Iowa Last Will & Testament Information
Whether you choose to leave your assets to a charitable or organisation, or your loved ones; family, friends, spouse, children or pets, it is important that you create a Last Will & Testament according to Iowa law. It can be used to protect and arrange a variety of things, but most importantly to express how assets such as your vehicles, property, business, and jewelry for example should be divided upon death.
An Iowa Last Will & Testament includes the following requirements:
- The testator must be eighteen years old or older.
- They must also be of ‘sound mind’.
- The Will must be signed by the testator or by someone else in their name (provided it is done under the testator’s direction and in their presence).
- The signing of the Will requires at least two witnesses in order to make it valid.
- Another requirement to make the Will valid is that it must be in written format.
- An Iowa resident may bequeath their assets to any beneficiaries, provided they are not witnesses in the will.
In the absence of a will in Iowa, the spouse receives the entire estate of a decedent even if there are children shared by the decedent and spouse. If the decedent has descendants who are not shared with the spouse, the spouse inherits half of the intestate real estate and at least half of the intestate personal property so long as that share is worth at least $50,000.
Click here if you have any questions about creating a last will in Iowa.