Iowa Small Estate Affidavit With Trustee
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How to fill out Iowa Small Estate Affidavit For Personal Property Estates Not More Than $50,000?
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FAQ
Most inheritance cases in Iowa will require probate. However, there are a few exceptions, such as having an estate with a value of less than $25,000 that only includes personal property.
If there is no real estate to transfer and the sum of the deceased assets is $50,000 or less, an eligible person can use a small estate affidavit, rather than going through probate. Iowa Code 633.356 establishes the requirements for a small estate affidavit.
Is Probate Required in Iowa? Most inheritance cases in Iowa will require probate. However, there are a few exceptions, such as having an estate with a value of less than $25,000 that only includes personal property. If you name a beneficiary to your assets, you can also avoid probate.
Updated on August 27th, 2022. An Iowa small estate affidavit, also known as an ?affidavit for distribution of property,? is a legal document that gives successors the right to distribute a deceased person's estate without the court's involvement.
Effective for estates of decedents dying on or after July 1, 2020, Iowa law also provides for small estate administration when the gross value of the probate assets of a decedent is less than $200,000.00 upon a petition of an authorized petitioner. IOWA CODE § 635.1.