Iowa Code 633A.3107 – Effect of divorce or dissolution
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1. If, after executing a revocable trust, the settlor is divorced or the settlor’s marriage is dissolved, all provisions in the trust in favor of the settlor’s spouse or of a relative of the settlor’s spouse, including but not limited to dispositions, appointments of property, and nominations to serve in any fiduciary or representative capacity, are revoked by divorce or dissolution of marriage unless the trust instrument provides otherwise.
Terms Used In Iowa Code 633A.3107
- Fiduciary: A trustee, executor, or administrator.
- 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
- Relative: means an ascendant, descendant, or collateral or an individual otherwise related to another individual by blood, marriage, adoption, or other law of this state. See Iowa Code 651.1
- Revocable trust: A trust agreement that can be canceled, rescinded, revoked, or repealed by the grantor (person who establishes the trust).
2. Unless the trust instrument provides otherwise, in the event the settlor and spouse remarry each other, the provisions of the revocable trust revoked by the divorce or dissolution of marriage shall be reinstated unless otherwise modified by the settlor, except for provisions in favor of a person who died prior to the remarriage which shall not be reinstated.
3. For the purposes of this section, “relative of the settlor’s spouse” means a person who is related to the divorced settlor’s former spouse by blood, adoption, or affinity, and who, subsequent to the divorce or dissolution of marriage, ceased to be related to the settlor by blood, adoption, or affinity.