633A.4201 Duty to administer trust — alteration by terms of trust.
1. On acceptance of a trust, the trustee shall administer the trust according to the terms of the trust and according to this trust code, except to the extent the terms of the trust provide otherwise.
2. The terms of the trust may expand, restrict, eliminate, or otherwise alter the duties prescribed by this trust code, and the trustee may reasonably rely on those terms, but nothing in this trust code authorizes a trustee to act in bad faith or in disregard of the purposes of the trust or the interest of the beneficiaries.
99 Acts, ch 125, §47, 109
C2001, §633.4201
2005 Acts, ch 38, §54
CS2005, §633A.4201
Structure Iowa Code
Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES
Chapter 633A - IOWA TRUST CODE
Section 633A.1101 - Short title.
Section 633A.1102 - Definitions.
Section 633A.1103 - Per stirpes rule of descent.
Section 633A.1104 - Common law of trusts.
Section 633A.1105 - Trust terms control.
Section 633A.1106 - General rule concerning application of the Iowa trust code.
Section 633A.1107 - Scope of trust code.
Section 633A.1108 - Governing law.
Section 633A.1109 - Methods of notice and document delivery — waiver.
Section 633A.2101 - Methods of creating trusts.
Section 633A.2102 - Requirements for validity.
Section 633A.2103 - Statute of frauds.
Section 633A.2104 - Trust purposes.
Section 633A.2105 - Honorary trusts — trusts for pets.
Section 633A.2106 - Resulting trusts.
Section 633A.2107 - Constructive trusts.
Section 633A.2201 - Termination of trust.
Section 633A.2202 - Modification or termination by settlor and all beneficiaries.
Section 633A.2204 - Modification of administrative provisions by court for change of circumstances.
Section 633A.2205 - Noncharitable trust with uneconomically low value.
Section 633A.2206 - Reformation — tax objectives.
Section 633A.2207 - Combination of trusts.
Section 633A.2208 - Division of trusts.
Section 633A.2301 - Rights of beneficiary, creditor, and assignee.
Section 633A.2302 - Spendthrift protection recognized.
Section 633A.2303 - Spendthrift trusts for the benefit of settlor.
Section 633A.2304 - Amount reachable by creditors or transferees of settlor.
Section 633A.2305 - Discretionary trusts — effect of standard.
Section 633A.2306 - Court action — trustee’s discretion.
Section 633A.2307 - Overdue mandatory distribution.
Section 633A.3101 - Competency to create, revoke, or modify a revocable trust.
Section 633A.3102 - Revocation or modification.
Section 633A.3103 - Other rights of settlor.
Section 633A.3104 - Claims against revocable trust.
Section 633A.3105 - Rights of and claims against holder of general power of appointment.
Section 633A.3106 - Children born or adopted after execution of a revocable trust.
Section 633A.3107 - Effect of divorce or dissolution.
Section 633A.3108 - Limitation on contest of revocable trust.
Section 633A.3110 - Notice to creditors, heirs, and surviving spouse.
Section 633A.3111 - Rights of trustee regarding claims in a probate administration.
Section 633A.3112 - Trustee’s liability for distributions.
Section 633A.3113 - Definitions — revocable trusts.
Section 633A.3114 - Allowance to surviving spouse.
Section 633A.3115 - Allowance to children who do not reside with surviving spouse.
Section 633A.4101 - Acceptance or declination to serve as trustee.
Section 633A.4102 - Trustee’s bond.
Section 633A.4103 - Actions by cotrustees.
Section 633A.4104 - Vacancy in office of trustee.
Section 633A.4105 - Filling vacancy.
Section 633A.4106 - Resignation of trustee.
Section 633A.4107 - Removal of trustee.
Section 633A.4108 - Delivery of property by former trustee.
Section 633A.4109 - Compensation of trustee.
Section 633A.4110 - Repayment for expenditures.
Section 633A.4111 - Notice of increased trustee’s fee.
Section 633A.4201 - Duty to administer trust — alteration by terms of trust.
