House File 232, which was discussed in my article of last month was signed by the Governor on June 1, 2023. Said bill also amends Section 633.555 to provide that in situations where a conservator has not been appointed for a minor, property due to a minor, not exceeding the aggregate of $50,000.00, shall be…
More Legal News & Information... →On May 21, 2021, the Iowa Supreme Court issued an opinion In The Matter and Conservatorship of Marvin M. Jorgensen, No. 18-1235 (Iowa Sup. Ct. May 21, 2021). Marvin Jorgensen suffered a stroke in 2016 that left him unable to manage his nearly 18,000 acres of Iowa farmland. Prior to the stroke, Marvin leased approximately half of his farmland to his children and to several grandchildren in “handshake” agreements that were never put in writing. After the stroke, a Conservatorship was opened for Marvin and the Conservator entered into new written leases with family members which continued with Marvin’s practice
More Legal News & Information... →I have written previously in this Blog regarding the use of Medical Power of Attorneys and Financial Power of Attorneys. One of the benefits of the Health and Financial Powers is that in many cases they can be used to avoid setting up a formal Guardianship and Conservatorship with the Court. The Guardian makes medical and social decisions for the Ward and also decides on where the Ward will reside. The Conservator handles the Ward’s property and finances. Either an individual or a bank may act as a Guardian or Conservator. Guardians and Conservators are required to file annual reports
More Legal News & Information... →By James D. Beatty Many clients we meet with within Des Moines, West Des Moines, Urbandale, Johnston, Ankeny, Altoona, Carlisle and Norwalk, have an incorrect belief that their Will determines who will inherit all of their assets. Many assets do not pass under a person’s Will. For example, life insurance policies and retirement accounts are typically paid on death to the persons named on the various beneficiary designations on file with the companies. Also, accounts titled as “transfer on death” or “payable on death” will also pass on death to the beneficiaries named on the accounts. Finally, assets which are
More Legal News & Information... →Effective July 1, 2014, the Iowa Uniform Power of Attorney Act became effective. As opposed to the previous law, the new Act provides detailed provisions regarding the setup and operation of a Power of Attorney and the rights and duties of principals (the person who sets up the Power of Attorney), agents (the person who will act on behalf of the principal), and other third parties. The purpose of the Act is to further the use of a Power of Attorney to avoid the need for a setup of a formal court supervised conservatorship. Another purpose of the Act is
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