Estate Planning Myths That Could Cost Your Family in Iowa

Estate planning has a reputation for being complicated, expensive, and only for the wealthy. The truth is, many of the things people believe about wills and trusts are simply not true. Unfortunately, those myths can keep families from putting the right protections in place. Let’s debunk some of the most common estate planning myths we hear in Iowa.

Myth #1: “Estate planning is only for the rich.”

Fact: Estate planning is about more than money. It is about making decisions for your health care, naming guardians for your kids, and making life easier for your loved ones. Even if you own very little property, a will, a power of attorney, and a health care directive can make a big difference.

Myth #2: “If I have a will, my estate will not go through probate.”

Fact: In Iowa, a will must go through probate. The court oversees the process of distributing your assets, paying debts, and closing your estate. A revocable living trust, on the other hand, can help you avoid probate.

Myth #3: “I am too young to think about estate planning.”

Fact: Adults of all ages need basic documents. Illnesses and accidents can happen at any time. Having powers of attorney and advance directives in place ensures that someone you trust can step in if you cannot. Estate planning is not about age, it is about being prepared.

Myth #4: “My spouse or kids can automatically make decisions if something happens to me.”

Fact: Without a power of attorney or health care directive, your family may not have legal authority to act on your behalf. Banks, hospitals, and other institutions require official documents. Without them, your family may need to go to court.

Myth #5: “Once I make an estate plan, I never have to think about it again.”

Fact: Life changes. Marriage, divorce, new children, or buying a home are all reasons to update your estate plan. Reviewing your plan every few years keeps it accurate and effective.

Why Believing These Myths Can Hurt Your Family

Estate planning myths lead to confusion, delay, and unnecessary expense. They also put your family in a difficult position when they should be focusing on healing and support. By getting the right information and creating a plan, you save your loved ones stress and give them the clarity they need.

Take Control of the Facts

Estate planning in Iowa does not have to be overwhelming or reserved for a select few. By learning the truth and putting a plan in place, you protect yourself and your family.



At Modern Counsel, we help Iowans cut through the myths and build estate plans that actually work. Contact us today to schedule a consultation and get peace of mind for the future.