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§ 633.356(1), forty (40) days must pass between the date of death and the use of a small estate affidavit. Maximum ? $50,000. I.C.A. § 633.356(1) defines a very small estate as having a gross value of $50,000 or less, and it must not contain any real property.
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.
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.
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.)
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.