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Iowa Estate Planning
Most Americans have started saving for retirement, but far fewer have started thinking about estate planning. And the simple fact is that financial planning and estate planning go hand in hand. For example, there are certain strategies you can take advantage of today to help minimize the federal and Iowa taxes your estate will owe after you die. An estate planning attorney can review your estate planning needs and priorities, and help craft a plan that will help you safeguard your legal and financial future.
Estate Planning to Safeguard Your Financial Future
Your estate plan may include a variety of legal and financial tools and documents, including:
- A last will and testament
- Power of attorney
- Healthcare power of attorney and a living will (sometimes known as advance medical directives)
- A trust
- Annuities and life insurance
Which of these tools is right for you? There is no one-size-fits-all solution. In helping to recommend solutions, your estate planning lawyer will want to know more about:
- The size and nature of your estate, or the assets (such as money, real estate and possessions) you've accumulated during your life that you'd like to eventually pass on to your heirs
- How much you've saved for retirement, and whether you'll be eligible for a pension or Social Security
- How you expect to spend your retirement
- How you'd like to distribute your estate after your death, as well as your relationship to each of your heirs
- Whether you have any particular medical concerns
- Whether you have children under the age of 18
- If you're concerned about minimizing federal estate taxes and Iowa inheritance taxes
After you've discussed your worries and wishes with your estate planning lawyer, he or she can recommend specific estate planning tools and explain how those will help address your specific needs and concerns.
Find & Hire Local Iowa Estate Planning Attorneys
Attorneys.com offers a free, no-obligation service that can help you locate estate planning lawyers across Iowa, including lawyers in Des Moines, Davenport and Cedar Rapids. To get matched with an attorney today, call us at 877-913-7222 or complete the form on this page. We'll ask you a few simple questions, then quickly connect you with a local lawyer.