Disclaimer: This article is for general informational purposes only and does not constitute legal advice. Consult a qualified attorney to discuss your specific situation.
Detailed Answer
Under Iowa law, a surviving spouse may choose to take a life estate in the decedent’s real property instead of the statutory intestate share. This election affects only the spouse’s portion of real estate; it does not alter the homestead allowance, exempt property allowances, or personal property shares.
Statutory Share vs. Life Estate
By default, if an Iowa resident dies without a will, the surviving spouse receives a set share of the estate under Iowa Code § 633.231. That share generally includes:
- Homestead allowance (up to $20,000 in lieu of homestead rights)
- Exempt personal property (up to $20,000 in household goods, furniture, and vehicles)
- One-half of the remaining personal property
- One-half of the real estate, subject to adjustment if the decedent had surviving parents or issue
Election of Life Estate
Iowa Code § 633.232 allows the surviving spouse to elect to take a life estate in the decedent’s real property instead of receiving the statutory real estate share. Key points:
- Scope: The election covers only real property owned by the decedent at death.
- Duration: The spouse holds full use and enjoyment of the property during life; the remainder interest passes to other heirs at the spouse’s death.
- Effect: The spouse gains exclusive occupancy rights but cannot convey more than a life interest.
How to Elect
Iowa Code § 633.233 sets out the procedure:
- Timing: File the election within six months after the appointment of the personal representative or the date of first publication of notice to creditors, whichever is later.
- Filing: Submit a written election with the clerk of the district court in the county where probate is pending.
- Notice: Serve a copy on the personal representative and on all heirs as identified in the probate notice.
If the spouse fails to file the election in time, the statutory intestate share applies by default.
Helpful Hints
- Review Deadlines: Mark the six-month election deadline on your calendar upon appointment of the personal representative.
- Understand Costs: Election may change tax obligations and maintenance responsibilities for the real property.
- Keep Records: Maintain proof of service and filing to avoid disputes about timeliness.
- Coordinate Benefits: The election does not affect your homestead or exempt property rights—claim those separately under Iowa Code §§ 633.228–633.231.
- Consult an Attorney: A probate attorney can prepare the election form, file it correctly, and advise on how a life estate impacts your overall inheritance and estate plan.