§ 635.8 — Closing by sworn statement

Iowa § 635.8

• Jurisdiction: Iowa
• Title XV: JUDICIAL BRANCH AND JUDICIAL PROCEDURES
• Ch. 635: ADMINISTRATION OF SMALL ESTATES

Text

1. The personal representative shall file with the court a closing statement and proof of
service thereof to all interested parties within a reasonable time after the expiration of all
times following all notices required in chapter 633. The closing statement shall be verified
or affirmed under penalty of perjury and shall include all of the following statements and
information:
a. To the best knowledge of the personal representative, the gross value of the probate
assets subject to the jurisdiction of this state does not exceed the amount permitted under
section 635.1.
b. The estate has been fully administered and will be distributed to persons entitled
thereto if no objection is filed to the closing statement and the accounting and proposed
distribution within thirty days after service thereof.
c. An accounting and proposed distribution explaining how and to whom the probate
assets will be distributed including an accurate description of all the real estate of which the
decedent died seized, stating the nature and extent of the interest in the real estate and its
disposition.
d. Notice to all interested parties that the parties have thirty days from the date of service
of the closing statement in which to request a hearing by filing an objection with the court.
e. A statement that all statutory requirements pertaining to taxes have been complied
with, includingwhetherfederalestatetaxduehasbeenpaid, whetheraliencontinuestoexist
for any federal estate tax, and whether inheritance tax was paid or a tax return was filed in
this state for a death occurring before January 1, 2025.
f. A statement that all statutory requirements pertaining to claims have been complied
with and a statement describing the resolution of all claims, including charges, and whether
a lien continues to exist on any property as security for any claim.
g. The amount of fees to be paid to the personal representative and the personal
representative’s attorney with the appropriate documentation showing compliance with
subsection 4.
2. If no actions or proceedings involving the estate are pending in the court thirty days
after service of the closing statement to all interested parties as provided in section 633.40,
the estate shall be distributed according to the closing statement.
3. The clerk shall close the estate without order of the court and the personal
representative shall be discharged upon the earlier of either of the following:

a. Filing an affidavit of mailing or other proof of service of the closing statement and filing
proof of asset distribution, including receipts and other evidence of disbursement.
b. Sixty days after the filing of the closing statement and an affidavit of mailing or other
proof of service thereof.
4. The fees for the personal representative shall not exceed three percent of the gross
value of the probate assets of the estate, unless the personal representative itemizes the
personal representative’s services to the estate. The personal representative’s attorney shall
be paid reasonable fees as approved by the court or as agreed to in writing by the personal
representative and such writing shall be executed by the time of filing the report and
inventory. All interested parties shall have the opportunity to object and request a hearing
as to all fees reported in the closing statement.
5. If a closing statement is not filed within twelve months of the date of issuance of a letter
of appointment, an interlocutory report shall be filed within such time period. Such report
shall be provided to all interested parties at least once every six months until the closing
statementhasbeenfiledunlessexcusedbythecourtforgoodcauseshown. Theprovisionsof
section 633.473 requiring final settlement within three years shall apply to an estate probated
pursuant to this chapter. A closing statement filed under this section has the same effect as
final settlement of the estate under chapter 633.

Legislative History

[C75, 77, 79, 81, §635.8; 81 Acts, ch 199, §9]