Section 633A.4202 - Duty of loyalty — impartiality — confidential relationship.
Section 633A.4203 - Standard of prudence.
Section 633A.4204 - Costs of administration.
Section 633A.4205 - Special skills.
Section 633A.4206 - Delegation.
Section 633A.4207 - Directory powers.
Section 633A.4208 - Cotrustees.
Section 633A.4209 - Control and safeguarding of trust property.
Section 633A.4210 - Separation and identification of trust property.
Section 633A.4211 - Enforcement and defense of claims and actions.
Section 633A.4212 - Prior fiduciaries.
Section 633A.4213 - Duty to inform and account.
Section 633A.4214 - Duties with regard to discretionary powers.
Section 633A.4215 - Distributions in further trust.
Section 633A.4301 - Short title.
Section 633A.4302 - Standard of care — portfolio strategy — risk and return objectives.
Section 633A.4303 - Diversification.
Section 633A.4304 - Duties at inception of trusteeship.
Section 633A.4306 - Impartiality.
Section 633A.4307 - Investment costs.
Section 633A.4308 - Reviewing compliance.
Section 633A.4309 - Language invoking prudent investor rule.
Section 633A.4401 - General powers — fiduciary duties.
Section 633A.4402 - Specific powers of trustees.
Section 633A.4501 - Violations of duties — breach of trust.
Section 633A.4502 - Breach of trust — actions.
Section 633A.4503 - Breach of trust — liability.
Section 633A.4504 - Limitation of action against trustee.
Section 633A.4505 - Exculpation of trustee.
Section 633A.4506 - Beneficiary’s consent, release, or affirmance — nonliability of trustee.
Section 633A.4507 - Attorney fees and costs.
Section 633A.4601 - Personal liability — limitations.
Section 633A.4602 - Dissenting cotrustees.
Section 633A.4603 - Obligations of third parties.
Section 633A.4604 - Certification of trust.
Section 633A.4605 - Liability for wrongful taking, concealing, or disposing of trust property.
Section 633A.4606 - Interest as general partner.
Section 633A.4702 - Discretionary language prevails over other standard.
Section 633A.4703 - General order for abatement.
Section 633A.4704 - Simultaneous death.
Section 633A.4705 - Principal and income.
Section 633A.4706 - Small distributions to minors — payment.
Section 633A.4707 - Person causing death.
Section 633A.4802 - Liability limits of excluded fiduciary.
Section 633A.4803 - Death of settlor.
Section 633A.4804 - Excluded fiduciary’s liability for loss if trust protector appointed.
Section 633A.4805 - Powers of trust protector.
Section 633A.4806 - Submission to court jurisdiction — effect on trust director or trust protector.
Section 633A.4807 - Powers of trust protector incorporated by reference in will or trust instrument.
Section 633A.4809 - Powers of investment trust director.
Section 633A.4810 - Powers of distribution trust director.
Section 633A.5101 - Charitable purposes.
Section 633A.5102 - Application of cy pres.
Section 633A.5103 - Trust with uneconomically low value.
Section 633A.5104 - Interested persons — proceedings.
Section 633A.5105 - Charitable trusts.
Section 633A.5106 - Settlor — enforcement of charitable trust — designation.
Section 633A.5107 - Filing requirements.
Section 633A.5108 - Role of the attorney general.
Section 633A.6101 - Subject matter jurisdiction.
Section 633A.6102 - Principal place of administration of trust.
Section 633A.6103 - Jurisdiction over trustees and beneficiaries.
Section 633A.6104 - County of venue.
Section 633A.6105 - Transfer of jurisdiction.
Section 633A.6201 - Judicial intervention intermittent.
Section 633A.6202 - Petitions — purposes of proceedings.
Section 633A.6301 - Definition and applicability.
Section 633A.6302 - Representation by holders of powers.
Section 633A.6303 - Representation by fiduciaries and parents.
Section 633A.6304 - Representation by holders of similar interests.
Section 633A.6305 - Notice of judicial settlement.
Section 633A.6306 - Appointment of guardian ad litem.