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.
Once the judge declares the will is valid and verifies that you're qualified to serve as executor, they'll approve your request and issue you a letter of testamentary. You can then use this document to prove your legal authority to administer your loved one's estate ing to their will.
A Letter of Appointment of Executor helps prove you have been put in charge of someone's estate after they have passed away. As Executor, you've been given the duty to manage the estate and carry out the directions of the will; however, a court may require official documentation.
As part of the probate process, letters testamentary are issued by your state's probate court. To obtain the document, you need a copy of the will and the death certificate, which are then filed with the probate court along with whatever letters testamentary forms the court requires as part of your application.
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.
(Iowa Code 635.7.) It helps the court ensure that the estate falls under the $200,000 limit. The personal representative will also file a closing statement (whose requirements can be found in Iowa Code 635.8), and provide copies to all interested parties.
The need for probate does not normally depend on the size of your estate. For example, if you are the sole owner of any real property, your estate will have to be probated so your heirs will have clear title to the property. This is true no matter how small your estate.
Under current law, Iowa Code section 633.31(2)(k) provides a sliding scale fee for services performed in connection with the settlement of an estate based upon the value of the estate.