§ 633A.4206 — Delegation

Iowa § 633A.4206

• Jurisdiction: Iowa
• Title XV: JUDICIAL BRANCH AND JUDICIAL PROCEDURES
• Ch. 633A: IOWA TRUST CODE

Text

1. A trustee shall not delegate to an agent or cotrustee the entire administration of the
trust or the responsibility to make or participate in the making of decisions with respect
to discretionary distributions, but a trustee may otherwise delegate the performance
of functions that a prudent trustee of comparable skills might delegate under similar
circumstances.
2. The trustee shall exercise reasonable care, skill, and caution in the following activities:
a. Selecting an agent.
b. Establishing the scope and terms of a delegation, consistent with the purposes and
terms of the trust.
c. Periodically reviewing an agent’s overall performance and compliance with the terms
of the delegation.
d. Redressing an action or decision of an agent which would constitute a breach of trust
if performed by the trustee.
3. A trustee who complies with the requirements of subsections 1 and 2 is not liable to the
beneficiaries or to the trust for the decisions or actions of the agent to whom a function was
delegated.
4. In performing a delegated function, an agent shall exercise reasonable care to comply
with the terms of the delegation.
5. By accepting the delegation of a trust function from the trustee of a trust that is subject
to the law of this state, an agent submits to the jurisdiction of the courts of this state.