Iowa Code § 637.606
Petition to court to convert trust
Iowa · Iowa Code Chapter 637 — Uniform Principal and Income Act · Status: effective
Cite this
- Citation
- Iowa Code § 637.606, Petition to court to convert trust, Iowa, version 1 as recorded 2026-10-03, yourstate.us, https://yourstate.us/provision/2279486
- Permanent ID
ys:prov:2279486@1- SHA-256
e6b7367b6afbb52e5205d43e878de1dcdbc1d817bcbef7373f911618929b418b
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
1. If any trustee desires to do any of the following but does not have the ability to or elects not to do so under the provisions of section 637.602 or 637.604, the trustee may petition the court for such order as the trustee deems appropriate:
a. Convert an income trust to a total return unitrust.
b. Reconvert a total return unitrust to an income trust.
c. Change the percentage used to calculate the unitrust amount or the method used to determine the fair market value of the trust.
2. If, however, there is only one trustee of such trust and such trustee is an interested trustee or in the event there are two or more trustees of such trust and a majority of them are interested trustees, the court, in its own discretion or upon the petition of such trustee or trustees or any person interested in the trust, may appoint a disinterested person who, acting in a fiduciary capacity, shall present such information to the court as necessary to enable the court to make its determinations.