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Happy Halloween from Gordon Fischer Law Firm

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The Scary Tale of What Makes a Will Valid

What makes a will valid? To begin, you are asking the entirely wrong question! [Cue evil sounding mwahahahaha.] You must ask a more specific question, what makes a will valid in Iowa. After all, every state can and does have different laws for a will’s validity, as well as for probate, trusts, and so on.
Iowa law has several requirements (sometimes called "formalities") which must be present for a will to be legal and binding. If you miss even one formality–yes, even one!–you run the risk of your will being declared “dead.” Forever dead and invalid…which sounds like a nightmare for your loved ones.
  1. In Writing (Can be Blood or Ink)
    • Iowa law requires a will to be in writing. That means any oral statement of the decedent doesn’t count. This is true even if the oral statement(s) relate(s) directly to naming people who should inherit specific property. (Note that there’s a teeny tiny exception to this for gifts causa mortis. But, these are super specific, situational, limited, and rare.) Even a statement about passing of property recorded by audio or video cannot constitute a valid will.                   

  2. Testatrix or Treat?
  3. Two Witnesses to Tell the Tale
    • Two witnesses to the will’s signing are also required. The person making the will, in the presence of the two people acting as witnesses, must declare the document is his/her will and request the two people sign the document as witnesses. Then the witnesses must sign in the presence of each other, and in the presence of the testator/testatrix.                                                                                        
  4. Bearing Witness
Want to know four more will requirements? Click Below!
Click Here to View Four More Will Requirements
As always, I appreciate you as a reader and invite you to share this monthly newsletter with someone who may enjoy it! -Gordon Fischer

Check out this adorable retro Halloween Throwback of my brothers and me! Do you follow me on Social Media? Enjoy both silly pics and substantive content! I'd love to have you join my social sphere!
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GoFisch Featured Blog Post:

SPOOKTACULAR SAVINGS ON PROBATE FEES

Forget the scariest movies of all time, did you hear the unnerving tale about the will admitted to probate? Frightening stuff! Some folks are surprised, even shocked, to learn that a will doesn’t avoid probate, but it doesn’t. Whether you die intestate (no will), or even with a will, your estate must pass through Iowa probate court. If you have an estate plan (including a will) this process is much more smooth and simple for your loved ones, because you’ve clearly told them, and the court, how you want your property dispersed. But, even with a basic estate plan, there is still a judicial process. (Plus your will becomes public record when it goes through probate.) The only practical way to avoid probate is through a revocable living trust. The “living” part of this means a trust that is established and funded by you during your lifetime.

Click Here to Read More About "Revocable Living Trusts"

No Such Thing as Too Compliant:
Free Nonprofit Policy Guide

Qualified nonprofit organizations don't file taxes, but they do need to file the annual information return, Form 990, with the IRS. Form 990 serves as a check to make certain nonprofits are still qualified for the highly coveted tax-exempt status. To that point, Form 990 asks nonprofits about particular policies and procedures such as conflict of interest, whistleblower, investment, and compensation (to name just a few!). These specific governance policies encouraged by the IRS limit potential abuse, protect against vulnerabilities, align with federal and state laws, and prevent activities that would go beyond permitted nonprofit activities.

If you’re a nonprofit founder, executive, board member, or even an active volunteer, downloading this guide is an excellent first step toward guaranteeing the organization you’re deeply invested in is meeting (and exceeding!) the gold standard for tax-exempt organizations! 

Free Nonprofit Policy Guide - CLICK HERE!

Stay in the Know:
Nonprofit & Philanthropy News

Dubuque family heads down with next wave of Red Cross volunteers going to support Hurricane Ian relief
-KWWL
Ukrainians in Eastern Iowa form nonprofit organization to help their country
-OurQuadCities
A local nonprofit focusing on helping youth, young adults in recovery through art expands to new location
-KCRG
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