tag:blogger.com,1999:blog-29683660.comments2024-03-02T00:47:10.837-06:00Iowa Estate Planmatthewgardnerhttp://www.blogger.com/profile/03654388170870329353noreply@blogger.comBlogger296125tag:blogger.com,1999:blog-29683660.post-67339594287566017942018-04-21T11:19:35.249-05:002018-04-21T11:19:35.249-05:00Cate-
As long as you aren't objecting to my f...Cate-<br /><br />As long as you aren't objecting to my fees...<br /><br />Simply file a resistance with the court, but you will need to file it electronically as Iowa courts utilize electronic filing. After you file your objection, the court will set the matter for hearing and at the hearing you will have a chance to explain why you believe the fees are excessive.matthewgardnerhttps://www.blogger.com/profile/03654388170870329353noreply@blogger.comtag:blogger.com,1999:blog-29683660.post-76447044437234715052018-04-20T23:13:10.638-05:002018-04-20T23:13:10.638-05:00How do you file an objection with the court for ex...How do you file an objection with the court for excessive fees?<br />Catenoreply@blogger.comtag:blogger.com,1999:blog-29683660.post-3299945972302658652017-11-19T21:11:06.386-06:002017-11-19T21:11:06.386-06:00Richard -
So I follow your question: Non-Iowa res...Richard -<br /><br />So I follow your question: Non-Iowa resident dies owning stock in a corporation that owns Iowa real estate. Any Iowa work required? Answer: No. The stock is considered personal property which follows the residency of the decedent. For example, if he was a Nebraska resident (poor soul) and owned stock in a corporation (located anywhere), no Iowa probate or work is needed for the estate.matthewgardnerhttps://www.blogger.com/profile/03654388170870329353noreply@blogger.comtag:blogger.com,1999:blog-29683660.post-51354315175379156952017-11-19T21:08:05.245-06:002017-11-19T21:08:05.245-06:00Jill-
The POD fees are included in the attorney f...Jill-<br /><br />The POD fees are included in the attorney fee calculation. The only item that a person can own that would be excluded is life insurance if it is payable to a named beneficiary. Thus POD, TOD, and joint property is included in computing court costs, attorney fees and PR fees.matthewgardnerhttps://www.blogger.com/profile/03654388170870329353noreply@blogger.comtag:blogger.com,1999:blog-29683660.post-84944820614476577602017-11-17T15:33:34.076-06:002017-11-17T15:33:34.076-06:00Thank you for sharing your knowledge with all and ...Thank you for sharing your knowledge with all and your blog. Question: Stockholder holding 100% of shares of corporation (not in Iowa) dies owning farm land in Iowa. Stockholder has no other business ties in Iowa. What would be required in Iowa as to settling the deceased estate?<br /><br />RichardAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-29683660.post-61479457582078967642017-11-17T11:10:42.927-06:002017-11-17T11:10:42.927-06:00The lawyer for my dad's estate included his PO...The lawyer for my dad's estate included his POD CDs in the mix when he was calculating his % fees. I thought my dad had structured these funds as POD to keep them from being entered into probate after he passed. Is it true that POD funds are exempt from the estate lawyer's fees, or are those calculated on the total value of the estate, regardless of probate status? <br /><br />Thanks so much!<br /><br />Jill Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-29683660.post-44510006339800214532017-10-22T21:56:20.525-05:002017-10-22T21:56:20.525-05:00YoungWidow-
As usual, it is difficult to give an ...YoungWidow-<br /><br />As usual, it is difficult to give an easy answer. For example, assuming that there was no will for your husband, you get 1/2 of his estate and his 6 children split 1/2. However, the surviving spouse is guaranteed to get at least $50,000.00 in value (from an intestate estate - "no will"). So, possibly you get the house, possibly split, possibly reimbursed for your expenses, etc. In other words, probably best to get legal advice.matthewgardnerhttps://www.blogger.com/profile/03654388170870329353noreply@blogger.comtag:blogger.com,1999:blog-29683660.post-11538935797810719842017-10-20T18:41:22.952-05:002017-10-20T18:41:22.952-05:00My husband died 3 years ago. The house is in his n...My husband died 3 years ago. The house is in his name only and there is no mortgage. He had no debts or assets besides the house which was our marital home. We have no children but he has 6 adult children. I have paid all costs to bury him and any bills incurred in his name. I have kept the property maintained and paid all taxes and insurance. How can I get my name on the house? I fear for insurance it could cause issue if ever there was a claim.YoungWidownoreply@blogger.comtag:blogger.com,1999:blog-29683660.post-22215253671428326542017-08-25T12:57:09.465-05:002017-08-25T12:57:09.465-05:00Anonymous-
