Iowa families sometimes must be prompted to work on their estate plans. In many cases, they are afraid of what they perceive is the level of effort required to draft an estate plan. However, being methodical and prepared can make it much easier to get this plan in place.
Much of the work happens before pen is put to paper. The biggest step in the process is sitting down and figuring out what the family’s goals are and who needs to be taken care of with the estate plan. In other words, planning is the most important part of an estate plan. The problem is that many families do not want to begin the actual work because they may also be afraid of discussing their own mortality. However, an investment of time and money now can spare a family from stress and an expensive legal battle if there is no estate plan in place when it is necessary.
Education is another important part of preparation. Oftentimes, families just simply do not understand the estate planning process and the options that are available to them. Sometimes, just a little bit of homework can go a long way towards giving families peace of mind to start tackling the process. Estate planning is not as complicated as many think.
An estate plan is something that must be drafted and periodically updated depending on changing life circumstances. Hiring an estate planning attorney is one way to gain the confidence to begin work on this critical process. The attorney may help educate their client and counsel them as to the various options available to them in their estate plan. The lawyer’s help could be a vital part of getting the underpinnings of the estate plan in place along with documents that are executed correctly.