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In late August 2019, twelve warranty deeds conveying Arizona real estate to a Panamanian entity called the Harris 6 Foundation were recorded on a single day. Three days later, the man who signed them got married.
The beginning of a new year is a great time to think about estate and succession planning for your farm or business. Here we consider 12 common mistakes we encounter in this area and why they matter.
This interlocutory appeal arose from a dispute over the revocable trust of Ann Winslow. The trust was established in 1991 with Ann’s only child, Robert Winslow, as the sole beneficiary.
On October 30, 2024, the Iowa Court of Appeals affirmed the district court’s dismissal of claims against a son who was financial agent for his dad when he received a gift of eighty acres from his father.
On October 16, 2024, the Iowa Court of Appeals affirmed the district court’s decision to dismiss a trust beneficiary’s claim that the bank trustee breached its duty when failing to advise the beneficiary about the power of appointment granted to h
On July 24, 2024, the Iowa Court of Appeals affirmed the district court’s denial of a promissory estoppel claim by a long-serving farm worker. In 2020, the farmer died without a will.
On June 5, 2024, the Iowa Court of Appeals affirmed the district court’s order appointing one of three brothers as the successor trustee of their mother’s trust. The case was one in a series arising from a family dispute involving the brothers.
On May 31, 2024, the Iowa Supreme Court overturned a district court’s determination that a previously dismissed party was an “indispensable party” and therefore required to remain a party until the end of the lawsuit.
The detailed facts of this case are set forth in our summary of the Court of Appeals decision. Albert Cruz and Janice Geerdes have known each other since the early 1990’s.
On April 24, 2024, the Iowa Court of Appeals affirmed the district court’s ruling that the trustee could not buy farm real estate as part of the winding-up process of the trust.
On March 27th, 2024, the Iowa Court of Appeals affirmed the district court’s ruling that a trust could not be terminated.
On March 6, 2024, the Iowa Court of Appeals found that a family settlement agreement was invalid. The agreement was executed prior to the testator’s death and two of the signers had predeceased the testator.
On January 24, 2024, the Iowa Court of Appeals ruled that a district court improperly determined that the heirs of deceased beneficiaries were to receive the deceased beneficiaries’ shares of a testamentary trust.
On January 10, 2024, the Iowa Court of Appeals affirmed the district court’s determination of when to value farmland that was subject to a testamentary purchase option.
On January 10, 2024, the Iowa Court of Appeals held that the district court improperly considered extrinsic evidence when interpreting a will. The decedent’s will directed one farm property to be held in a trust and the other farm property be evenly divided between her three children. Based on the testimony of the scrivener of the will, the district court concluded that the testator intended both parcels to be placed in the trust. Because the will was not ambiguous, extrinsic evidence was inadmissible. Thus, the Court of Appeals reversed the district court’s order.
On November 21, 2023, the Iowa Court of Appeals affirmed the district court’s decision to value farmland on the date of distribution, rather than date of death, when determining a residuary beneficiary’s inheritance.
On November 21, 2023, the Iowa Court of Appeals affirmed that Iowa’s partition law did not apply to farmland owned by a trust.
On November 8, 2023, the Iowa Court of Appeals reversed the district court’s directed verdict in a surviving spouse’s case against her husband’s estate.
On October 25, 2023, the Iowa Court of Appeals affirmed the district court’s ruling that a 96-year-old woman had testamentary capacity when she rewrote her will to disown her family and to give all farmland to charity.
On November 21, 2023, the Court of Appeals affirmed the district court’s ruling that farmland sold by a life estate holder was proper.