Not a stupid question at all. In orde...Anonymous-<br /><br />Not a stupid question at all. In order for the Will to have the ability to transfer ownership of the house to you, the Will would need to be admitted to court in the probate proceedings. The court has to make sure it is a valid will, nobody contests it, that all bills & taxes are paid, etc. That probate process is how all of these issues get resolved so that you as an owner to the house can sell it, keep it or do whatever you want with it.matthewgardnerhttps://www.blogger.com/profile/03654388170870329353noreply@blogger.comtag:blogger.com,1999:blog-29683660.post-64210491820644229482017-08-25T11:30:19.584-05:002017-08-25T11:30:19.584-05:00This may be a stupid question, but I'll ask an...This may be a stupid question, but I'll ask anyway. My mom past away. She has a will that states I will receive everything. What do I need to do as far as the house that is paid for, insurance , etc.?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-29683660.post-20867336915609012182017-05-25T21:25:06.827-05:002017-05-25T21:25:06.827-05:00Bondj-
Unfortunately, that is accurate under the ...Bondj-<br /><br />Unfortunately, that is accurate under the Iowa Code. As to "why" insurance benefits are exempt, I suspect the answer lies in the lobbyist strength for the insurance companies. Other than that, all I can say is "just because".matthewgardnerhttps://www.blogger.com/profile/03654388170870329353noreply@blogger.comtag:blogger.com,1999:blog-29683660.post-49012534690260726412017-05-25T19:10:21.983-05:002017-05-25T19:10:21.983-05:00My mother had a small estate of house, bank accoun...My mother had a small estate of house, bank accounts and personal property. The bank accounts were all POD and have already been paid. We are being told these need to be included on the "inventory" and thus will be subject to the attorney fees, is this correct? Why are life insurance benefits paid to beneficiaries exempt but not POD financial accounts please? Thank you for your help.bondjhttps://www.blogger.com/profile/02664242613414847667noreply@blogger.comtag:blogger.com,1999:blog-29683660.post-48773026173656831372017-02-27T10:07:14.175-06:002017-02-27T10:07:14.175-06:00Diane a/k/a Robot-
Thanks for the comments. Your...Diane a/k/a Robot-<br /><br />Thanks for the comments. Your proposal of having two bank officials sign as witnesses is workable and sufficient. And yes, you as a beneficiary would not want to be a witness. That satisfies the signature requirements. (I won't get into other questions about a valid will as that entails legal advice.) The affidavit you referenced can be signed either (a) at the same as signing the will or (b) after the testator passes away. (The trick can be locating a witness 20 years later when they have moved, died, remarried, etc. There are options, but some hoops to jump.) matthewgardnerhttps://www.blogger.com/profile/03654388170870329353noreply@blogger.comtag:blogger.com,1999:blog-29683660.post-57657284401821173992017-02-26T22:54:20.368-06:002017-02-26T22:54:20.368-06:00Mr. Gardner,
I'm not sure if my last message ...Mr. Gardner,<br /><br />I'm not sure if my last message ever sent. Since it doesn't post right away and it has to be approved before it posts, I'm not sure if it was never approved or never sent! I always have trouble proving I'm not a robot. I'm trying to not take that as an attack on my personality!<br /><br />Anyway, back to the point here, I understand the point you're making about wills being signed by two witnesses. In your example, the valid will is the one with two witnesses' signatures. If I'm correct, I don't think I can be a witness because it has to be someone impartial who does not stand to benefit from the will. <br /><br />It could, I assume, be signed by two notaries. Like, for instance, two people at a bank that both are notaries. Do they need to attach affidavits or are their signatures sufficient?<br /><br />Thanks for what you do! Your blog is excellent!<br /><br />DianeAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-29683660.post-53383191618621863452017-02-12T12:48:02.695-06:002017-02-12T12:48:02.695-06:00Diane-
