Fayette County Leader from Fayette, Iowa on September 21, 1961 · Page 7
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September 21, 1961

Fayette County Leader from Fayette, Iowa · Page 7

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Location:
Fayette, Iowa
Issue Date:
Thursday, September 21, 1961
Page:
Page 7
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Whose Farm /; Tne Mystery Farm? Fayette Leaded " ~ Page 7 Sept. 21, 1961 Fayell«, Iowa tors. If no heirs arc found through this method, the property goes to the heirs of the inte- state's deceased spouse (or spou- ces), determined according to the same method. If no heirs are thus found, the property "escheats" to the state of Iowa. That is, the state takes the property, sells it and uses the proceeds for school purposes. Real property located in Iowa and personal property are distributed under the same rules. As jfar as possible, debts of the deceased and his estate's administration expenses are paid first from 'cash on hand and proceeds fnam ithe sale of personal property, i Thus real property, is left intact as long as possible, and evt-ry ef- •'fort is made to avoid the neces- isity of selling the property and Distributing the proceeds. Free copy of mystery Farm picture to owner For making identification The picture above was taken of a farm somewhere in Fayette county, in the vicinity of the town of Fayette. The mystery farm pictures are p series sponsored by the Fayc .te Leader for the interest of its many readem. If the owner of the farm pictured above will stop in at the Leader office ha will receive free of charge a 5 x 7 glossy print of the picture. There is nothing to buy. All that is asked of the owner is a little information so that tne farm picture may be identified for the public the following week. Have you checked Your will lately? An Iowa farmer who had died, leaving no will, had assumed that all his property would go to his wife, who would use it for herself and their several small children. •But under Iowa laws of descent the wife received only one-third of his estate. The other two- thirds belonged to the children, but because they were minors, a legal guardianship had to be set up until they became of age. A guardian had to be appointed by the court to manage the property and court authority had to be obtained every time there was occasion to deal with the property or spend any of the children's money. Ti.o results were additional expenses and inconveniences- -one example of what can happen when the head of a family fails to plan for distribution of his property an;l thus loaves this distribution to the rigid and inflexible laws cf descent, point out researchers in the Agricultural Law Center at the State University of Lowa, who have completed a study of the planning of farm property transfers in Iowa. The Agricultural Law Center is maintained by SUI in cooperation with Iowa State University of Science and Technology, Ames and the U. S. Department cf Agriculture to do research on the economic arul legal problems of Iowa agriculture. "•Everyone has particular desires about the distribution of his property en death," the report continues. "The laws of descent are not based on individual desires. Thus the statutory scheme- of property distribution is seldom the best plan- -it just fills the gap when someone fails to make piuper-ty transfer plans before he dies." Often the statutory scheme results in consequences in complete conflict with the decedent's desires. For example, a husband died intestate (without a will), leaving a wife but no children or close relatives. He supposed his wife'would receive everything he left. But under the statute, his wife received the first $15,000 and then only half of everything above that amount." The other half was distributed up through ancestors and down to their defendants; that property went to relatives he never even knew ex- sisted, rather than to his own widow. In general, Iowa law sets up an order of precedence, spouse, children, parents, and then other relatives. For example, if a person dies leaving children but no spouse, the property goes to the children in equal shares. If any of the children are dead, their shares go to their descendants. When no spouse or children are left, all of the property goes to the parents of the deceased in equal shares. If only one parent is alive, all goes to that parent. If both parents are dead, the property goes to the intestate's brothers and sisters in equal shares. If a brother or sister is dead, the share of that brother or sister goes to his or her children. If there are no brothers or sisters, or if they died without leaving children, the property goes to the blethers and sisters of the inte- state's parents (intestate's uncles and aunts), or if they are dead, to their children (intestate's cousins). ; In other words, the property owned by the person who • dies without leaving a will and without leaving a spouse or children is divided among his direct, ancestors and then distributed to the living decendants of tthese ances- FAYETTE THEATRE Friday and Saturday Sept. 21 - 22 - 23 ELIZABETH TAYLOR ROCK HUDSON GIANT Warner Color Sun - Mon - Tues Sept. 24 - 25 - 26 WILLIAM HOLDEN NANCY KWAN THE WORLD OF SUZIE WONG In Technicolor Are you getting all you can from your permanent pastures ? Our "custom-blended" fertilizer puts protein and , * profit back in your pasture CONTROL YOUR PASTURE PROTEIN IN GRASSES AND LEGUMES TO DESIRED PERCENTAGE In a controlled experiment on low phosphate soil, 100 pounds of phosphate raised crude protein from 16.4% to 19.3% and increased legumes from 45% to 57%. These increases permit lowering protein in cojjv feed from 13 % to about 10%. Thiyneans a Cash Savings of $10.00 per ton of mixed feed by using less concentrate. nc-v.J Now is the time to top-dress your permanent stands of grasses and legumes. A complete "custom-blended" fertilizer, high in nitrogen content, can double your fora S e and triple the protein content, according to recent tests by the University of Wisconsin. Figure this increase against the protein feed it replaces and you'll sec It pays to wi "custom-blended" fertilizer. Hero's how our pi'ogi^.u works: AFTER A SOIL TEST shows jast want your j>-> •!'.!)• to produce top feed values— WE "CUSTOM-MIX" just the riffht balance of (<". nitrogen,* phosphate and potash in LaiU quauJly V'- a "^ for a, complete application. Thaue rmteriald nro properly mixed to assure even distribution without sepanuic.i. YOU SAVE the cost of bags and hngginc, an-1 I'-J work of handling and rehandling bags. YOU GET a uniform, high-analysis plant for l.iu f.c flowing granules. One easy application givos j out A —un exactly what they need to mako top yields. ' Give us a call, or better yet... stop in an,l talk to next time you're in town. •Monianta E-2® Ammonium Mitral* FAYETTE, IOWA Whatever You may Be lookin; For — find it In the TIE LEADER ALL PROGRESSIVE MER. CHANTS USE THE PAGES OF THE FAYETTE LEADER TO DISPLAY THEIR STOCK OF MER- CHANDISE FOR SALE. USE THE LEADER AS YOUR SHOPPING GUIDE IN FAYETTE. Contact us for All of your Job printing Needs LETTERHEADS ENVELOPES CARDS STATEMENTS BOOKLETS PAMPHLETS YOU NAME IT — Fayette Leader PHONE ll-R-2

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