Protecting your Future With Estate Planning
At the office of McMahon, Stowater, Laddusaw & Buske, we bring more than 120 years of combined legal experience to individuals throughout northwest and north-central Iowa.
Our firm was formed in 2010, when two long-standing firms joined forces. One of our partners has more than 50 years of practice experience, and we have second- and third-generation attorneys at our firm. We bring our extensive experience and team-minded approach to bear on every case.
Our Estate Planning and Probate Practice
We offer comprehensive services in estate planning and probate administration and can help you and your family establish an effective estate plan. We regularly work with executors and administrators who need assistance settling the estate of a loved one.
When it comes to helping you prepare for your estate planning needs, we are extremely detail-oriented. We take the time to examine all aspects of your life, financial situation, and current and future goals. Doing this allows us to empower our clients to make the decisions that are right for them. We can help you with estate planning issues that include wills, trust, lifetime gifts, and retitling of assets, and will help you understand any tax implications. As your attorneys, we will make sure all paperwork, filings, and plans are executed as outlined in your estate plan.
When executing a will or trust agreement, as part of your global estate plan, we often set up durable and general powers of attorneys, to ensure you are in good hands in the event something were to happen to you.
Your Role And Tasks When You Are An Executor
If you have been named as an executor or administrator of the estate of a loved one, we will help you complete all the steps necessary to close the estate. We will help you get officially appointed to handle the estate and will assist you with all matters, including:
- The preparation and filing of an accounting of the assets of the estate
- The notification of all creditors and other interested parties
- The valuation of estate assets, if necessary
- The preparation, filing and payment of estate or inheritance taxes
- The payment of all final debts and expenses of the estate
- The orderly distribution of assets in accordance with the provisions of the will
Frequently Asked Questions About Iowa Estate Planning
Estate planning allows you to make informed decisions about your future and the people who rely on you. The questions below address common concerns Iowa residents have when creating or updating an estate plan.
What happens if you die without an estate plan in Iowa?
When someone passes away without an estate plan, Iowa’s intestacy laws determine how property is distributed per a fixed order of inheritance. Unfortunately, this may not reflect their personal preferences and can create delays or disagreements among family members.
Without careful instructions, loved ones may face additional stress as they navigate the process required to settle the estate. In many cases, the outcome differs significantly from what the deceased would have preferred.
Do I need an estate plan if I do not have many assets?
Yes. Even those with modest assets benefit from having an estate plan in place. These arrangements allow you to name beneficiaries and designate someone to handle financial matters if you become incapacitated. It can also clearly outline your preferences for medical care.
A solid estate plan provides clarity for your loved ones and helps ensure important matters are handled per your wishes rather than default legal rules. Planning in advance can also prevent unnecessary complications by giving your family the needed guidance during an already difficult time.
How often should I update my estate plan?
Your estate plan should be reviewed periodically, at least every few years, to confirm it still reflects your goals and circumstances. Additionally, major life events such as marriage, divorce, a new child or grandchild and significant changes in assets signal that an update may be necessary.
Regular reviews help keep your documents accurate to continue protecting the people and assets that matter most. Revisiting your plan every few years can also help ensure it aligns with any changes in Iowa law.
Can I create an estate plan without a lawyer in Iowa?
Yes. It is possible to create certain estate planning documents on your own, but doing so carries meaningful risks. Iowa has specific legal requirements for wills, powers of attorney and other documents. Mistakes and inaccuracies can lead to invalid provisions or unintended outcomes.
Working with our law firm helps ensure that your plan complies with state law, addresses your unique needs and provides strong protection for your family and your estate. Legal guidance also helps reduce the likelihood of confusion about your final wishes and may prevent future disputes.
Contact Our Office
We provide a confidential consultation to every client. To schedule an appointment with an experienced Algona estate planning attorney, contact our office by e-mail or call us at 888-571-6584. We are open during traditional business hours and will set up an evening or weekend meeting upon request.