Amendment to Trust Code

On May 26, 2023   /   Estate & Trust Administration, Estate Planning West Des Moines, Legal Resources West Des Moines, Uncategorized  
iowa guardianship law

House File 232, which is currently before the Governor for signature, provides a mechanism whereby new trusts and existing trusts will have a new tool to obtain information from third parties.  The new provision allows a Trustee to present a written request to any person for the purpose to obtain information required to perform the Trustee’s duties or any information on property owned by the Trust and which is owned by the Trust Settlor at the time of death, including information about the property that has passed or will pass by beneficiary designations or joint tenancy ownership. The request must

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Information on Protecting Yourself From the COVID-19 Crisis

On March 23, 2020   /   Legal Resources West Des Moines, Uncategorized  
protection from covid-19 coronavirus

This month’s Blog comes to you at a time when our country is dealing with the COVID-19 crisis.  The Centers for Disease Control and Prevention has issued the following recommendations to protect yourself. Know How it Spreads There is currently no vaccine to prevent coronavirus disease 2019 (COVID-19) The best way to prevent illness is to avoid being exposed to this virus. The virus is thought to spread mainly from person-to-person. Between people who are in close contact with one another (within about 6 feet). Through respiratory droplets produced when an infected person coughs or sneezes. These droplets can land

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Recordkeeping: A Blissful Task or Cursed Undertaking?

On January 20, 2016   /   Business Law West Des Moines, Contract Law West Des Moines, Corporate Law West Des Moines, Elder Law West Des Moines, Estate & Trust Administration, Estate Planning West Des Moines, Legal Resources West Des Moines, Non-Probate Administration, Probate Law West Des Moines, Real Estate Law West Des Moines, Taxation Law West Des Moines, Uncategorized, Will & Trusts West Des Moines  
recordkeeping west des moines iowa

What is it about Recordkeeping that makes it so difficult to do at times? As I get into the topic of recordkeeping, I learned that it is a much broader topic than this Blog has time to address. Recordkeeping addresses an array of matters for which records are created. In my opinion, there are two significant elements of recordkeeping, they are the emotional side (how I feel about recordkeeping) and the reasoning side (what I think about recordkeeping). First, I want to address the emotional side. Is it fun to do? Is it tedious to do? Do I feel rewarded

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De Minimis Safe Harbor Expense Threshold

On December 18, 2015   /   Business Law West Des Moines, Corporate Law West Des Moines, Taxation Law West Des Moines, Uncategorized  
business taxes, business tax deductions, deduction limits, business expense threshold limits, De Minimis Safe Harbor Expense Threshold

On November 25, 2015, the IRS issued a Notice increasing the De Minimis Safe Harbor Threshold for deducting certain capital expenses from $500.00 to $2,500.00.  The new limit goes in effect on January 1, 2016.  The De Minimis Safe Harbor Expense Threshold is applicable to any type of business entity: a C Corporation, an S Corporation, an LLC, or any type of partnership, and Schedule C (Profit or Loss from Sole Proprietorship), Schedule E (Supplemental Income and Loss from Rental Real Estate), Schedule F (Profit or Loss from Farming) and Schedule 4835 (Farm Rental Income and Expenses).   We are recommending

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