633A.3101 - COMPETENCY TO CREATE, REVOKE, OR MODIFY A REVOCABLE TRUST.
633A.3101 COMPETENCY TO CREATE, REVOKE, OR MODIFY A REVOCABLE TRUST. 1. To create, revoke, or modify a revocable trust, the settlor must be competent. An aggrieved person shall have all causes of action and remedies available to the aggrieved person in attacking the creation, revocation, or modification of a revocable trust as one would if attacking the propriety of the execution of a will. 2. The level of competency required of a settlor to direct the actions of the trustee, or to contribute property to, or to withdraw property from, a trust is the same as that required to create a revocable trust.
Section History: Recent Form 99 Acts, ch 125, §25, 109; 2000 Acts, ch 1150, §14 C2001, §633.3101 2005 Acts, ch 38, §54 CS2005, §633A.3101