Please forward this error screen to sharedip-107180516. Either the page has been relocated or the address may have been entered incorrectly. Information on estate planning and probate from an Iowa attorney. Estate planning and probate seconds, I can transmit a message around the globe to one person or to hundreds of people, or I can share a photo of my dog, Georgia.
Or you can email your parents’ attorney and tell the attorney what changes to make to your parents’ estate plan to exclude one of your siblings. In Estate of Boman, decided earlier this year, the on-going feud between two sisters and their brother, plus a little “spice” mixed in with the stepmother, resulted in jury trial supporting the claim of undue influence for a will and also intentional interference of inheritance by the sisters. My job as your estate planning attorney is to do the same thing. Push you out of the plane! Adoption can be a wonderful thing.
My niece, in this picture, is adopted and she is a wonderful addition to our family. However, adoption can have some funky applications in the estate planning world. To avoid paying inheritance taxes for a bequest to a non-lineal descendant, a nephew was adopted by his aunt. Even though he was adopted by his aunt, the son’s biological mother was still able to include an inheritance for her son. The first point is not all that unusual and I have advised clients of this very option. Basically, whether you are adopted or biological, as a child in Iowa, you do not pay any inheritance tax when you inherit from your parents.
The second point is for a little more on the advanced side. One of the trade-offs of getting adopted is that once you are adopted, you are normally cut-off from adopting from your biological side. So, if your rich aunt adopts you, and then the next month your mother wins the lottery and dies from a heart attack, you don’t get to share in the lottery winnings as you are no longer your mother’s child. You are your aunt’s child, essentially, and you can only have one set of parents. For example, if the biological parent had said “I leave my millions equally to my children”, then the adopted son would not have received the inheritance from biological mom. Moral of the story: You can have your cake and eat it, too. Sometimes, after one ends, another marriage begins and several challenges begin.
You have the challenges of “mixing” families together, learning about snoring patterns, and discovering a new person. You also frequently have the challenge of dealing with estate planning. I’ll skip the issues with snoring and focus on some of the estate planning points. Just don’t wait until you are on the way to the ceremony.
Not exactly a romantic subject and many people will steer clear of it because of the delicateness of the topic. You think we are going to get divorced! The premarital agreement can provide protection for each other, not only in the event of a divorce, but also upon the death of one of you. Frequently, second-marriage families don’t do a premarital agreement. Maybe they didn’t have much in assets when they got married or maybe they just didn’t think about it when love is in the air. Post marital” agreements are not valid in Iowa so you won’t be able to visit this topic down the road once you are hitched. We now have another option under the Iowa Code: The “Post Nuptial Trust”.
With properand carefulplanning by a knowledgeable trusts and estates attorney, we can legally draft documents to allow you to transfer that property to your children without the concern of the spousal share election “re-routing” where that property ends up after your demise. In other words, it is not necessary to wait until the principal is incapacitated before there is authority for the agent to be able to act on behalf of the principal. The POA document in this scenario simply adds another individual as an authorized party to deal with accounts or other financial interests. Thus, the principal can continue to operate as normal. The principal also has the ability to remove the agent at any time and notify any third-parties that the agent’s authority has been terminated.