2009 Iowa Code
Title 15 - Judicial Branch and Judicial Procedures
Subtitle 4 - Probate - Fiduciaries
CHAPTER 633 - PROBATE CODE
633.123 - PRUDENT INVESTMENTS -- FIDUCIARIES.

        633.123  PRUDENT INVESTMENTS -- FIDUCIARIES.
         1.  When investing, reinvesting, purchasing, acquiring,
      exchanging, selling, or managing property for the benefit of another,
      a fiduciary shall consider all of the following circumstances along
      with the circumstances identified in section 633A.4302, if
      applicable:
         a.  The length of time the fiduciary will have control over
      the estate assets and the anticipated costs of complying with the
      provisions of this section.
         b.  The unique nature of all of the following:
         (1)  The duties of a personal representative or conservator.
         (2)  The assets, income, expenses, and distribution requirements
      of the estate.
         (3)  The needs and rights of the beneficiaries or the ward.
         c.  The express provisions of a will, codicil, or other
      controlling instrument.
         2.  The standards identified in this section shall be applied
      differently than similar standards for investment and management of
      trust property.  Special consideration shall be given to the expected
      term of estates.  Because some estates will have limited duration,
      there may be situations where an investment or a change in an
      investment is not warranted.  

         Section History: Recent Form

         2007 Acts, ch 134, §7, 28
         Referred to in § 633.649 

         Footnotes

         Section applies to all estates, conservatorships, and trusts under
      court supervision and in existence on or after July 1, 2007; 2007
      Acts, ch 134, §28