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Losing a loved one can be a very difficult time. You might not know where to begin or what to do. The process can be very time-consuming and emotional.
Preparing an estate plan now will save your loved ones tens of thousands of dollars or more during their critical time of need, as well as minimize the tedious administrative burden they are faced with amidst their grieving process.
Your Iowa Estate Planning Attorney
Losing a loved one can be a very difficult time. You might not know where to begin or what to do. The process can be very time-consuming and emotional.
Preparing an estate plan now will save your loved ones tens of thousands of dollars or more during their critical time of need, as well as minimize the tedious administrative burden they are faced with amidst their grieving process.
What is Estate Planning?
Estate planning law involves the drafting of living wills, trusts, powers of attorney, and other documents that facilitate the transfer and management of property after death. The benefit of estate planning is that an individual is able to participate in the disbursement of their possessions and assets.
Everyone Needs an Estate Plan!
It is a common misconception that only the wealthy and/or elderly need an estate plan. This is a myth! Here are just a few reasons why young people may need an estate plan:
- Protection for Dependents: If you have dependents, such as children, it’s crucial to have a plan in place to ensure their well-being in case something happens to you. An estate plan can designate guardians for minor children, specify how assets will be managed for their benefit, and ensure they are financially supported.
- Asset Distribution Preferences: Even if you don’t have significant assets, an estate plan can specify how you want your belongings distributed. This can include personal items, bank accounts, and any other possessions.
- Healthcare Decisions: Estate planning includes documents like a healthcare proxy or a living will, which outline your preferences regarding medical treatment if you become unable to communicate. These decisions are not only relevant to the elderly but can be crucial for anyone facing unexpected health issues.
- Financial Management in Case of Incapacity: A durable power of attorney allows you to appoint someone to manage your financial affairs if you become incapacitated. This can be important for young individuals dealing with accidents, illnesses, or other unexpected events.
- Business Succession Planning: If you own a business, it’s important to have a plan for what happens to the business if something happens to you. This can involve specifying who will take over the business or how it will be managed or sold.
- Debt Management: An estate plan can address how outstanding debts should be handled, preventing them from burdening your loved ones.
Young people can benefit from having a plan in place to protect themselves, their loved ones, and their assets in the face of unexpected events. It’s a responsible and proactive approach to managing one’s affairs.
Benefits of Working With an Iowa Estate Planning Attorney
No matter what age you are or what assets you have, you can benefit from taking the time to ensure your affairs are in order. An Iowa estate planning attorney can help ensure you get the maximum benefits in your estate plan, including:
- Minimize the stress of losing a loved one by organizing the distribution of family assets such as real estate and family heirlooms as part of a comprehensive estate plan
- Protect your family from the inconvenience of a lengthy 3-12 month probate period that will bypass probate altogether
- Save tens of thousands of dollars or more by avoiding the highly expensive fees associated with probate (2.2% of the total asset value of your estate)
- Establish financial and/or medical powers of attorney
- Properly organize your estate so that your loved ones have to do the absolute minimum to carry out your Will
Creating an estate plan is easier than you think with the help of an Iowa estate planning attorney.
Contact an Iowa Estate Planning Attorney Near Me
If you are searching “Iowa estate planning attorney near me,” look no further! Shane Zisman has years of experience helping individuals in a variety of situations plan for the future. Clients typically feel a great sense of relief after we’ve strategized together to create an estate plan tailored to their personal circumstances and unique needs. For your estate planning Iowa needs, get in touch today at 641-472-5141 to schedule a free phone consultation.
