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Iowa Code (Last Updated: December 05, 2016) |
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Title XV. JUDICIAL BRANCH AND JUDICIAL PROCEDURES |
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Chapter 635. ADMINISTRATION OF SMALL ESTATES |
Section 635.7. Report and inventory — value and conversion.
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1. The personal representative is required to file the report and inventory for which provision is made in section 633.361, including all probate and nonprobate assets. This chapter does not exempt the personal representative from complying with the requirements of section 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 section 633.330.
2. The report and inventory shall show the gross value of probate assets subject to the jurisdiction of this state.
3. If the gross value of probate assets subject to the jurisdiction of this state exceeds the amount permitted for a small estate under section 635.1, the estate shall be administered as provided in chapter 633.
4. If the report and inventory in an estate probated pursuant to chapter 633 shows the gross value of the probate assets subject to the jurisdiction of this state does not exceed the amount permitted under section 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. Other interested parties may convert proceedings from a small estate to a regular estate or from a regular estate to a small estate only upon good cause shown with approval from the court.
[C75, 77, 79, 81, §635.7;
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