HF 2125 — A bill for an act relating to probate by the distribution of decedent’s property by affidavit, requiring certain affirmations in the affidavit, and including an applicability provision. (Formerly HSB 500.) Effective 7-1-18.

House File 2125 - IntroducedEnrolled HOUSEHouse FILEFile 2125 BYAN COMMITTEEACT ONRELATING JUDICIARY (SUCCESSOR TO HSBPROBATE 500)BY ATHE BILLDISTRIBUTION FOROF AnDECEDENT’S ActPROPERTY relatingBY toAFFIDAVIT, probateREQUIRING byCERTAIN theAFFIRMATIONS distributionIN ofTHE decedent’sAFFIDAVIT, propertyAND byINCLUDING affidavit,AN requiringAPPLICABILITY certainPROVISION. affirmations in the affidavit, and including an applicability provision.

TLSBSection 5193HV1. (1) 87 asf/rj H.F.

2125 Section 1.

When the gross value of the decedent’s personal property that would otherwise be distributed by will or intestate succession is or has been, at any time since the decedent’s death, twenty-five fifty thousand dollars or less and there is no real property or the real property passes to persons exempt from inheritance tax as joint tenants with full rights of survivorship, and if forty days have elapsed since the death of the decedent, a successor as defined in subsection 2 may, by furnishingHouse anFile affidavit2125, preparedp. pursuant to subsection 3 or 8, and without procuring letters of appointment, do any of the following with respect to one or more items of such personal property:

2 furnishing an affidavit prepared pursuant to subsection 3 or 8, and without procuring letters of appointment, do any of the following with respect to one or more items of such personal property:

(3) That the gross value of the decedent’s personal property that would otherwise be distributed by will or intestate succession is, or has been at any time since the decedent’s LSBdeath, 5193HVtwenty-five (1)fifty 87thousand -1-dollars asf/rjor 1/4less H.F.and there is no real property or the real property passes to persons exempt from inheritance tax as joint tenants with full rights of survivorship.

2125 death, twenty-five fifty thousand dollars or less and there is no real property or the real property passes to persons exempt from inheritance tax as joint tenants with full rights of survivorship.

(6) If applicable pursuant to subsection 2, paragraph “a”, that the attached copy of the decedent’s will is the last will of the decedent and has been delivered to the office of a clerk ofHouse theFile district2125, courtp. in accordance with Iowa law.

3 of the district court in accordance with Iowa law.

Upon receipt of an affidavit under subsection 3 and LSBreasonable 5193HVproof (1)under 87subsection -2-5 asf/rjof 2/4the H.F.identity of each successor seeking distribution by virtue of the affidavit, the holder of the property shall disclose to the affiant whether the value of the property held by the holder is, or has been at any time since the decedent’s death, twenty-five fifty thousand dollars or less.

2125 reasonable proof under subsection 5 of the identity of each successor seeking distribution by virtue of the affidavit, the holder of the property shall disclose to the affiant whether the value of the property held by the holder is, or has been at any time since the decedent’s death, twenty-five fifty thousand dollars or less.

Sec.House File 2125, p.

4 Sec.

EXPLANATION______________________________ The______________________________ inclusionLINDA ofUPMEYER thisCHARLES explanationSCHNEIDER doesSpeaker notof constitutethe agreementHouse withPresident of the explanation’sSenate substanceI byhereby thecertify membersthat ofthis bill originated in the generalHouse assembly.and is known as House File 2125, Eighty-seventh General Assembly.

This______________________________ billCARMINE amendsBOAL probateChief CodeClerk sectionof 633.356 to allow for the distributionHouse ofApproved decedent’s_______________, property2018 by______________________________ affidavitKIM inREYNOLDS estatesGovernor as large as $50,000.

Under current law, only property in estates that are $25,000 or less are able to be distributed by affidavit.

The bill changes the affidavit requirement to require the affiant to attest the property is valued at $50,000 or less.

The bill also adds components to the affidavit that the successor must furnish to the holder of the decedent’s property in order to collect money, receive tangible personal property, or have evidences of intangible personal property transferred under Code section 633.356.

The affidavit must indicate that there is no debt owed to the department of human services for LSB 5193HV (1) 87 -3- asf/rj 3/4 H.F.

2125 reimbursement of Medicaid benefits;

or if there is, it will be paid to the extent of funds received pursuant to the affidavit.

The affidavit must also indicate that there are no inheritance or other taxes owed to the department of revenue, or if there are, they will be paid to the extent of funds received pursuant to the affidavit.

Finally, the affidavit must indicate that creditors, if any, will be paid to the extent of funds received pursuant to the affidavit.

The bill applies to estates of decedents dying on or after July 1, 2018.

LSB 5193HV (1) 87 -4- asf/rj 4/4