Everything You Need To Know About Living Wills

On October 27, 2016   /   Elder Law West Des Moines, Estate & Trust Administration, Will & Trusts West Des Moines  
living wills, senior medical care, do not resuscitate

Iowa law allows for individuals to execute Living Wills to insure that the rights and desires of terminally ill or comatose individuals are honored.  The document takes the decision making burden away from your family members.  Your physician will make sure your desires are accomplished.  Pursuant to the Living Will, you direct your physician to withhold life-sustaining procedures in the event you have an incurable or irreversible condition that will result in death within a relatively short period of time or a state of permanent unconsciousness from which, to a reasonable degree of medical certainty, there can be no recovery.

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Ned P. Miller “Of Counsel” October 1, 2016

On September 26, 2016   /   Business Law West Des Moines, Elder Law West Des Moines, Estate & Trust Administration, Legal Resources West Des Moines, Will & Trusts West Des Moines  
ned miller iowa attorney, of counsel west des moines

On October 1, 2016, Ned P. Miller will change his status from a Shareholder to “Of Counsel”. The “Of Counsel” designation indicates that Ned is on a semi-retirement basis and will continue his practice in fewer or more select areas of the practice of law. He will also be available to the firm for consultation and advice as needed. Our firm will remain in the same location and we will continue to practice in the same areas of the practice of law. James D. Beatty will continue as a Shareholder and will continue to practice full time. In the future,

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What is a Revocable Living Trust?

On August 26, 2016   /   Elder Law West Des Moines, Estate & Trust Administration, Estate Planning West Des Moines, Non-Probate Administration, Real Estate Law West Des Moines, Will & Trusts West Des Moines  
revocable living trust, living trust, estate planning des moines iowa

This month I want to introduce you to the Revocable Living Trust which is also known as a Revocable Trust, Living Trust, or Inter Vivos Trust. A Revocable Living Trust is a document which is used to manage one’s property during life and to distribute one’s property at the time of death. The person who creates the Trust is referred to as the trustor, grantor or settlor. The person who holds the property and who is in charge of the management of the Trust is the trustee. The individuals and entities which receive distributions from the Trust are the beneficiaries.

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More About Mediation

On July 28, 2016   /   Business Law West Des Moines, Contract Law West Des Moines, Legal Resources West Des Moines, Probate Law West Des Moines  
mediation, probate court mediation, mediation services

In last month’s blog, Jim Beatty discussed the mediation program for probate matters in Polk County. This blog will piggyback on that blog. Recently, I have had my first experience facilitating a mediation involving a probate matter. In anticipation of the mediation event, I did some research regarding styles of facilitating a mediation event and the styles of the positions of the disputing parties. Not only is it important to clearly identify a mutual understanding of the disputed issues, but equally important to identify the emotional impact which both have related to the dispute. The fact issue will most often be an economic (business matter)

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Skepticism as a Useful Tool

On May 27, 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, Will & Trusts West Des Moines  
legal sceptic evaluation

I am not suggesting that one must be a skeptic but rather that constructive doubt is useful in my profession.  I need to have an understanding of the differences among (1) what I think, (2) what I believe, and (3) what I know. With regard to thinking, it involves the development of a process by which I gather information.  It is being open-minded, being non-judgmental and does not evaluate the information or documentation assembled. With regard to what I believe, it involves looking at the information and the documentation assembled and sorting through the information and documentation to analyze which

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Options for Distribution of Personal Property

On April 27, 2016   /   Elder Law West Des Moines, Estate & Trust Administration, Estate Planning West Des Moines, Will & Trusts West Des Moines  
distribution of personal property

A question that always comes up when I meet with new Will clients is how to handle distribution of one’s personal property. One option is to direct your executor to divide your personal property equally among a group of individuals.  The Will can provide that the executor makes the decision as to what property goes to what individual or can provide that the individuals decide among themselves as to what property goes to what individual.  Both options can cause problems. If a child is also acting as executor, the decisions made by said child on how to distribute personal property

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Answers on Iowa’s Final Disposition Act

On February 19, 2016   /   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  
caring for the body after death

In the course of managing the estate for yourself or a loved one, the specifics surrounding disposition is often confusing. Iowa law provides detailed answers, but after the death of an individual, family members and friends are often concerned with consoling one another and paying respects to the deceased. Burial, cremation, and other details need to be fully defined through proper estate planning procedures. For your convenience, we’ve put together a comprehensive overview of the Iowa Code for Disposition. Chapter 144C of the Iowa Code, which was enacted in 2008, sets forth the Final Disposition Act which allows a person

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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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