This bill amends probate law in Iowa by establishing a process for notifying named beneficiaries of their potential rights to property following the death of the property owner. Specifically, it requires that if a holder of property with a beneficiary designation is informed of the owner's death, they must notify each beneficiary within ten business days. The notification must inform beneficiaries of their rights and provide contact information for the property holder. The bill also defines "beneficiary designation" and outlines the requirements for beneficiaries to present an affidavit to claim property or information regarding the property.

The affidavit must include specific details about the decedent and the beneficiary, and it must be signed under penalty of perjury. The bill prohibits property holders from requesting additional personal information from beneficiaries. If the affidavit's requirements are met, the property must be transferred to the beneficiary, and the holder is protected from liability if they act in good faith based on the affidavit. Should the holder fail to comply within thirty days, the beneficiary can take legal action to recover the property or information, with the possibility of being awarded damages, costs, and attorney fees if they prevail in court.