Iowa Probate Explained

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Iowa Probate Explained
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The Myth
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You have certainly seen this scene in movies,
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Someone passes away
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After the funeral, there is a reading of the
will
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The assumption is that the person who read the
will is going to distribute inheritances right
away
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The Reality
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In reality, there is no reading of the will
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When you create a will you name an executor or
executrix to administer the estate
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After you pass away, this representative must
admit the will to the probate court
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• A Waiting Game

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During probate the business of the estate is
conducted
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This can include paying final debts, including
taxes
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Property liquidation is often necessary as well
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CHALLENGES TO THE WILL can be presented during
probate
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Given everything that must be accomplished, the
process of estate administration can take a good
bit of time
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No one is going to receive an inheritance UNTIL
THE ESTATE HAS BEEN PROBATED AND CLOSED
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• How Long?

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Exactly how long the process of probate will take
depends on the circumstances
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Simple cases can be resolved in a matter of months
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Some complicated cases are stalled in probate
for multiple years
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• Smaller Estates

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In the state of Iowa smaller estates can
potentially be administered outside of the full
probate process
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If the estate is worth less than 25,000 it may
be possible to claim property through the
execution of a simple affidavit
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A simplified probate process may be available if
the estate in question is valued at 100,000 or
less
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• Can Probate Be Avoided?

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When you learn about the process you may wonder
if it is possible to arrange for asset transfers
outside of probate
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THE ANSWER IS YES, probate avoidance strategies
are routinely implemented by licensed estate
planning attorneys
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Davenport, Iowa Estate Planning Attorneys
Can Probate Be Avoided?
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Our firm has a comprehensive understanding of the
Iowa probate process
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We also assist clients who would like to avoid
probate
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If you would like to discuss your situation with
a licensed professional contact us to schedule a
free consultation
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You can reach us by phone at [phone] or
contact us through our website
Click to visit www.DuffyLawOffice.com