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Code · Iowa · Chapter 633A — Iowa Trust Code

633A.5103 Trust with uneconomically low value.

80 words·~1 min read·/ia/chapter-633a-iowa-trust-code/633a-5103

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

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.
99 Acts, ch 125, §87, 109
C2001, §633.5103
CS2005, §633A.5103
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