Iowa Code 633.678 – Delivery of assets
Current as of: 2023 | Check for updates
|
Other versions
1. Upon the termination of a conservatorship, all assets of the conservatorship shall be delivered as ordered by the court to any of the following:
a. To the person or persons entitled to them.
b. To a custodian under a uniform transfers to minor account established for the protected person pursuant to chapter 565B or the laws of any other state.
c. To a custodial trustee under a uniform custodial trust account established for the protected person pursuant to chapter 633F or the laws of any other state.
d. To an account owner or participant under a college savings plan account established for the protected person pursuant to Internal Revenue Code section 529 or chapter 12D or the laws of any other state.
e. To the account owner under an ABLE account established for the protected person with disabilities pursuant to Internal Revenue Code section 529A or chapter 12I or the laws of any other state.
Terms Used In Iowa Code 633.678
- Adult: means an individual who is eighteen years of age or older. See Iowa Code 633.701
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Court: means , when referring to a court of this state, the district court sitting in probate with jurisdiction of conservatorships and guardianships. See Iowa Code 633.701
- following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
- Minor: means a person who is not of full age. See Iowa Code 633.3
- Person: means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, public corporation, or government; governmental subdivision, agency, or instrumentality; or any other legal or commercial entity. See Iowa Code 633.701
- Protected person: means an adult for whom a conservatorship has been issued. See Iowa Code 633.701
- State: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, a federally recognized Indian tribe, or any territory or insular possession subject to the jurisdiction of the United States. See Iowa Code 633.701
- Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
2. Delivery of the assets of an adult protected person under subsection 1, paragraphs “b” through “e”, shall have the same force and effect as if delivery had been made directly to the person or persons entitled to them. Delivery of the assets of a minor protected person under subsection 1, paragraphs “b” through “e”, shall have the same force and effect as if delivery had been made to the protected person after attaining majority.