Changes to Guardianships for Minors

minor guardianship des moines iowa

The Iowa Legislature recently passed and the Governor signed legislation which makes significant changes to the Iowa law regarding guardianships and conservatorships for adults and minors. Last month my blog dealt with the changes regarding guardianships for adults and conservatorships for adults and minors. This month I will discuss changes for guardianships for minors. The new law will apply to new minor guardianships opened after December 31, 2019 and will also apply to minor guardianships which were opened prior to January 1, 2020. The provisions in the Code regarding minor guardianships have been moved from Chapter 633 to Chapter 232D.

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Changes to Guardianship and Conservatorship Statutes

guardianships and conservatorships

The Iowa Legislature recently passed and the Governor signed legislation which makes significant changes to the Iowa law regarding guardianships and conservatorships for adults and minors.  This month I will deal with the changes regarding Guardianships for adults and Conservatorships for adults and minors.  Next month, I will discuss changes for Guardianships for minors. For new guardianships and conservatorships which are opened after December 31, 2019, there are new requirements requiring professional evaluation of the proposed protected person and a requirement for a background check for all proposed guardians and conservators.  The guardian and conservator is required to file an

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New Law Regarding Certification of Trust

revocable living trust, living trust, estate planning des moines iowa

The Governor has recently signed Senate File 112 amending the requirements for certifications of trust. The new Act becomes effective July 1, 2019.  The certification of trust must do all of the following: State that the Trust has not been revoked, modified or amended in any manner that would cause the representations in the certification of trust to be incorrect. Be signed by a currently acting trustee or the attorney of an acting trustee. Be subscribed and sworn to under penalty of perjury before a notary public as provided in Chapter 9B. The new Act is broader than the current

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Trust Case Decided By Iowa Supreme Court

wills and trusts in iowa

On April 5, 2019, the Iowa Supreme Court issued an opinion in the case of Serena Konrardy and Carrie Rigdon n/k/a Carrie Burmeister vs. Vincent Angerer Trust and DeWitt Bank & Trust Company, as Trustee of said Trust. The Trust provided that on the death of the Trustor, equal shares would be established for each of the Trustor’s five siblings.  Each share was to be placed in individual trusts for the sibling and the spouse of a deceased sibling.  If both a sibling and the sibling’s spouse had died, the Trust directed the trustee to distribute the Trust share to

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Tax-Free IRA Distributions to Certain Public Charities for Taxpayers 70½ and Older

tax rules for ira distribution

The Federal Path Act includes provisions to allow a taxpayer who is age 70½ or older to make tax-free distributions from their IRA’s to qualified charities. The Path Act allows an individual who is over the age of 70½ to make a direct distribution from their IRA account to a charity.  The benefit of doing such is that the amount transferred to the charity will be counted as part of the taxpayer’s qualified minimum distribution and it will also not be included in the taxpayer’s gross income for Federal and State income taxes.  In order to qualify as a qualified

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IRS Guidance on Large Gifts Made Prior to 2026

irs tax on gift

Last month the Internal Revenue Service issued a proposed regulation addressing large gifts made prior to 2026.  The basic exclusion amount for estate or gift tax for the year 2017 was $5,490,000.00.  The 2017 Tax Cuts and Jobs Act increased the basic exclusion amount from 5 million to 10 million for tax years 2018 through 2025 with both dollar amounts adjusted for inflation.  For the year 2018 the basic exclusion amount adjusted for inflation is $11,180,000.00 million.  For 2019 the basic exclusion amount adjusted for inflation is $11,400,000.00.  Under the 2017 Tax Cuts and Jobs Act in the year 2026,

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Business Tax Update: Business Meals Still 50 Percent Deductible

iowa business tax law meal entertainment

The Internal Revenue Service recently issued a Notice (Notice 2018-76) regarding the deductibility of business meal expenses under the new Tax Act.  The Notice may be relied on until proposed regulations are published.  The Notice provides that most business meal expenses will be 50 percent deductible as long as a separate invoice is provided for the food.  The new Tax Act prohibits the deduction of entertainment expenses.  It has been unclear until this Notice whether business meals involving a client or a potential client would fall into the entertainment expense category.  As such, until the proposed regulations are published, a

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New Law Allows Consumers to Freeze Accounts at Credit Bureaus for Free

how do I freeze my credit

Consumers now have the power to freeze their accounts at the three Credit Bureaus for free, effective September 21, 2018, due to the Regulatory Relief, Economic Growth and Consumer Protection Act which was passed in May of 2018. In addition, consumers are allowed to unfreeze their accounts for free.  Consumers who are interested in placing a freeze on their Credit Bureau accounts should contact the three major reporting agencies, Experian, TransUnion, and Equifax.  In addition, consumers should also notify the National Consumer Telecom & Utilities Exchange (NCTUE) to have their account frozen.   NCTUE is the reporting agency used when individuals

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Opinion Issued on “No-Contest” Provision

last will and testement no-content

The Iowa Court of Appeals recently issued an opinion involving a will that contained a “no-contest” provision.  The will in question contained a “no-contest” provision which provided that if any beneficiary under the will contests the validity of the will by filing suit against the executor, any share to such beneficiary under the will is revoked and shall be disposed of in the manner provided under the will if the contesting beneficiary and all descendants of that beneficiary have predeceased the testator. After the testator’s death, a beneficiary under the will filed a petition to set aside the will based

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Intentional Interference with an Inheritance

interferance with inheritance

A recent case by the Iowa Court of Appeals dealt with the tort of intentional interference with an inheritance.  In the case, the testator died in 2015.  She had three children, two sons and a daughter.  She executed a Will in 2010 which divided her estate equally among her three children.  She executed another Will in 2011 which left most of her estate to her son, Wayne. After the 2011 Will was drafted, the other two children moved to file for a Guardianship and Conservatorship in regards to their mother.  The other brother, Wayne, proceeded to have a Codicil drafted

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