Iowa Contest of Final Account and Proposed Distributions in a Probate Estate

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US-02652BG
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Description

The beneficiaries of a Will that has been probated and is being administered in a estate proceeding have the right to contest an accounting of the Executor of the Will and Estate.


This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.

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FAQ

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."

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.

Executors and trustees hold legal duties to provide interested parties with timely and accurate estate accountings. Heirs and beneficiaries can sue ingly for breach of fiduciary duty when this doesn't happen.

§ 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 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.

The Personal Representative must file a final account, report and petition for final distribution, have the petition set for hearing, give notice of the hearing to interested persons, and obtain a court order approving the final distribution.

With the distribution of all assets, the executor is said to have ?closed the estate.? But, the executor still retains the power to gather newly discovered assets and address future complaints.

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.

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Iowa Contest of Final Account and Proposed Distributions in a Probate Estate