What should you not include in your Iowa will?
The list of things not to include in a last will and testament is long and varied, but some of the most frequently brought up include the following:
- Business interests
- Personal wishes and desires
- Coverage for a beneficiary with special needs
- Property in a living trust
- Retirement plan proceeds, including money from a pension, IRA or 401k
- Stocks and bonds held in beneficiary
- Proceeds from a payable-on-death bank account
- Anything you do not want going through probate, such as personal property or household items
Why should you make a will in Iowa?
Simply put, a will can help protect your family and your property. You can use a will to do the following:
- Leave your property to people or organizations
- Name a personal guardian to care for your minor children
- Name a trusted person to manage the property you leave to minor children
- Designate an executor, i.e. the person who makes sure that the terms of your will are carried out
When a person dies without a will, Iowa Code provides a surviving spouse with an exclusive right for 20 days to file with the court a petition to initiate administration of the estate. Other heirs in succession, starting with surviving children, if any, have an additional 10 days to file such a petition. For your own personal reasons, you may not want that to happen. If that is so, then you should reach out to a skilled Des Moines estate planning lawyer in order to discuss your next steps.
How can a Des Moines estate planning attorney help you?
While the Hawkeye State does not require you to engage the services of a legal professional in order to create a will, you would be well advised to do so. For instance, if you think that your will might be contested or if you wish to disinherit your spouse, you should talk with an attorney. Our firm can help you create a will that will withstand or prevent any challenges to its legitimacy. By fully apprising you of your rights and responsibilities, we will help you draft a will that meets your needs and those of your chosen heirs. This process can be time-consuming and complicated, so you can’t afford to go it alone. Please give us a call today.
Contact Our Des Moines, Iowa Firm
Herting Law, PLLC, is an Iowa-based law firm that has experience in all criminal matters, including OWIs, drug charges, gun crimes, theft, assault, and more. If you need an estate planning lawyer, our firm can guide you. Whatever the situation, Herting Law, PLLC has you covered.