633A.2305 Discretionary trusts — effect of standard.
1. Whether or not a trust contains a spendthrift provision, a creditor or assignee of a beneficiary shall not compel a distribution that is subject to the trustee’s discretion, even if any of the following occur:
a. The discretion is expressed in the form of a standard of distribution.
b. The trustee has abused its discretion.
2. This section shall not apply to a creditor of a beneficiary or to a creditor of a deceased beneficiary enforcing an interest in a trust, if any, given to a beneficiary by the trust instrument.
2008 Acts, ch 1119, §25
Referred to in §633A.2301
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