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Iowa Code Title XV. Judicial Branch and Judicial Procedures [Chs. 595-686] § 637.604. Interested trustee's authority to convert

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

If there is no trustee of the trust other than an interested trustee, the interested trustee or, where two or more persons are acting as trustee and are interested trustees, a majority of such interested trustees may, in the trustee's sole discretion and without the approval of the court, do any of the following subject to the requirements of section 637.605:

1. Convert an income trust to a total return unitrust.

2. Reconvert a total return unitrust to an income trust.

3. Change the method used to determine the fair market value of the trust.

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Cite this article: FindLaw.com - Iowa Code Title XV. Judicial Branch and Judicial Procedures [Chs. 595-686] § 637.604. Interested trustee's authority to convert - last updated January 01, 2024 | https://codes.findlaw.com/ia/title-xv-judicial-branch-and-judicial-procedures-chs-595-686/ia-code-sect-637-604/

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