HF 2344: Relating to trusts, including irrevocable trusts, trust petitions, and trust proceedings

What it does

This bill relates to trusts, including irrevocable trust provisions, petitions, and proceedings. The bill provides that a spendthrift provision may help implement a material purpose of a trust. The bill provides that spendthrift provisions, or provisions giving the trustee discretion to distribute income or principal to a beneficiary or among beneficiaries, shall be enforceable against beneficiaries and third parties that (1) try to force the trustee to do something against the provisions of the trust or (2) try to gain access to the trust assets.

House subcommittee · named February 6, 2024

• Rep. Bill Gustoff (R) · bill.gustoff@legis.iowa.gov
• Rep. Brian K. Lohse (R) · brian.lohse@legis.iowa.gov
• Rep. Sami Scheetz (D)

Lobbying · 4 for, 0 against

For: AARP Iowa; Iowa State Bar Association; Iowa Trust Association; The Iowa Academy of Trust and Estate Counsel

In plain words

1. February 6, 2024Filed in the House and sent to the Judiciary committee
2. February 6, 2024House subcommittee named: Gustoff, Lohse and Scheetz
3. February 8, 2024Subcommittee recommended passing it
4. February 13, 2024Approved by the House committee
5. February 14, 2024Approved by the House committee, and given a new number: HF 2517
6. March 7, 2024Withdrawn