Iowa Code 633.425 – Classification of debts and charges
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In any estate in which the assets are, or appear to be, insufficient to pay in full all debts and charges of the estate, the personal representative shall classify the debts and charges as follows:
1. Court costs.
Terms Used In Iowa Code 633.425
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Charges: includes costs of administration, funeral expenses, cost of monument, and federal estate taxes. See Iowa Code 633.3
- Costs of administration: includes court costs, fiduciary's fees, attorney fees, all appraisers' fees, premiums on corporate surety bonds, statutory allowance for support of surviving spouse and children, cost of continuation of abstracts of title, recording fees, transfer fees, transfer taxes, agents' fees allowed by order of court, interest expense, including but not limited to interest payable on extension of federal estate tax, and all other fees and expenses allowed by order of court in connection with the administration of the estate. See Iowa Code 633.3
- Debts: includes liabilities of the decedent which survive, whether arising in contract, tort, or otherwise. See Iowa Code 633.3
- Decedent: A deceased person.
- Estate: means the real and personal property of either a decedent or a ward, and may also refer to the real and personal property of a trust described in section 633. See Iowa Code 633.3
- Personal representative: includes executor and administrator. See Iowa Code 633.3
- State: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, a federally recognized Indian tribe, or any territory or insular possession subject to the jurisdiction of the United States. See Iowa Code 633.701
- United States: includes all the states. See Iowa Code 4.1
2. Other costs of administration.
3. Reasonable funeral and burial expenses.
4. All debts and taxes having preference under the laws of the United States.
5. Reasonable and necessary medical and hospital expenses of the last illness of the decedent, including compensation of persons attending at the decedent’s last illness.
6. All taxes having preferences under the laws of this state.
7. Any debt for medical assistance paid pursuant to section 249A.53, subsection 2.
8. All debts owing to employees for labor performed during the ninety days next preceding the death of the decedent.
9. All unpaid support payments as defined in section 598.1, subsection 9, and all additional unpaid awards and judgments against the decedent in any dissolution, separate maintenance, uniform support, or paternity action to the extent that the support, awards, and judgments have accrued at the time of death of the decedent.
10. All other claims allowed.