New Iowa Supreme Court Case on Prenuptial Agreements

On March 27, 2018   /   Estate & Trust Administration, Estate Planning West Des Moines, Legal Resources West Des Moines, Will & Trusts West Des Moines  
iowa lawyer for prenuptual agreement

The Iowa Supreme Court issued an opinion on March 2, 2018, in the case of Erpelding v. Erpelding which found that a prenuptial agreement which waives an award of attorney fees regarding issues of child or spousal support adversely affects the right to support and are categorically prohibited by Section 596.5(2) of the Iowa Code.  Iowa Code Section 596.5(2) provides that the right of a spouse or child to support shall not be adversely affected by a premarital agreement. If you have questions or need more information concerning prenuptial agreements, please contact us through the contact page on our Web

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Thinking of Gifting of Body to University of Iowa?

On August 29, 2017   /   Elder Law West Des Moines, Estate & Trust Administration, Estate Planning West Des Moines, Will & Trusts West Des Moines  
deeded body, living will, estate planning des moines

Many clients inquire as to the process to donate one’s body to the University of Iowa for scientific purposes. In order to be effective, the University of Iowa requires that a Deed of Disposition of Body for Scientific Purposes be on file with the University prior to an individual’s death. The Deed of Disposition of Body for Scientific Purposes can be executed by a person who is 18 years of age and competent. The University retains the right to not accept the body if it is not appropriate for their needs. The family of the donor or the estate of

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Death Taxes – What Are They?

On December 23, 2015   /   Elder Law West Des Moines, Estate & Trust Administration, Estate Planning West Des Moines, Real Estate Law West Des Moines, Taxation Law West Des Moines, Will & Trusts West Des Moines  
inheritance taxes des moines iowa

The words “death taxes” were created by persons (politicians) without defining the meaning or definitions of the words when they are spoken or written. I will try to bring meaning to the words “death taxes.” The event of death can cause two separate and distinct taxes. They are: A Federal estate tax and A State’s inheritance tax First the Federal estate tax is imposed on assets of a decedent’s estate over which he/she have title, ownership, dominion or control and have a net value of greater than $5,430,000 (called the Applicable Exclusion Amount) for deaths that occur in the year

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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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How Long Should You Keep Records?

On November 2, 2015   /   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, Real Estate Law West Des Moines, Taxation Law West Des Moines, Will & Trusts West Des Moines  
how long do i keep legal documents

Our clients frequently ask us for advice on how long they need to attain their various records. Often times, the requirements for records retention varies based on the circumstances. For the benefit of our clients as well as you, our readers, the table set forth below will give some general guidelines for record-keeping and documentation. If you have additional questions pertaining to the documentation of legal records or have questions concerning another legal matter, please don’t hesitate to call us – 515-225-1100. By James D. Beatty.

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“Near Death” Experiences Should Prompt Immediate Actions

On September 23, 2015   /   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, Will & Trusts West Des Moines  
near death experience legal matters des moines iowa

After you have recovered from a near-death experience, what are some tasks/things you might want to consider doing promptly (not prioritized except for the first task to do). Call your mother/father assuming they too have recovered from your near-death experience. Call your favorite teacher/athletic coach/mentor and tell him/her or them how much you have appreciated her/him or them (you may need to assume that she/he or they remember you). Invite your closest friend(s) to your home and share a bottle of really good wine or really really good Scotch with her/him or them. Go to that favorite quiet place in

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Planting a Tree – Iowa Tax Strategies

On May 20, 2015   /   Business Law West Des Moines, Corporate Law West Des Moines, Legal Resources West Des Moines, Taxation Law West Des Moines  
planting a tree Iowa legal strategies

The question was asked of a forester, “what is the best time to plant a tree?” The answer was 40 years ago. The second best time to plant a tree is today. So what is my point? Now that Iowa tax season is behind us, it is appropriate to take time and reflect on how we could have made the process of gathering income tax information less stressful. Gathering information on the income-side is relatively easy. That information is sent to you by a payer of interest or dividends, a K-1 from a partnership or Sub-S Corporation or some other

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Is It Time To Allow Post-Marital Agreements in Iowa?

On February 24, 2015   /   Contract Law West Des Moines, Estate & Trust Administration, Estate Planning West Des Moines, Legal Resources West Des Moines, Will & Trusts West Des Moines  
Post-Marital Agreements in Iowa

Our central Iowa clients are surprised when I tell them that pre-marital agreements are allowed in Iowa but post-marital agreements are not. The Iowa Legislature is considering legislation this year authorizing post-marital agreements in Iowa. The ban on post-marital agreements goes back to the early 1900’s. In the early 1900’s, a woman upon marriage was simply presumed to be merged into her husband and become one with him. Contrary to the laws of most states, in Iowa it is impossible for a husband and wife to contract with each other after marriage. The Iowa Supreme Court has upheld the ban

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Iowa’s New Elder Abuse Act

On November 3, 2014   /   Elder Law West Des Moines, Estate & Trust Administration, Estate Planning West Des Moines, Legal Resources West Des Moines, Will & Trusts West Des Moines  
elder care abuse act iowa

A new Act was passed in 2014 dealing with elder abuse. The new Act defines elder abuse as any of the following: 1. Physical injury to or injury which is at a variance with the history given of the injury or unreasonable confinement, unreasonable punishment, or assault of an vulnerable elder by a person. 2. The commission of a sexual offense under Chapter 709 or Section 726.2 with or against a vulnerable elder. 3. Neglect which is the deprivation of the minimum food, shelter, clothing, supervision, or physical or mental health care, or other care necessary to maintain a vulnerable

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