It’s never easy planning ahead for the inevitable, but doing so can save your loved ones from unnecessary stress following your death. Whether you’re struggling with a terminal illness or are simply looking to plan for the future, it’s crucial for Iowa and Nebraska residents to seek proper legal services when establishing their wills or trusts.
Peters Law Firm provides comprehensive services for helping Iowa and Nebraska families plan for life after their death. Contact our team to get started preparing your last will and testament today.
Advantages of Establishing a Will or Trust in Iowa & Nebraska
Without a will in place, the loved ones you leave behind will be left to determine how assets are distributed on their own. By establishing a last will and testament now, you can reap the following benefits:
- Maintain control over your assets and property until your death
- Provide detailed information about who gets what and when
- Nominate a guardian for minor children
- Create a trust fund for minor children
- Establish who will be the administrator of your estate
- Avoid bonds
- Lower taxes
Confronting death can be a scary and uncomfortable process. However, doing so now can save your loved ones from unnecessary strife in the weeks and months following your departure. If you’re interested in creating a last will and testament to ensure the safe and stress-free transfer of your assets to the desired parties, contact Peters Law Firm to get started today!
Frequently Asked Questions About Wills & Trusts in Iowa & Nebraska
It’s understandable for those unfamiliar with the process to have questions about establishing a last will and testament. Below are some of the most frequently asked questions regarding the process that can help you better understand what to expect.
What happens if I don’t have a will?
Depending on which state you live in, the absence of a will can be handled very differently. In Nebraska, a person who dies without a will invokes the laws of intestacy. This means that your surviving spouse will inherit your entire estate unless you also have children with that spouse. In these circumstances, your spouse will inherit the first $100,000 as well as half the balance. In Iowa, any property that is not transferred via a will, joint ownership, trust, or designation of beneficiary is handled by Iowa’s probate laws.
How can a will be revoked?
A will may be revoked by either creating another will or canceling your will with the intent to revoke it.
When should I change my will?
Wills should be reviewed and changed if the following circumstances apply:
- You have second thoughts about who will inherit your assets
- You get married or divorced
- Your beneficiaries die or fall seriously ill
- The size of your estate changes dramatically
- You purchase property in another state
- Laws change regarding tax, property, trust, or probate
- You relocate to another state
Is a last will and testament legally required?
A last will and testament is not legally required; however, having one can help loved ones avoid the strict laws of intestacy or probate. Therefore, it’s highly recommended that a last will and testament be established prior to time of death.
Contact Peters Law Firm to Establish Your Will Today
Don’t wait until it’s too late to establish your will. Peters Law Firm has helped countless families plan for their futures by preparing their last will and testament. Contact our team to get started today.