Partition In Kind Difficult In Iowa
The Iowa Supreme Court latest ruling seems to make it very difficult to divide a farm by a partition in kind. The court strongly favors a sale.
That means you'd better not count on your kids dividing your property - you'd better do it yourself first.
Re: Partition In Kind Difficult In Iowa
correct me if I am missing something--- the article is not clear.
But who should or would let the courts make the partitioning decision? Or is this trying to give the courts the ability to change every disputed estate plan on the basis of fairness ( or equallity under the dollar)?
If not ---- then it encourages a business owner to address the secession planning. Which might be a good thing..
Does Iowa protect the right of the owner to determine his eventual estate distribution (the change of ownership)? Or does it have an "equal breaking up of all assets not corporately owned?
Stock and cash can always be distributed evenly........ but not "fairly" or wisely....