Iowa Supreme Court
825 N.W.2d 1 (Iowa 2012)
Karen Myers passed away on November 2, 2009. At the time of her death, Karen had a checking account, certificate of deposit, and an annuity (POD assets). The POD assets were payable upon her death to her daughters. On November 20, 2009, Karen’s will was submitted to probate. On June 30, 2010, Karen’s husband, Howard, filed for an elective share of Karen’s estate. He thereafter assigned his right to an elective share in order to satisfy a judgment against him. On May 6, 2011, the assignees requested a determination as to whether the POD assets should be included in Howard’s elective share. The probate court held that, because Karen retained complete control over the POD assets before her death, the POD assets were part of Howard’s elective share.
Rule of Law
Holding and Reasoning (Waterman, J.)
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