Neither I nor the thread have expired, so ...Diane-<br /><br />Neither I nor the thread have expired, so all is good. :-)<br /><br />"Non-lawyer drafted" generally gives me pause, as I have seen several wills that attorneys have drafted that have created nightmares. When families get along, some things can be smoothed out. But when there is potential turmoil/drama, an incorrectly worded will can just provide enough room for someone to attack the will on some ground of deficiency.<br /><br />However, regardless of that concern, having a will notarized does not make it a valid will. In fact, if it just notarized, it is not a valid will. The key is that it needs to be witnessed by two individuals (at the same time as when it is signed). Thus, for example, if I have two wills and one is notarized and the other is not, but is witnessed by two individuals, which one is valid in Iowa?matthewgardnerhttps://www.blogger.com/profile/03654388170870329353noreply@blogger.comtag:blogger.com,1999:blog-29683660.post-2890216605847507622017-02-11T14:42:16.606-06:002017-02-11T14:42:16.606-06:00Mr. Gardner,
Thank you for your reply. I was happ...Mr. Gardner,<br /><br />Thank you for your reply. I was happy for the response because I assumed this thread might have expired. I understand that you cannot give legal advice, but what gave you pause regarding a non-lawyer drafted, notarized will to a non family member? I read the link you provided and it appears that a notarized will would meet the requirements of a will as outlined in the first paragraph.<br /><br /><br />Thanks,<br /><br />DianeAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-29683660.post-89213754222980775972017-01-25T08:18:35.799-06:002017-01-25T08:18:35.799-06:00Diane-
Like many issues in the legal system, ther...Diane-<br /><br />Like many issues in the legal system, there is no black and white. Here is the basic summary of the out-of-state executor issue:<br />(1) The Iowa Code requires that if an out-of-state executor is appointed, that an Iowa resident also be appointed to serve with them.<br />(2) HOWEVER, the Court has the flexibility to waive the requirement of an Iowa executor. So yes, it is entirely up to the discretion of the court/judge and perhaps the kind of day they are having. (For example, they may condition a non-Iowa resident as the appointment if they maintain the bank account in Iowa and don't remove funds out of the state.)<br /><br />While I can't give you legal advice (although your comment about non-lawyer drafting and notarized to a non-family beneficiary caused a little anxiety for me see http://www.iowabar.org/default.asp?page=LegalInfoProbate), naming a non-Iowa resident doesn't invalidate the will in any way or subject it to challenge by itself. It just affects who the court appoints to handle the affairs.matthewgardnerhttps://www.blogger.com/profile/03654388170870329353noreply@blogger.comtag:blogger.com,1999:blog-29683660.post-49368063095598148052017-01-24T18:55:50.612-06:002017-01-24T18:55:50.612-06:00Hi,
I just wandered upon this site from Google. I...Hi,<br /><br />I just wandered upon this site from Google. In the above comment thread, Colleen was told that the statute for Iowa for out-of-state executors is often waved. The next comment after that, Anonymous was advised that they may need to name a resident also. So, which is it? Basically it's at the mercy of the court as to how they feel? I have been the sole beneficiary and executor named for many years on someone's (non blood relative) will. I recently moved just a couple hours across state lines. This person has no spouse or children. The will, I'm told, was not done by a lawyer but was notarized. There are distant family members that are state residents that are specifically named and excluded from the will. Based on other cases, would that scenario present challenges for me being upheld as sole executor? Or potential for the will to be challenged?