633A.2304 Amount reachable by creditors or transferees of settlor. 1. If a settlor is a beneficiary of a trust created by the settlor, a transferee or creditor of the settlor may reach the maximum amount that the trustee could pay to or for the settlor’sbenefit. 2. In the case of a trust with multiple settlors, the amount the creditors or transferees of a particular settlor may reach shall not exceed the portion of the trust attributable to thatsettlor’s contribution. 3. The assets of an irrevocable trust shall not become subject to the claims of creditors of the settlor of a trust solely due to a provision in the trust that allows a trustee of the trust toreimburse the settlor for income taxes payable on the income of the trust. This subsectionshall not limit the rights of the creditor of the settlor to assert a claim against the assets of thetrust due to the retention or grant of any rights to the settlor under the trust instrument or anyother beneficial interest of the settlor other than as specifically set forth in this subsection. 2008 Acts, ch 1119, §24 Sat Dec 23 12:13:12 2023 Iowa Code 2024, Section 633A.2304 (18, 0)
Iowa Legal Code