2009 Iowa Code
Title 15 - Judicial Branch and Judicial Procedures
Subtitle 4 - Probate - Fiduciaries
CHAPTER 633A - IOWA TRUST CODE
633A.4701 - SURVIVORSHIP WITH RESPECT TO FUTURE INTERESTS UNDER TERMS OF TRUST -- SUBSTITUTE TAKERS.

        633A.4701  SURVIVORSHIP WITH RESPECT TO FUTURE
      INTERESTS UNDER TERMS OF TRUST -- SUBSTITUTE TAKERS.
         1.  Unless otherwise specifically stated by the terms of the
      trust, the interest of each beneficiary is contingent on the
      beneficiary surviving until the date on which the beneficiary becomes
      entitled to possession or enjoyment of the beneficiary's interest in
      the trust.
         2.  If a beneficiary dies prior to becoming entitled to possession
      or enjoyment of the beneficiary's interest and the terms of the trust
      provide for an alternate beneficiary who is living on the date the
      interest becomes possessory, the alternate beneficiary succeeds to
      the interest in accordance with the terms of the trust.
         3.  If a beneficiary dies prior to becoming entitled to possession
      or enjoyment of the beneficiary's interest and no alternate
      beneficiary is named in the trust, and the beneficiary has issue who
      are living on the date the interest becomes possessory, the issue of
      the beneficiary who are living on such date shall receive the
      interest of the beneficiary.
         4.  If both a beneficiary of an interest and any alternate
      beneficiary of that interest named in the trust die prior to the
      interest becoming possessory, and the beneficiary has no issue who
      are living on the date the interest becomes possessory, the issue of
      the alternate beneficiary who are living on such date shall take the
      interest of the beneficiary.
         5.  If both the beneficiary of an interest and any alternate
      beneficiary of that interest named in the trust die prior to the
      interest becoming possessory, and neither the beneficiary nor the
      alternate beneficiary has issue who are living on the date the
      interest becomes possessory, the beneficiary's interest shall be
      distributed to the takers of the settlor's residuary estate, or, if
      the trust is the sole taker of the settlor's residuary estate, in
      accordance with section 633A.2106.
         6.  If both the beneficiary of an interest and any alternate
      beneficiary of that interest named in the trust die prior to the
      interest becoming possessory, and both the beneficiary and the
      alternate beneficiary have issue who are living on the date the
      interest becomes possessory, the issue of the beneficiary succeed to
      the interest of the beneficiary.  The issue of the alternate
      beneficiary shall not succeed to any part of the interest of the
      beneficiary.
         7.  For the purposes of this section, persons appointed under a
      power of appointment shall be considered beneficiaries under this
      section and takers in default of appointment designated by the
      instrument creating the power of appointment shall be considered
      alternate beneficiaries under this section.
         8.  Subsections 2, 3, 4, 5, 6, and 7 do not apply to any interest
      subject to an express condition of survivorship imposed by the terms
      of the trust.  For the purposes of this section, words of
      survivorship including, but not limited to, "my surviving children",
      "if a person survives" a named period, and terms of like import,
      shall be construed to create an express condition of survivorship.
      Words of survivorship include language requiring survival to the
      distribution date or to any earlier or unspecified time, whether
      those words are expressed in condition precedent, condition
      subsequent, or any other form.
         9.  For the purposes of this section, a term of the trust
      requiring that a beneficiary survive a person whose death does not
      make the beneficiary entitled to possession or enjoyment of the
      beneficiary's interest in the trust shall not be considered as
      "otherwise specifically stated by the terms of the trust" nor as an
      "express condition of survivorship imposed by the terms of the
      trust".
         10.  If an interest to which this section applies is given to a
      class, other than a class described as "issue", "descendants", "heirs
      of the body", "heirs", "next of kin", "relatives", "family", or a
      class described by language of similar import, the members of the
      class who are living on the date on which the class becomes entitled
      to possession or enjoyment of the interest shall be considered as
      alternate beneficiaries under this section.  However, neither the
      residuary beneficiaries under the settlor's will nor the settlor's
      heirs shall be considered as alternate beneficiaries for the purposes
      of this section.  

         99 Acts, ch 125, §84, 109
         C2001, §633.4701
         2003 Acts, ch 95, §18, 19; 2005 Acts, ch 38, §42, 43, 54, 55
         CS2005, §633A.4701