Iowa § 633A.4703 General order for abatement

Iowa Statutes

§ 633A.4703 — General order for abatement

Iowa § 633A.4703

Title XVJUDICIAL BRANCH AND JUDICIAL PROCEDURES

Ch. 633AIOWA TRUST CODE

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Bluebook

Iowa Code § 633A.4703 (2026).

Text

Except as otherwise provided by the governing instrument, where necessary to abate shares of the beneficiaries of a trust for the payment of debts and charges, federal estate taxes, bequests, the share of the surviving spouse who takes an elective share, and the shares of children born or adopted after the execution of the trust, abatement shall occur in the following order:

1.Shares allocated to the residuary beneficiaries of the trust shall be abated first, on a pro rata basis.

2.Shares defined by a dollar amount, on a pro rata basis.

3.Shares described as specific items of property whether tangible or intangible shall be abated last, and such abatement shall be done as equitably by the trustee among the various beneficiaries as circumstances reasonably allow.

4.Notwithstanding subse

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Except as otherwise provided by the governing instrument, where necessary to abate
shares of the beneficiaries of a trust for the payment of debts and charges, federal estate
taxes, bequests, the share of the surviving spouse who takes an elective share, and the
shares of children born or adopted after the execution of the trust, abatement shall occur in
the following order:
1. Shares allocated to the residuary beneficiaries of the trust shall be abated first, on a pro
rata basis.
2. Shares defined by a dollar amount, on a pro rata basis.
3. Shares described as specific items of property whether tangible or intangible shall be
abated last, and such abatement shall be done as equitably by the trustee among the various
beneficiaries as circumstances reasonably allow.
4. Notwithstanding subsections 1, 2, or 3, a disposition in favor of the settlor’s surviving
spouse who does not take an elective share shall be abated last.