Section 633B.211 - Estates, trusts, and other beneficial interests1. In this section, "estate, trust, or other beneficial interest" means a trust, probate estate, guardianship, conservatorship, escrow, or custodianship, or a fund from which the principal is, may become, or claims to be, entitled to a share or payment.2. Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to estates, trusts, and other beneficial interests authorizes the agent to do all of the following: a. Accept, receive, provide a receipt for, sell, assign, pledge, or exchange a share in or payment from an estate, trust, or other beneficial interest.b. Demand or obtain money or another thing of value to which the principal is, may become, or claims to be, entitled by reason of an estate, trust, or other beneficial interest, by litigation or otherwise.c. Exercise for the benefit of the principal a presently exercisable general power of appointment held by the principal.d. Initiate, participate in, submit to alternative dispute resolution, settle, oppose, or propose or accept a compromise with respect to litigation to ascertain the meaning, validity, or effect of a deed, will, declaration of trust, or other instrument or transaction affecting the interest of the principal.e. Initiate, participate in, submit to alternative dispute resolution, settle, oppose, or propose or accept a compromise with respect to litigation to remove, substitute, or surcharge a fiduciary.f. Conserve, invest, disburse, or use any assets received for an authorized purpose.g. Transfer an interest of the principal in real property, stocks and bonds, accounts with financial institutions or securities intermediaries, insurance, annuities, and other property to the trustee of a revocable trust created by the principal as settlor.h. Establish a medical assistance special needs trust pursuant to chapter 633C for the benefit of the principal and transfer an interest of the principal in real property, stocks and bonds, accounts with financial institutions or securities intermediaries, insurance, annuities, and other property to the trustee of any such trust.i. Establish a medical assistance income trust pursuant to chapter 633C for the benefit of the principal and transfer an income interest of the principal to the trustee of any such trust.2014 Acts, ch 1078, §36; 2016 Acts, ch 1088, §6, 8, 9; 2023 Acts, ch 124, §8
Amended by 2023 Iowa, ch 124, s 8, eff. 7/1/2023.Amended by 2016 Iowa, ch 1088, s 6, eff. 4/13/2016.Added by 2014 Iowa, ch 1078, s 36, eff. 7/1/2014.Referred to in §633B.201, 633B.202, 633B.203
Subsection 2, NEW paragraphs h and i