Revocable Living Trusts in Iowa
How revocable living trusts work under Iowa law and the other ways to pass property without probate.
Short answer: Iowa has its own Iowa Trust Code (Chapter 633A). For trusts created by instruments signed on or after July 1, 2000, a trust is revocable unless its terms expressly say it is irrevocable. Iowa Code §§ 633A.1101, 633A.3102
| Revocable living trust | Iowa has its own Iowa Trust Code (Chapter 633A). For trusts created by instruments signed on or after July 1, 2000, a trust is revocable unless its terms expressly say it is irrevocable. A revocable trust can be revoked or changed by the method in the trust or, unless that method is exclusive, by a signed writing (not a will) delivered to the trustee during the settlor's life, or by a later will or codicil that expressly refers to the trust and devises the trust property. Assets must be retitled to the trustee to be governed by the trust; trust property passes under its terms without probate. |
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| Ways to avoid probate | Non-probate options in Iowa include: joint tenancy with full rights of survivorship; payable-on-death and beneficiary-designated accounts and life insurance; property in a funded revocable trust (Iowa Code § 633A.3102); the small estate affidavit for $50,000 or less of personal property when there is no real property, usable 40 days after death (Iowa Code § 633.356); and small estate administration for probate assets of $200,000 or less (Iowa Code § 635.1). Iowa has not adopted a transfer-on-death deed for real estate. |
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FAQ
How do living trusts work in Iowa?
Iowa has its own Iowa Trust Code (Chapter 633A). For trusts created by instruments signed on or after July 1, 2000, a trust is revocable unless its terms expressly say it is irrevocable. A revocable trust can be revoked or changed by the method in the trust or, unless that method is exclusive, by a signed writing (not a will) delivered to the trustee during the settlor's life, or by a later will or codicil that expressly refers to the trust and devises the trust property. Assets must be retitled to the trustee to be governed by the trust; trust property passes under its terms without probate.
How can you avoid probate in Iowa?
Non-probate options in Iowa include: joint tenancy with full rights of survivorship; payable-on-death and beneficiary-designated accounts and life insurance; property in a funded revocable trust (Iowa Code § 633A.3102); the small estate affidavit for $50,000 or less of personal property when there is no real property, usable 40 days after death (Iowa Code § 633.356); and small estate administration for probate assets of $200,000 or less (Iowa Code § 635.1). Iowa has not adopted a transfer-on-death deed for real estate.
General legal information, not legal advice. Laws change and local rules can differ; check the linked official source or talk to a lawyer about your situation.