Everyone loves ‘hacks’. From party hacks to Halloween costume hacks to garage organization hacks, if you want to simplify a project or task you can do a quick Google search or pay a visit to the Lifehacker website to find ways to effectively shortcut a complicated job. Why should that be any different for estate planning? Well, a DIY will is probably going to create more problems than it solves, but you can still simplify the estate planning process. Check out this first post in our five-part series to learn how. [Read More]
High Five: The Zen Guide to Creating a Trust
Last week, we talked about the fact that many people see estate planning as an intimidating, even scary, process – only 45% of people have had their will prepared! But we also showed you the zen approach to creating your will with the help of an estate planning expert through planning ahead, organization, communication and clarity. And, surprise, those same principles apply to creating a trust. But, while the principles are the same, the zen of trust planning can be quite different from creating a will. [Read More]
The Shocking Truth About Iowa Estate Recovery
Many people believe that they’ve protected their house/retirement/savings by adding a child to the title or creating a life estate. If you’re planning ahead for the cost of your long-term care, the nursing home’s not the one you need to worry about. It’s not Medicaid, either. Not really. The monster in the closet, the creature under the bed is the state Estate Recovery Program. For many people – including most lawyers – Estate Recovery is something straight out of their financial nightmares. [Read More]
The Proper Approach to Trust Administration in Iowa
There is a certain amount of responsibility that goes along with wills or trust administration in Iowa. For this reason, it is vital to choose someone very trustworthy to take on this important role. While some individuals will likely see it as an honor to be chosen, it can also be quite a burden, so it is highly recommended that the potential trustee be contacted in advance and asked if he or she is willing and able to take on the role.[Read More]
Estate Planning for Single Parents in Northwest Iowa
Single parents tend to work hard for their children. Every day it falls to the single parent to provide just about everything for his or her children, and with 13 million single parent households in the US, there are a whole lot of folks doing their best to provide everything their children need today. So it’s no wonder that those in Northwest Iowa want to protect the children they would leave behind should they be killed or become incapacitated. [Read More]
[FAQ]: How Do You Treat Children Fairly in Your Will and Trust?
Wills and trusts lawyers in Northwest Iowa see just about every circumstance that can result from a parent’s death. Some siblings handle the will or trust administration gracefully and with dignity while others turn to squabbling and pettiness. When we work with our clients, they are often very concerned about how to treat their children equally when setting up their wills and trusts. [Read More]
Estate Planning for College Graduates in Iowa
Now that you’ve earned your college degree, you may not feel like you have anything to “protect” through estate planning. After all, the stereotype of the “starving college student” got started for a reason! But, even if you leave college with a load of student loans and an entry-level job (or hopes of one), you will do yourself a favor by spending just a little time doing some basic estate planning here in Northwest Iowa. [Read More]
High Five: 5 Big Differences between Wills and Trusts
The most common question I get asked in our Mutual Interview is, “What’s the difference between a will and a trust?” The answer is based on the way each gets treated while you’re living and after you die. Whether you choose one or the other depends on your goals for your plan. [Read More]
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