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The Iowa small estate affidavit, or affidavit for distribution of property, can be used to bypass the probate process if the value of the assets left by a decedent is less than $50,000. In Iowa, this is considered a ?very small estate? that may avoid the probate process altogether.
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.
How to Write the Kansas Small Estate Affidavit Form Download the Template. ... Indicate the County. ... Provide Your Complete Name. ... State the Details of the Decedent's Death. ... Check that All the Other Statements Are True and Correct. ... Insert the Beneficiaries' Data. ... List the Property. ... Append Your Signature.
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.
Iowa law requires that an estate be closed within 3 years after the second publication of the notice to creditors, unless a court grants an extension. Even while the estate is still in probate, however, beneficiaries may be able to receive part of their inheritance.
Cost Of The Small Estate Affidavit Procedure The clerk's filing fee for this procedure is usually about $475 in Texas. That is generally the only court expense. *(The free consultation does not cover actual review of documents or giving legal advice on a specific situation.)
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.