A person who wishes to have his or her assets distributed according to a certain “road map” may execute a will. A will provides a personal representative of the estate called an executor with instructions of how to distribute property after all claims (debts) against the estate are settled. If someone does not leave behind a will, the property will pass to heirs under a process set out in the law, called intestacy.
In December, Governor Kim Reynolds announced a new $9 million program created through the CARES Act to provide for rental payment assistance to low-income Iowans facing eviction and assistance to transition homeless Iowans back to housing. This program was launched as an effort to help those facing home insecurities due to the Covid-19 pandemic.
An important part of the estate planning process is keeping the will in a safe, accessible location. Unfortunately, there may be instances when the will is lost, unintentionally destroyed, or otherwise not available for the probate process.
Probate cases are often troubling times for families. Not only is a person going through the loss of a loved one, but the probate process is often confusing and stressful. Sometimes, this process can go on for several years. The estate will usually be closed within three years. What happens if an issue relating to the estate happens after the estate is closed? What if new assets are discovered which need to be distributed? Iowa law allows estates to be reopened under certain circumstances.
Like many states, Iowa requires sellers to reveal various issues with homes that could affect the property’s value or condition. For example, a seller in Iowa can’t fraudulently conceal major defects in a home.
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