Iowa Code (Last Updated: December 05, 2016) |
Title XV. JUDICIAL BRANCH AND JUDICIAL PROCEDURES |
Chapter 633A. IOWA TRUST CODE |
Section 633A.4702. Discretionary language prevails over other standard.
Latest version.
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In the absence of clear and convincing evidence to the contrary, language in a governing instrument granting a trustee discretion to make or withhold a distribution shall prevail over any language in the governing instrument indicating that the beneficiary may have a legally enforceable right to distributions or indicating a standard for payments or distributions.
C2005, §633.4702
CS2005, §633A.4702