Estate Planning Lawyer Des Moines IA
Reaching out to an estate planning lawyer in Des Moines, Iowa, is the best way to ensure your family knows how to handle your estate after your death. An estate is an important legacy for those you leave behind, and while it may seem like the end of the road for you, it’s just the beginning for those who will be sorting through your assets, debts, and other belongings.
An estate planning lawyer can help you establish guidelines and instructions for your family, friends, and other beneficiaries after your death. If you care about providing the best future possible for those you’ll leave behind, it’s always a wise decision to get in touch with the right legal help. Once you establish a will or living trust, you can rest easy knowing your family will know what to do when you die. But what happens if you don’t leave any instructions?
Table Of Contents:
- What Is An Estate Planning Lawyer?
- FAQs Regarding Estate Planning
- Des Moines Estate Planning Law Infographic
- Do’s and Don’ts of Planning Your Estate
- Get in Touch with Law Group of Iowa
- Wills vs Trusts
- Facts to Consider When Estate Planning
- Des Moines Estate Planning Statistics
- Law Group of Iowa Des Moines Estate Planning Lawyer
- Des Moines Estate Planning Lawyer Google Review
- How To Get Started With Your Estate Plan
- Contact Our Des Moines Estate Planning Lawyers
What Is An Estate Planning Lawyer?
While you may be familiar with a Last Will and Testament, it is only one of many documents that make up an Estate Plan. Estate planning involves the preparation of any document required to transfer or protect your property at death.
An estate planning lawyer in Des Moines, IA is a legal professional who helps individuals, families, and businesses create wills, trusts, and other legal documents to protect their assets. They can also help administer estates after someone has passed away. If you are looking for peace of mind knowing that your loved ones are taken care of after you’re gone, then hiring an estate planning lawyer like the Law Group of Iowa is a wise decision.
As with any legal matter, it’s important to do your research before choosing an estate planning lawyer in Des Moines, IA. Ask around for referrals or read online reviews to find the best estate planning lawyer for your needs. Once you’ve found one, be sure to ask about their experience in this specific field, as well as their fees.
FAQs Regarding Estate Planning
1. What is an Estate Plan?
An estate plan is simply a collection of legal documents that details your wishes for how to care for your estate. It can also include your medical care wishes and expectations, should you become unable to make such decisions for yourself. An estate plan can include a will, trust, power of attorney, health care directive, and/or letter of intent.
What you choose to include will depend on your intentions for your estate plan and the specifics of your circumstances. The Law Group of Iowa can help you through the process of planning and drafting these documents.
2. Do I Really Need a Will?
Yes, plain and simple. Many people have a misconception about who needs to create a will. The truth is everyone should have one, not just wealthy, elderly people with contentious familial relationships. Traditionally considered assets like real estate and bank accounts are not the only things that can hold value. During times of grief, family squabbles can occur over anything. That can include high-value property, but it can also include your grandmother’s pasta pot or a recorded VHS tape of your 1995 summer vacation. To avoid the stress of indecision and fighting amongst surviving family members, reach out to an estate planning lawyer in Des Moines, IA, to discuss obtaining a will.
3. When Should I Create an Estate Plan?
Sooner is better than later. You likely already know that life is unpredictable, and being as prepared as possible for future inevitabilities is a good idea. Creating a will now give you and your loved one’s peace of mind. Illness and injury can occur at any age. Don’t wait until it’s too late. When you decide to take action on this important process, work with a knowledgeable estate planning lawyer in Des Moines, IA.
4. I Have an Estate Plan, Do I Need to Update It?
Probably. There is no set amount of time that you must update your estate plan, however, the general consensus is that a review should occur every three to five years. You should also consider making amendments anytime a major life event occurs. This can be a marriage, divorce, birth, adoption, move to a new state, or death of a beneficiary. You want to ensure your will or estate plan includes the most recent version of your wishes. The Law Group of Iowa can help you make adjustments to your current estate plan.
5. An Inheritance Without a Will?
A will or trust leaves important instructions behind for your family and friends, and if you don’t work with an estate planning lawyer in Des Moines, IA, to draft up these valuable instructions ahead of time, your family and friends will suffer for it. Arguing over inheritance has the potential to rip families apart and destroy relationships, and it can be extra stress on top of an already stressful situation: People are grieving, so chances are they aren’t totally thinking straight.
Additionally, if you’ve left behind a will but failed to leave proper instructions on who should be responsible for managing your estate, a probate court can choose an executor instead. This court-appointed representative is usually a spouse or other family member, but if your family has been fighting (or you had a demanding – and possibly vindictive – ex-wife or ex-husband), this can become a point of contention.
In these instances, probate (the process of managing and distributing your estate) can drag out for months, and even years. All the more reason to make sure you have the right estate planning lawyer helping you out before your death.
