633A.2202 - MODIFICATION OR TERMINATION BY SETTLOR AND ALL BENEFICIARIES.
633A.2202 MODIFICATION OR TERMINATION BY SETTLOR AND ALL BENEFICIARIES. 1. An irrevocable trust may be modified or terminated upon the consent of the settlor and all of the beneficiaries. 2. Upon termination of the trust, the trustee shall distribute the trust property as agreed by the settlor and all beneficiaries, or in the absence of unanimous agreement, as ordered by the court. 3. For purposes of this section, the consent of a person who may bind a beneficiary or otherwise act on a beneficiary's behalf is considered the consent of the beneficiary.
Section History: Recent Form 99 Acts, ch 125, §16, 109 C2001, §633.2202 2005 Acts, ch 38, §54 CS2005, §633A.2202 Referred to in § 633A.2201, 633A.6301