HOUSE REPUBLICAN STAFF ANALYSIS Bill: House File 2403/Senate File 2169 (Formerly HSB 581) Committee: Judiciary Floor Manager: Rep. Hess Date: March 3, 2014 Staff: Amanda Freel (1-5230)
House Committee: House Floor: Senate Floor: Governor:
PASSED on February 19 (21-0)
Probate Code Update
Updates the Iowa Probate Code regarding Testimony of Witnesses, Distribution of Property by Affidavit and Allowance or Disallowance of Claim of Personal Representative.
___________________________________________________________________________________
Section by Section Analysis Section 1 – Testimony of Witness Allows the execution of a self-proving will affidavit before or after the decedent’s death and not just after the decedent’s death. This applies to wills executed on or after July 1, 2014. Section 2 – Distribution of Property By Affidavit When gross value of decedent’s personal property is, or has been at any time since death, $25,000 or less and there is no real property or real property passes to exempt persons; -only one of the successors is required to sign and submit the affidavit; -only reasonably identifiable beneficiaries must be listed in the affidavit; -the name, address, tax identification number (instead of social security number), relationship to decedent must be provided on the affidavit for all successors; -a general description of the property is sufficient; - the holder of the property must transfer the property described in the affidavit to or for the benefit successors listed in the affidavit (not just the affiant or a few of the successors); and
of all
-these affidavits can be used to ascertain whether the value of a decedent’s property exceeds the $25,000 threshold for applicability of this statute. 1
Section 3-Allowance or Disallowance of Claim of Personal Representative Clarifies that temporary administrators are allowed to limit their reports to a simple disallowance of the claim, which will quickly defer the decision to a judge and potentially save on expenses for the estate. Section 4-Applicability Corrects Applicability code section from 2013 update. Section 5- ApplicabilityThe applicability date for the amendment in Section 1 of this bill will apply to wills executed on or after July 1, 2014 Section 6-Retroactive Applicability The applicability date should be changed from applying to estates of decedents dying on or after July 1, 2013 to wills executed on or after July 1, 2013.
___________________________________________________________________________________
Amendment Analysis
2