6. What exactly is an estate plan?
Simply put, an estate plan is a collection of legal documents that spell out exactly how you want your assets and liabilities to be handled after you die. In fact, trust can go further than that and include the details of how you want to be cared for when you fall seriously ill. These documents usually comprise a will, appoints an administrator for your estate, spell out advanced directives about your health care, grant powers of attorney, etc. The exact documents will depend entirely on your situation.
What you do want is to work with an experienced estate planning lawyer in Des Moines, IA, You want an attorney who not only knows estate law but has solid experience putting estate plans together for Iowa residents. Such a firm is the Law Group of Iowa.
They know the law and we’ve worked with many kinds of clients from those who have few assets to those who have assets not just in Iowa but all over the country and even the world.
Des Moines Estate Planning Law Infographic
Do’s and Don’ts of Planning Your Estate
Do: Create a Will
A last will is one of the most important documents you can have regarding your estate. An estate planning lawyer in Des Moines, IA, can I help you build a last will divide your property and designate a guardian for any minor children you have.
it may seem unimportant at the time, but the sooner you take care of your estate, the better off you’ll be. The Law Group of Iowa is here to help you make the best possible plans for your family after you’ve passed.
Do: Have End-Of-Life Care Plans
A living will is another extremely important document to have; it can inform your family and medical team of your last requests if you’re unable to communicate them yourself. Health care directives and advanced directives are similar documents that can also help finalize your end-of-life plans.
Don’t: Neglect Your Pets
If you’re especially close with your pets, it’s a good idea to make sure they’re included in your will. Unless you’ve specifically designated a caretaker for them, you’ll have no control over where they go or what happens to the math you pass away. They technically count as your property and are usually included in a last will.
Do: Consider a Power of Attorney
If you ever reach a point where you’re unable to speak for yourself, having a power of attorney that you trust in place can make all the difference. This person can speak on your behalf and help fulfill any requests you might have. If you don’t spring for a power of attorney, designating an executor from your family is another good option. The Law Group of Iowa can help you make the right decision.
Don’t: Forget to Revise
Once you’ve finished your last will and testament, you weren’t done; if you experience any major life changes such as a birth, death in the family, major injury, serious changes in employment or anything else in this vein, it’s important to update your will accordingly. When you do make changes to your will, make sure you do so under the guidance of an estate planning lawyer in Des Moines, IA.
Do: Seek Legal Counsel
Unless you have a background in law, chances are there are plenty of restrictions, rules, and statutes you need to follow when developing your last will. Always make sure that you’re building these important legal documents with the assistance of an estate planning lawyer in Des Moines, IA.
Get in Touch with Law Group of Iowa
An estate planning lawyer can make a huge difference in how your estate is managed after you pass away. Instead of leaving your assets and debts behind haphazardly for your family to argue over, an estate planning lawyer can help you create a will or living trust. These important documents name the beneficiaries, the assets and debts, and your instructions – and they can be an important tool for those who are still trying to make sense of your passing.
At Law Group of Iowa, we know how important it is to take as much care as possible of our loved ones – even after we die. No family should have to deal with an inadequate will, or the bitterness that can surface during arguing over property, collections, money, and other assets. Contact an estate planning lawyer in Des Moines, IA, and ensure a better future – not for yourself, but for your family and those you care about.
Wills vs Trusts
A will is a document that directs how your property should be distributed after your death. A trust is a legal arrangement in which one person (the trustee) holds legal title to property for another person (the beneficiary). The trustee manages the property for the benefit of someone else. Estate planning lawyers can help you choose between these two options, depending on your situation and needs.
Facts to Consider When Estate Planning
A will is a critical part of estate planning, but it’s not the only factor to consider. Regardless of how comfortable you may feel with your current situation, it’s important to always be planning for the future. One way to do that is by creating an asset protection plan. This involves organizing your finances in a way that protects your most valuable assets in case something unexpected happens.
Here are some other factors to think about when putting together your estate plan:
1. The type of assets you own.
When it comes to estate planning, one of the most significant things to consider is what assets will transfer to your beneficiaries after your death. While some assets, like retirement accounts and life insurance policies, are relatively straightforward, other types of assets can be a bit more complicated.
2. Your beneficiaries’ ages and financial situations.
If you have older beneficiaries, you may be more concerned about their financial situation. No matter what your beneficiary’s age or situation is, it’s significant to plan for the future. Talk to an estate planning attorney today to learn more about how you can protect your loved ones.
3. Your state’s estate tax laws.
The estate tax is a tax levied on the assets of a deceased person. Each state has its own set of rules governing who is subject to the estate tax and how much they pay. In some states, estates above a certain size are subject to the estate tax, while in others, only estates worth a certain amount are taxed. Knowing your state’s estate tax laws is important for ensuring that your loved ones don’t have to bear an unexpected financial burden after you die.
