{"id":12387,"date":"2022-01-17T09:48:58","date_gmt":"2022-01-17T15:48:58","guid":{"rendered":"https:\/\/johnsonwim.com\/?p=12387"},"modified":"2022-01-17T09:48:59","modified_gmt":"2022-01-17T15:48:59","slug":"iowa-fiduciary-services-part-4-estate-planning","status":"publish","type":"post","link":"https:\/\/johnsonwim.com\/iowa-fiduciary-services-part-4-estate-planning","title":{"rendered":"Iowa Fiduciary Services Part 4: Estate Planning"},"content":{"rendered":"\n

The COVID-19 Pandemic has changed the nation\u2019s perspective on many things, and estate planning is definitely one of them. Here’s why planning for the unexpected has never been more important.<\/strong><\/p>\n\n\n\n

Chances are you\u2019ve spent plenty of time pondering how much money you\u2019ll have available at retirement. But what have you done to plan for your estate? The sad truth is that most of us \u2014 some 70% of adult Americans \u2014 have neglected to write a will. However, COVID-19 has significantly increased the demand for estate planning. Caring.com\u2019s 2021 Wills and Estate Planning Study<\/a> found that middle- and older- aged adults are less likely to have a will now than they were just one year ago, while younger adults are 63% more likely to have one this year than they were pre-pandemic.<\/p>\n\n\n\n

Shockingly, 18-34 year-olds are now 16% more likely<\/a> to have a will than those in the 35-54 age group. The younger generation was also the most likely to cite COVID-19 as the reason they started taking estate planning seriously. While Estate Planning<\/a> is something we know we should do, we somehow manage to postpone until later in the future. The more we postpone planning, the more we could potentially pass over an important opportunity to protect the lifestyle you’ve worked hard to create.<\/p>\n\n\n\n

Many people might feel they can wait until they become seriously ill, old or infirm to decide on how to divide their assets, set up a trust or legally decide whom to leave the house to. It\u2019s better to plan ahead and utilize an Iowa Fiduciary to help you plan for any scenario with estate planning. Here\u2019s what you need to know and how to create an estate plan in the state of Iowa.<\/p>\n\n\n\n

What Makes A Good Estate Plan?<\/strong><\/h4>\n\n\n\n

Many people believe that if they have a will, their estate planning is complete, but there is much more to a solid estate plan. A plan that is tailored to your family\u2019s specific needs – with clear instructions and limited uncertainty – is the best way to make sure that your assets, savings, jewelry, car and home are distributed to the people you want to receive these items. <\/p>\n\n\n\n

A good plan should be designed to avoid probate, save on estate taxes, protect assets if you need to move into a nursing home, and appoint someone to act for you if you become disabled. A lot of times people assume they can simply download a document online, when in reality, it’s more complex than meets the eye.<\/p>\n\n\n\n

To help avoid family confusion, stress and conflict after your passing, first begin by gathering the following documents for your Fiduciary:<\/p>\n\n\n\n