Bills › 90th General Assembly
Relating to trusts, including irrevocable trusts, trust petitions, and trust proceedings
Sponsored by the House Judiciary Committee
Topics:Courts & civil law
Same legislation: HF 2344
Where it is now
- Done: IntroducedFebruary 6, 2024
- Done: SubcommitteeFebruary 6, 2024
- Done: House committeeFebruary 13, 2024
- Done: Passes the HouseMarch 7, 202493–0
- Done: Senate committeeMarch 13, 2024
- Done: Passes the SenateApril 9, 202446–0
- Done: To the GovernorApril 19, 2024
- Done: Signed into lawApril 19, 2024
Signed into law What’s a funnel?
What’s in it
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.
Read the full explanation
A spendthrift provision, or a provision giving the trustee discretion to distribute income or principal to a beneficiary or among beneficiaries, shall not create a presumption that the settlor would not want the trust modified or terminated if doing so would be in the best interests of the beneficiaries and all the beneficiaries consent to the modification or termination of the trust. The bill allows an interested party, in addition to a trustee or beneficiary of a trust, to petition the court about the internal affairs of the trust or to determine the trust. The bill also expands the scope of the proceedings to include the following: (1) to settle accounts and pass upon the acts of the trust director or trust protector, (2) to instruct the trust director or trust protector, (3) to grant or modify powers of the trust director or trust protector, (4) fix the compensation of the trust director or trust protector, (5) to appoint or remove the trust director or trust protector, and (6) to accept the resignation of the trust director or trust protector.
From the explanation printed with the bill as introduced, written by the Legislative Services Agency. Amendments adopted later aren’t reflected. Full bill text · What changed before it passed
Senate subcommittee
Named March 11, 2024. On March 13, 2024 it recommended passage. [].
Three legislators hear a bill first and recommend what the committee should do; it’s the best time to weigh in. How to take part
Iowa Code it changes
Amends§633A.2203§633A.6202
Read from the bill as introduced. Each links to every bill touching that chapter of the Iowa Code. How the Code works
Lobbying
4 for · 0 against · 4 undecided · Who →
Family tree
Where this legislation came from and where it went: earlier tries, the versions it moved through this Assembly, and later bills built on it.
90th General Assembly
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