Case Study 4 - The surviving spouse’s share

Answers for Iowa Residents

The following answers are based upon Iowa law as of October 2004. The laws in other states may be different. Laws are subject to change, so please ask your attorney for answers to specific questions.

1. Assume that Joe and Sarah own their home as community property. If Joe’s will leaves the home to their three children, and he dies before Sarah, the children will inherit the home.

Iowa Answer: False.

2. If Joe and Sarah own everything with a right of survivorship, Joe is wasting his time writing a will.

Iowa Answer: False.

3. If Joe dies before he can write his will, Sarah will inherit:

Iowa Answer: A.

All of Joe’s property.

4. Joe can disinherit Sarah by leaving her $1 under his will.

Iowa Answer: False.

5. The following options can be successful in disinheriting a spouse:

Iowa Answer: F (B, C, and D).

B. Prenuptial agreement.

C. Post-nuptial agreement.

D. Failure of surviving spouse to claim elective share within time allowed.

6. Assume that Sarah convinces Joe of her undying love and devotion. Under his will, Joe can leave Sarah at most:

Iowa Answer: A.

All of his property.

7. If Sarah inherits the maximum amount of property allowed by law under Joe’s will, how much will be exempted from federal estate tax at Joe’s death, if he dies in the year 2003? (Joe’s gross estate is valued at $5 million.)

Iowa Answer: C.

$5 million.

8. If Sarah inherits the maximum amount of property allowed by law under Joe’s will, she can skip most of the probate process in Iowa.

Iowa Answer: True.

9. Assume that Sarah inherits the maximum amount of property allowed by law under Joe’s will, and by the year 2008, the value of her estate is $10 million. Also assume that Sarah is seriously injured in a car accident in January 2008. She is diagnosed as being in a persistent vegetative state and could be kept alive by feeding tubes for years. Her living will states that she does not want to be kept alive by extraordinary means or by feeding tubes if she is diagnosed in this condition. In spite of the huge medical costs, her children will have financial motivation to keep her alive for several years.

Iowa Answer: True.

Return to Advance Directives Case Study 4.

View the Communicate Your Advance Directives for Health Care learning lesson.

Credits

Adapted for use in the Legally Secure Your Financial Future: Organize, Communicate, Prepare program.

Content Development by:
Anne E. Hensley
Advised by: John R. Baker, J.D.,
Staff Attorney, Iowa Concern Hotline,
Administrator of Beginning Farmer Center, Iowa State University Extension.

This information is provided as a public service and is designed to acquaint you with certain legal issues and concerns. It is not intended to be a substitute for legal advice, nor does it tell you everything you may need to know about this subject. Future changes in the law cannot be predicted, and statements in these materials are based solely on the laws in force on the date of release noted on this page.

This document is for non-profit educational purposes only. This document may not be used by a profit-making company or organization. When used by a non-profit organization, appropriate credit must be given to the Cooperative Extension Legally Secure Your Financial Future: Organize, Communicate, Prepare education program. Materials for this program were developed by a team from six land-grant universities. The program is included in the program toolkit of the Cooperative Extension Financial Security in Later Life national initiative. For more information go to: http://www.csrees.usda.gov/fsll.