2022 Iowa Code
Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES
Chapter 633 - PROBATE CODE
Section 633.681 - Exhausted or minimal assets of minor protected person.

633.681 Exhausted or minimal assets of minor protected person.

1. When the assets of a minor protected person’s conservatorship are exhausted or consist of personal property only of an aggregate value not in excess of fifty thousand dollars, the court, upon application or upon its own motion, may terminate the conservatorship. The order for termination shall direct the conservator to deliver any property remaining after the payment of allowed claims and expenses of administration to a fiduciary acting under one or more of the following accounts:

a. A uniform transfer to minor account established for the minor pursuant to chapter 565B or the laws of any other state.

b. A uniform custodial trust account established for the minor pursuant to chapter 633F or the laws of any other state.

c. A college savings plan account established for the minor pursuant to Internal Revenue Code section 529 or chapter 12D or the laws of any other state.

d. An ABLE account established for the minor with disabilities pursuant to Internal Revenue Code section 529A or chapter 12I or the laws of any other state.

2. Such delivery shall have the same force and effect as if delivery had been made to the protected person after attaining majority.

[C46, 50, 54, 58, 62, §668.33; C66, 71, 73, 75, 77, 79, 81, §633.681; 82 Acts, ch 1052, §3]

98 Acts, ch 1118, §2; 2005 Acts, ch 38, §30; 2021 Acts, ch 8, §27

Section amended