The ISBA will hold regional seminars around the state this spring to help members understand the new succession planning process mandated by Iowa Court Rule 39.18 that goes into effect on Jan. 1, 2018.
Iowa Court Rule 39.18 now requires attorneys in private practice to complete their annual questionnaire, pursuant to rule 39.11, whereby the attorney identifies the attorney’s designated representative to act in the attorney’s stead in the event of death or disability. While attorneys are no longer required to execute a written supplemental succession plan, they are encouraged to so. The Iowa Academy of Trust & Estate Counsel has prepared and is making available a form succession plan agreement.
The seminars later this spring will discuss succession planning, the new court rules and documents. In a letter to ISBA members, ISBA Past President Joe Feller, who chairs the association’s Rule 39.18 Study Committee, stated that while attorneys are no longer required to execute written succession plans for licensure, best practices dictate that attorneys get their houses in order to ensure client needs are met should they be forced to exit the practice. The document prepared by the Iowa Academy provides a template for creating a written succession plan.
More information will be provided as dates and times are scheduled.