Creditor Has No Claim to Wrongful Death Claim Settlement

On June 30, 2022   /   Elder Law West Des Moines, Estate & Trust Administration, Estate Planning West Des Moines, Legal Resources West Des Moines, Will & Trusts West Des Moines  
creditor claims

On June 15, 2022, the Court of Appeals of Iowa issued an opinion in the matter of the Estate of Kevin L. Barz, Brad Staley and Susan Staley, Appellants (No. 21-0563). The case involves Kevin Barz and his spouse who both died in a motor vehicle accident. The Barz’s were survived by three children who were the co-executors of the estate. The co-executors filed a wrongful death action against the tortfeasor and his insurance company. A settlement was reached with the tortfeasor for $622,264.15. The settlement provided that it “was paid solely as compensation for the individual loss of consortium”.

More Legal News & Information... →
Back to Top

Divorced Husband’s Failure to Remove Former Spouse as Beneficiary of Retirement Plan

On April 29, 2022   /   Estate & Trust Administration, Estate Planning West Des Moines, Legal Resources West Des Moines, Will & Trusts West Des Moines  
iowa lawyer for prenuptual agreement

On April 13, 2022, the Iowa Court of Appeals entered its opinion in the case of University of Dubuque v. Sharon Fairchild and Robilyn G. Cowart (No. 21-0216). Richard Cowart was employed by the University of Dubuque beginning in January of 1998. His spouse at that time, Sharon Cowart, was named as his beneficiary on his TIAA and CREF Retirement Annuity Contracts. Richard and Sharon were divorced in June of 1998. In the divorce case, Sharon signed a stipulation providing that “I, Sharon Cowart, relinquish any claim to any savings accounts, securities, retirement fund, or inheritance due to or belonging

More Legal News & Information... →
Back to Top

Iowa Court Finds Restraint On Alienation

On May 26, 2021   /   Estate & Trust Administration, Will & Trusts West Des Moines  
ia supreme court on alienation of property

On April 30, 2021, the Iowa Supreme Court issued an opinion on In the Matter of the Estate of Vera E. Cawiezell, Deceased, Phyllis Knoche, Terry Brooks, and Jill Brooks, Appellants vs. Tom Coronelli and Beth Coronelli, Appellees.   Vera Cawiezell died testate in April 2018.  Her Will was admitted to probate.  In the Will the decedent devised approximately 150 acres of farm ground to her friends, Tom and Beth Coronelli, subject to certain general restrictions in favor of Terry Brooks, the Tenant, who farmed the ground during the decedent’s life.  Item 3 of the Will provided as follows: I hereby

More Legal News & Information... →
Back to Top

Iowa Supreme Court on Gift Restrictions – Tax Insight

On January 28, 2020   /   Business Law West Des Moines, Legal Resources West Des Moines, Taxation Law West Des Moines  
laws about digital assets iowa

On November 8, 2019, the Iowa Supreme Court issued an opinion in the Matter of the Application of Coe College for Interpretation of Purported Gift Restriction.  The case involves a gift of seven paintings of Grant Wood in 1976 by the Eppley foundation to Coe College in Cedar Rapids.  The gift letter stated that the paintings would be given to the college “and that this would be their permanent home, hanging on the walls of Stewart Memorial Library”. The college treated the paintings on its books as an unrestricted gift that could be sold or otherwise alienated.  In 2016 an

More Legal News & Information... →
Back to Top

Be Wary of Transfer on Death and Payable on Death Accounts

On December 27, 2017   /   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  

The use of transfer on death and payable on death registrations for bank and investment accounts has increased dramatically.  Banks and investment firms are pushing their clients to sign the forms claiming that the forms will eliminate the need for probate administration. Chapter 633D of the Iowa Code deals with transfer on death registrations which applies to investment accounts.  The Act allows the owner to designate the beneficiary of the account in the event of the owner’s death.  The beneficiary form may be cancelled or changed at any time by the owner without the consent of the beneficiary.  The Act

More Legal News & Information... →
Back to Top

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.

More Legal News & Information... →
Back to Top

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)

More Legal News & Information... →
Back to Top

The ABLE Act (acronym: Achieving Better Life Experience)

On July 23, 2015   /   Estate & Trust Administration, Estate Planning West Des Moines, Legal Resources West Des Moines, Taxation Law West Des Moines  
able act - saving money for college

The ABLE Act referred to in last month’s blog was signed by the Governor and becomes law effective July 1, 2016. The Act authorizes the State of Iowa to create savings accounts, similar to the 529 College Saving Plans, to be created for disabled persons prior to age 26. The income earned on such accounts are exempt from Federal income tax if the money is spent for eligible services. The Treasurer of the State of Iowa is drafting the administrative provisions for the Act and will act as the depository for the savings accounts. Also, the Governor signed the Inheritance

More Legal News & Information... →
Back to Top

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

More Legal News & Information... →
Back to Top

The New Iowa Power of Attorney Act

On October 28, 2014   /   Elder Law West Des Moines, Estate & Trust Administration, Estate Planning West Des Moines, Legal Resources West Des Moines, Probate Law West Des Moines, Will & Trusts West Des Moines  
revised power of attorney act iowa

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

More Legal News & Information... →
Back to Top