In this video, our Bettendorf probate attorneys explain that probate is the official manner in which an estate is settled under supervision of the court. When a person dies without an established will, an executor is appointed (typically a surviving spouse or adult child of the deceased) to gather and value owned assets, settle remaining debts, and distribute assets to heirs. Probate prevents fraud and theft after a death. Without it, debts could go unpaid and assets could be improperly distributed. Iowa estates that exceed the small estate threshold, have no will, or have a will but no living trust will require probate before the estate can be transferred to beneficiaries.

In this video, our Bettendorf probate attorneys explain how in Iowa, there are laws that allow some shortcuts through probate for small size estates. These rules make it easier for surviving family members to transfer property left by the deceased. In many circumstances, you may be able to transfer a majority of property using simple procedures, avoiding probate court all together, by using an affidavit. This saves everybody time, money and additional hassle. Iowa has procedures to allow those inheriting property to skip probate all together if the value of the assets left by the deceased is below a certain sum. If they meet the threshold, all someone inheriting property will need to do is have an affidavit drafted stating that they are entitled to a certain asset. Iowa also has a simplified probate process for small estates. To qualify, the executor must file a written request with the local probate court requesting the simplified procedure. The court will then look over the estate documents and determine whether the assets can be distributed with the simplified process.  In Iowa, the simplified estate process can be used if the gross value of the estate is under $100,000. 

In this video our Bettendorf estate attorneys explain the recent changes to Iowa state and probate. The Iowa State Legislature modified a Iowa Law as it relates to the transfer of real estate. A “transfer” under Iowa Law, for the purposes of real estate disclosures, is the transfer or conveyance by sale, exchange, real estate contract, or any other method by which real estate and improvements are purchased, if a property includes at least one but not more than four dwelling units. A written disclosure usually must be given by the transferor to the person interested in being transferred the real property.