Iowa § 633C.4 Other powers of trustees

Iowa Statutes

§ 633C.4 — Other powers of trustees

Iowa § 633C.4

Title XVJUDICIAL BRANCH AND JUDICIAL PROCEDURES

Ch. 633CMEDICAL ASSISTANCE TRUSTS

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Bluebook

Iowa Code § 633C.4 (2026).

Text

1.Sections 633C.2 and 633C.3 shall not be construed to limit the authority of the trustees to invest, sell, or otherwise manage property held in trust.

2.The trustee of a medical assistance income trust or a medical assistance special needs trust is a fiduciary for purposes of chapter 633A and, in the exercise of the trustee’s fiduciary duties, the state shall be considered a beneficiary of the trust. Regardless of the terms of the trust, the trustee shall not take any action that is not prudent in light of the state’s interest in the trust. Notwithstanding any provision of chapter 633A to the contrary, the trustee of a medical assistance special needs trust shall be subject to the jurisdiction of the district court sitting in probate and shall submit an accounting of the disposition of

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1. Sections 633C.2 and 633C.3 shall not be construed to limit the authority of the trustees
to invest, sell, or otherwise manage property held in trust.
2. The trustee of a medical assistance income trust or a medical assistance special needs
trust is a fiduciary for purposes of chapter 633A and, in the exercise of the trustee’s fiduciary
duties, the state shall be considered a beneficiary of the trust. Regardless of the terms of the
trust, the trustee shall not take any action that is not prudent in light of the state’s interest
in the trust. Notwithstanding any provision of chapter 633A to the contrary, the trustee of a
medical assistance special needs trust shall be subject to the jurisdiction of the district court
sitting in probate and shall submit an accounting of the disposition of the trust to the district
court sitting in probate on an annual basis.