<br /><br />Thanks,<br /><br />Diane<br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-29683660.post-27742895623333743072017-01-16T09:00:51.516-06:002017-01-16T09:00:51.516-06:00Well, I will give your wife's creditors points...Well, I will give your wife's creditors points for creativity. First, did you sign anything yourself obligating you to pay for those expenses? (I'm guessing not, otherwise they wouldn't be reaching.) There is a doctrine of necessities, but it is not exactly a frequently used provision, going back about 50 years is the last mention I find here in Iowa. Other states have basically stated that the doctrine is there to force the husband to take care of his wife, not for creditors to use as a tool. <br /><br />Cite them this Iowa Code section, and then get an attorney to dispense with them if they don't go away:<br /><br />597.17 Liability for separate debts.<br />Neither husband nor wife is liable for the debts or liabilities of the other incurred before marriage, and, except as herein otherwise declared, they are not liable for the debts of each other contracted after marriage; nor are the wages, earnings, or property of either, nor is the rent or income of the property of either, liable for the separate debts of the other.matthewgardnerhttps://www.blogger.com/profile/03654388170870329353noreply@blogger.comtag:blogger.com,1999:blog-29683660.post-84854916469211682502017-01-16T00:30:12.795-06:002017-01-16T00:30:12.795-06:00Hi Matthew, I have a question which I am hoping is...Hi Matthew, I have a question which I am hoping is a simple answer, but I have spent countless hours researching with no luck.<br /><br />Is the surviving spouse obligated to pay a deceased spouse's medical debt after it has been discharged by an Iowa court through the probate process? Can the creditor send this discharged debt to collections, affecting the surviving spouse's credit score?<br /><br />Background: My wife passed away about two years ago. She died intestate, and an estate was set up shortly afterward. She had very few assets and quite a bit of debt. Most was student loan debt that was discharged, but there was also medical debt. The estate was deemed insolvent and all debts were discharged by a court several months ago. Recently, one of her medical creditors has been contacting me claiming that I owe her remaining balance. They are sending increasingly urgent statements saying I need to contact them to prevent further recovery efforts. I provided them the court order showing the debt has been discharged, but their leadership team that reviewed it claims that I owe it due to doctrine of necessities. I have been told previously by the lawyer that handled my estate that I do not owe this debt as it has been discharged. My concern is that the creditor will attempt to send it to a collection agency, which will affect my credit rating. Does a discharged debt mean that this creditor can no longer legally collect from me as the spouse? Thank you for your time.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-29683660.post-89435752993277372252016-11-03T15:51:52.609-05:002016-11-03T15:51:52.609-05:00Anonymous-
I'm sorry about your mother's ...Anonymous-<br /><br />I'm sorry about your mother's passing. While you have several specific questions, I ethically can't give legal advice here on the blog. I would be glad to visit with you privately about some specifics if you like to engage my services.<br /><br />However, I can give some general legal information related to ancillary proceedings here in Iowa:<br />1. Being able to sell real estate that was owned by a decedent (whether ancillary or not) can be completed at any time. Contrary to common misunderstanding, there is not a total freeze in an estate. The creditor period only delays distribution out of the estate. Thus, you can sell the property, but you may not be able to distribute until later. (One caveat: unless the court waives court approval, you may need to get the court to approve the sale. This also assumes no problems getting the estate opened.)