If you have any other questions about Estate Planning or would like to speak with an estate planning lawyer in Des Moines, IA, please don’t hesitate to contact the Law Group of Iowa. We would be happy to help!
Des Moines Estate Planning Statistics
According to a 2021 Gallup poll, less than half of all Americans have had a will created. Ideally, you’ll begin thinking about the disposal of your estate long before you become sick or reach old age. When you start early, you’re more able to plan not only your estate but to think deeply about the kind of legacy you want to leave. You simply don’t want to leave these important decisions to chance, and you risk that if you don’t get help in putting together an estate plan.
Law Group of Iowa Des Moines Estate Planning Lawyer
Des Moines Estate Planning Lawyer Google Review
“I highly recommend the Law Group of Iowa! Tom and Patty have worked hard together for me to make sure I got what I deserved! They always kept me informed of everything that was being handled for my case! I would definitely recommend them! Thank you!” – Samantha H.
How To Get Started With Your Estate Plan
The Law Group of Iowa is pleased to offer you a no-cost, no-obligation consultation about estate planning. In this meeting, we’ll get a feel for each other. You’ll get many of your questions answered and we’ll begin to get to know your situation. If you do decide to work with us we’ll discuss the whole process, including necessary reviews and we will have begun to have built a solid foundation for your estate plan.
To take advantage of this offer, give us a call. You’ll find our numbers at the top of most of our web pages here. Or you can go to our contact page where, in addition to our phone numbers, you’ll also find our physical addresses and an email address should you prefer that. Know too, that if necessary we can come to you.
Contact Our Des Moines Estate Planning Lawyers
Working with a qualified estate planner is one of the best legacies you can leave your family. You’re actually giving them peace of mind because they will know the details of how you wanted your estate handled. Because you’ve worked hard you want to be sure your wishes are known and followed when you pass. Chances are this will be in the form of a will or a living trust. These legal documents will mean your family and friends know what you wanted.
Specific Laws Related To Iowa Estate Planning
Estate planning is the process of planning for the distribution of your assets after your death. It is important to have an estate plan in place to ensure that your assets are distributed according to your wishes and to minimize the estate taxes that your loved ones may have to pay. There are a number of specific laws related to estate planning in Iowa. It is important to be aware of these laws when creating or updating your estate plan.
A will is a legal document that states how you want your assets to be distributed after your death. In Iowa, anyone who is at least 18 years old and of sound mind can create a will. A will must be in writing and signed by the testator (the person making the will) and two witnesses. The witnesses must be at least 18 years old and of sound mind.
A trust is a legal arrangement in which you transfer ownership of your assets to a trustee. The trustee then manages the assets and distributes them according to the terms of the trust agreement. There are many different types of trusts, but some of the most common types in Iowa include:
- Revocable trusts: Revocable trusts can be changed or amended at any time before the grantor’s death.
- Irrevocable trusts: Irrevocable trusts cannot be changed or amended once they are created.
- Testamentary trusts: Testamentary trusts are created in a will and go into effect after the grantor’s death.
- Living trusts: Living trusts are created during the grantor’s lifetime and can be used to manage assets and provide for the grantor during their lifetime and after their death.
Iowa Estate Taxes
Iowa has an estate tax, but there is a large exemption. In 2023, the Iowa estate tax exemption is $1.2 million. This means that estates valued at up to $1.2 million are not subject to Iowa estate tax. If the value of your estate exceeds the Iowa estate tax exemption, your heirs will have to pay estate tax on the amount over the exemption. The Iowa estate tax rate is 10%.
Des Moines Estate Planning Lawyer
If you are considering creating or updating your estate plan, it is important to consult with an experienced Des Moines estate planning lawyer. An estate planning lawyer can help you create an estate plan that meets your specific needs and goals, and can help you ensure that your assets are distributed according to your wishes and that your loved ones are taken care of after your death.
Law Group Of Iowa
The Law Group of Iowa is a leading law firm in Des Moines, Iowa that specializes in estate planning. We have a team of experienced Des Moines estate planning lawyers who can help you create or update your estate plan. If you are considering creating or updating your estate plan, contact us today for a free consultation.
Estate planning is an important part of any financial plan. It is important to have an estate plan in place to ensure that your assets are distributed according to your wishes and to minimize the estate taxes that your loved ones may have to pay. There are a number of specific laws related to estate planning in Iowa. It is important to be aware of these laws when creating or updating your estate plan. If you are considering creating or updating your estate plan, it is important to consult with an experienced Des Moines estate planning lawyer.
Client Review“I had the pleasure of working with Attorney Jason Yates. He is very responsive, professional and knowledgeable. I trusted him completely to help me navigate my case, and the outcome was better than I had hoped for. I recommend him to anyone looking for good representation. Thank you Jason!” Libby Hennings