Chapter 365 of the Iowa Code contains the Small Estate Statute. Recent legislation was passed which has made changes to the Chapter.
The current statute is applicable to an estate if the value of the probate assets are $100,000.00 or less. One of the changes made in the legislation is to increase the maximum value of probate assets for an estate to qualify for small estate administration to $200,000.00 effective for estates of decedents dying on or after July 1, 2020.
The new change in the maximum value of probate assets, combined with the increase in the amount for distribution of decedent’s property by affidavit as discussed in my blog article two months ago, increases the options for handling small estates.
By – James D. Beatty