Iowa Code 635.7 – Report and inventory — value and conversion
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Terms Used In Iowa Code 635.7
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- clerk: means clerk of the court in which the action or proceeding is brought or is pending; and the words "clerk's office" mean the office of that clerk. See Iowa Code 4.1
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Probate: Proving a will
- state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
635.7 Report and inventory — value and conversion.
1. The personal representative is required to file the report and inventory for which provision is made in § 633.361, including all probate and nonprobate assets. This chapter does not exempt the personal representative from complying with the requirements of § 422.27, 450.22, 450.58, 633.480, or 633.481, and the administration of an estate whether converted to or from a small estate shall be considered one proceeding pursuant to § 633.330.
2. The report and inventory shall separately specify which assets are probate assets subject to the jurisdiction of this state and clearly state their gross value and the sum thereof.
3. If the gross value of probate assets subject to the jurisdiction of this state exceeds the amount permitted for a small estate under § 635.1, the estate shall be administered as provided in chapter 633.
4. If the report and inventory in an estate administered pursuant to chapter 633 separately specifies the gross value of the probate assets subject to the jurisdiction of this state does not exceed the amount permitted under § 635.1, the estate shall be administered as a small estate upon the filing of a statement by the personal representative that the estate is a small estate.
5. If the personal representative files a report to convert the estate administration to or from a small estate based on the gross value of probate assets subject to the jurisdiction of this state, the clerk shall make the conversion without an order of the court.
6. Other interested parties may apply to convert proceedings from a small estate to a regular estate or from a regular estate to a small estate which the court may grant only upon good cause shown.
[C75, 77, 79, 81, §635.7; 81 Acts, ch 199, §8]
89 Acts, ch 25, §3; 2003 Acts, ch 151, §57; 2004 Acts, ch 1120, §8; 2007 Acts, ch 134, §23,
28; 2012 Acts, ch 1123, §30; 2018 Acts, ch 1140, §4, 6, 9
2018 amendment applies July 1, 2018, to estates of decedents dying on or after July 1, 2018; 2018 Acts, ch 1140, §9
1. The personal representative is required to file the report and inventory for which provision is made in § 633.361, including all probate and nonprobate assets. This chapter does not exempt the personal representative from complying with the requirements of § 422.27, 450.22, 450.58, 633.480, or 633.481, and the administration of an estate whether converted to or from a small estate shall be considered one proceeding pursuant to § 633.330.
2. The report and inventory shall separately specify which assets are probate assets subject to the jurisdiction of this state and clearly state their gross value and the sum thereof.
3. If the gross value of probate assets subject to the jurisdiction of this state exceeds the amount permitted for a small estate under § 635.1, the estate shall be administered as provided in chapter 633.
4. If the report and inventory in an estate administered pursuant to chapter 633 separately specifies the gross value of the probate assets subject to the jurisdiction of this state does not exceed the amount permitted under § 635.1, the estate shall be administered as a small estate upon the filing of a statement by the personal representative that the estate is a small estate.
5. If the personal representative files a report to convert the estate administration to or from a small estate based on the gross value of probate assets subject to the jurisdiction of this state, the clerk shall make the conversion without an order of the court.
6. Other interested parties may apply to convert proceedings from a small estate to a regular estate or from a regular estate to a small estate which the court may grant only upon good cause shown.
[C75, 77, 79, 81, §635.7; 81 Acts, ch 199, §8]
89 Acts, ch 25, §3; 2003 Acts, ch 151, §57; 2004 Acts, ch 1120, §8; 2007 Acts, ch 134, §23,
28; 2012 Acts, ch 1123, §30; 2018 Acts, ch 1140, §4, 6, 9
2018 amendment applies July 1, 2018, to estates of decedents dying on or after July 1, 2018; 2018 Acts, ch 1140, §9