Estate Planning

Estate Planning for Your Family, Legacy, and Future

Estate planning is about more than distributing assets. It is an opportunity to put plans in place that reflect your values, protect your loved ones, and provide clarity during important life transitions.

At Financial Partners Group, we believe estate planning should be an integral part of a comprehensive financial planning strategy. Whether you are focused on preserving wealth, supporting future generations, reducing potential complications for your family, or incorporating charitable goals into your legacy, thoughtful planning can help provide direction and confidence for the future.

Estate Planning Strategies for Your Family's Future

Estate planning is not only for individuals with significant wealth. Families at many income levels can benefit from reviewing beneficiary designations, updating important documents, and coordinating their estate plans with retirement planning, tax planning, and wealth management strategies.

Our CFP® professionals help clients in Des Moines navigate estate planning considerations in a practical and understandable way, focusing on education, family values, generational wealth, and long-term planning.

Estate Planning Financial Education Resources

Do I need an estate plan?

Most adults can benefit from having an estate plan. An estate plan can help clarify your wishes, identify decision-makers, and coordinate the transfer of assets according to your goals.

What's the difference between a will and a trust?

A will provides instructions for distributing assets and naming guardians for minor children, while a trust can offer additional control over how and when assets are managed or distributed. Each serves a different purpose and may be appropriate depending on your circumstances.

Do I need a trust if I already have a will?

Not necessarily. Some individuals and families use both a will and a trust as part of their estate planning strategy. The right approach depends on your assets, goals, and family situation.

What happens if I die without a will?

When someone passes away without a valid will, state laws typically determine how assets are distributed. This process may not reflect your personal wishes and could create additional challenges for loved ones.

How often should I update my estate plan?

It's generally wise to review your estate plan after major life events such as marriage, divorce, the birth of a child, retirement, or a significant change in financial circumstances. Many families also benefit from periodic reviews every few years.

What is a power of attorney?

A power of attorney allows you to designate someone to make financial or legal decisions on your behalf if you become unable to do so yourself. This document can be an important component of a comprehensive estate plan.

What is a healthcare directive or living will?

A healthcare directive outlines your preferences for medical care and allows you to designate an individual to make healthcare decisions if you are unable to communicate your wishes.

How do beneficiary designations affect my estate plan?

Beneficiary designations on retirement accounts, life insurance policies, and certain other assets often supersede instructions contained in a will. Keeping these designations current is an important part of estate planning.

How do I create a legacy plan that supports my values?

Legacy planning goes beyond transferring wealth. It can include family values, charitable giving goals, educational support for future generations, and strategies designed to leave a meaningful impact on the people and causes that matter most to you.

How can I avoid probate?

Probate is the legal process of settling an estate and distributing assets after someone passes away. Depending on your circumstances, certain estate planning strategies, such as properly titled accounts, beneficiary designations, and some types of trusts, may help reduce or avoid assets passing through probate. Because laws vary by state, it's important to coordinate with qualified legal and financial professionals when evaluating your options.

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