.
99 Acts, ch 125, §53, 109
99 Acts, ch 125, §53, 109
C2001, §633.4207
C2001, §633.4207
CS2005, §633A.4207
CS2005, §633A.4207
Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.