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How Do You Avoid Probate in Iowa? If the individual has a revocable living trust with estate assets and names a beneficiary, you can avoid probate. You can also skip the process if the individual names a beneficiary for all assets.
Unless the courts grant you an extension, Iowa Probate Code 633.361 affirms you'll have you three months starting from the day the court appoints you as executor to appraise, report, and inventory the deceased's estate accurately.
If you have no descendants, your spouse will inherit everything. If you only have descendants from your relationship with your spouse, your spouse will still inherit everything.
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.
Iowa probate follows this general flow: contact the court, get appointed as personal representative, submit will if it exists, inventory and submit valuations of all relevant assets, have the court and beneficiaries approve it, and then distribute the assets to beneficiaries.
§ 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. Signing ? The affidavit must be signed and sworn before a notary public.
If you die with an ownership interest in any property, your estate generally must be probated whether you have a will or not. The court will determine whether your will is valid or determine who is to receive the property if there is no will. Thus, with or without a will you could end up "in court."
If the property received by the surviving spouse under subsections 1, 2 and 3 of this section is not equal in value to the sum of fifty thousand dollars, then so much additional of any remaining homestead interest and of the remaining real and personal property of the decedent that is subject to payment of debts and ...