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Iowa Code Title XV. Judicial Branch and Judicial Procedures [Chs. 595-686] § 633A.5103. Trust with uneconomically low value

Current as of January 01, 2024 | Updated by Findlaw Staff

1. On petition by a trustee or other interested person, if the court determines that the value of the trust property is insufficient to justify the cost of administration involved, the court may appoint a new trustee or may modify or terminate the charitable trust.

2. Upon termination of a trust under this section, the court shall distribute the trust property in a manner consistent with the settlor's charitable purposes.

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Cite this article: FindLaw.com - Iowa Code Title XV. Judicial Branch and Judicial Procedures [Chs. 595-686] § 633A.5103. Trust with uneconomically low value - last updated January 01, 2024 | https://codes.findlaw.com/ia/title-xv-judicial-branch-and-judicial-procedures-chs-595-686/ia-code-sect-633a-5103/

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