<br />2. The fee is subject to discussion with the attorney. Keep in mind that there is still the same amount of work necessary (opening the estate, publishing notice, giving notice, tax filings, sale/distribution, and closing the estate) even though the items are organized. You may be able to work on an hourly basis, but I would assume probably ~15 hours of work to complete is a bottom line.matthewgardnerhttps://www.blogger.com/profile/03654388170870329353noreply@blogger.comtag:blogger.com,1999:blog-29683660.post-18315754599002481212016-11-03T15:18:53.836-05:002016-11-03T15:18:53.836-05:00Matthew: first, I'd like to thank you for wri...Matthew: first, I'd like to thank you for writing this blog. It has been an extremely helpful resource for me this week in trying to get a handle on the issues with my mother's estate. My mother recently passed away in Colorado where she lived. I have filed the probate here and am the Personal Representative (executor) duly registered with the court, and my brother and I are her sole heirs. However, my mother and her sister inherited their father's farm in Iowa. They had decided recently to sell it as neither of them were getting any younger, and they wanted to avoid complications. The property was auctioned off and sold in August, but the closing was not scheduled until the end of November. My mother became sick and passed away quickly two weeks ago. The farm auctioneer is telling me that the closing will likely be delayed (I'm pretty sure this is because of the waiting period for creditors). I am starting the ancillary probate process in Iowa (most likely with an attorney), but have a couple of questions <br />1). Other than the farm income (a farm manager took care of planting, harvesting, and selling the crops), my mother had no dealings in Iowa (no bank accounts, no vehicles, life insurance, etc.), so I can't think of any situation where creditors would have any claim on her in Iowa. I'd like to avoid delaying the closing, or at least be able to delay it as little as possible. Is that possible?<br />2). Since most of the work (inventorying, appraising, etc) was already done prior to the auction, what is a reasonable fee to pay a lawyer to probate this estate in Iowa?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-29683660.post-90954017432193966292016-10-23T09:33:20.162-05:002016-10-23T09:33:20.162-05:00Worst thing? Steal the money and move to a country...Worst thing? Steal the money and move to a country without an extradition treaty with US. However, as a beneficiary, the executor basically needs your blessing to approve the handling of the estate in order to close it out. (Well, sort of - the court has the final say, but you can object to the court and have the court make a determination.) Potentially, the executor controls how and when the property is sold, who handles it, etc. But they have to do it in a fair and reasonable manner, but it may be several months before you get all of the information.<br /><br />Given the dynamics, it may be better to have an independent executor (like a bank) involved as the executor. While they will charge a fee (as may your sibling) it may keep you and your sibling on equal footing and less likely to be at each other's throats. Banks can also give regular updates/accountings to the beneficiaries, whereas the sibling may not.<br /><br />If you don't go that direction, then you can just request to keep updated on the status of the estate administration with the attorney.matthewgardnerhttps://www.blogger.com/profile/03654388170870329353noreply@blogger.comtag:blogger.com,1999:blog-29683660.post-81210720843586326082016-10-22T11:21:44.851-05:002016-10-22T11:21:44.851-05:00I have one sibling, who is currently designated as...I have one sibling, who is currently designated as Executor in the will of our only living parent, whose health is not at all good. Our sibling relationship is somewhat strained and the sibling is already making comments that he/she "will be in total control of all the assets" when our parent dies, to the extent I'm quite concerned about his/her plans to be trustworthy. The estate includes a house, farmland, and cash in the bank, as well as many items that have emotional value to both of us. If the will names us as equal beneficiaries, yet he/she is the executor, what is the worst thing he/she could do to me? How can I avoid being taken advantage of and best prepare for what lies ahead? The living parent has made it quite clear he wants things to be fair, and no hanky panky, so if the will can be modified in a way that could avoid trouble, I'd like to know it now. Thanks in advance for your assistance!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-29683660.post-462820987446096102016-10-04T08:50:30.076-05:002016-10-04T08:50:30.076-05:00Long, long, long time ago. Before I was birthed. ...Long, long, long time ago. Before I was birthed. But modified most recently in 2015.matthewgardnerhttps://www.blogger.com/profile/03654388170870329353noreply@blogger.com