Iowa Code 633A.2101 – Methods of creating trusts
Current as of: 2023 | Check for updates
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A trust may be created by any of the following methods:
1. Transfer of property to another person as trustee during the settlor’s lifetime, or by will taking effect upon the settlor’s death.
Terms Used In Iowa Code 633A.2101
- 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
- person: means individual, corporation, limited liability company, government or governmental subdivision or agency, business trust, estate, trust, partnership or association, or any other legal entity. See Iowa Code 4.1
- property: includes personal and real property. See Iowa Code 4.1
- Trustee: A person or institution holding and administering property in trust.
2. Declaration by the owner of property that the owner holds property as trustee.
3. Exercise of a power of appointment in favor of another person as trustee.
4. A promise enforceable by the trustee to transfer property to the trustee.