2009 Iowa Code
Title 15 - Judicial Branch and Judicial Procedures
Subtitle 4 - Probate - Fiduciaries
CHAPTER 633A - IOWA TRUST CODE
633A.2205 - NONCHARITABLE TRUST WITH UNECONOMICALLY LOW VALUE.

        633A.2205  NONCHARITABLE TRUST WITH UNECONOMICALLY LOW
      VALUE.
         1.  On petition by a trustee or beneficiary, the court may
      terminate or modify a noncharitable trust or appoint a new trustee if
      the court determines that the value of the trust property is
      insufficient to justify the cost of administration involved and that
      continuation of the trust under its existing terms would defeat or
      significantly impair the accomplishment of the trust purposes.
         2.  Upon termination of a trust under this section, the trustee
      shall distribute the trust property in accordance with the probable
      intention of the settlor under the circumstances.  Extrinsic evidence
      is admissible for the purpose of ascertaining the probable intention
      of the settlor.  

         99 Acts, ch 125, §18, 109
         C2001, §633.2205
         2002 Acts, ch 1107, §4; 2005 Acts, ch 38, §54
         CS2005, §633A.2205
         Referred to in § 633A.2201