Estate Planning

Helping retirees protect assets and legacy

Ensure your wishes are honored and your loved ones are supported with a clear, well-structured estate plan.

Comprehensive Estate Planning for Retirees

Coordinating finances and legacy for peace of mind

Estate planning is more than writing a will—it’s about making sure your assets are distributed according to your wishes while minimizing stress on your loved ones. At Iron Point Retirement Solutions, we help retirees create estate strategies that integrate financial planning, insurance, and beneficiary designations. Our team focuses on aligning every piece of your retirement plan to ensure a smooth transition of wealth and clear direction for your heirs. Even for modest estates, having documents such as wills, powers of attorney, and advance directives can make a significant difference. With favorable tax laws and phased-out inheritance tax, it’s the perfect time to plan ahead.

Key Elements of a Retirement Estate Plan

Coordinating documents, beneficiaries, and intentions

Wills and Living Trusts

A will outlines your wishes for asset distribution, while a living trust can help avoid Iowa’s probate process and make transfers simpler for multiple beneficiaries. We help you determine which approach best suits your estate and family situation.

Powers of Attorney and Directives

Financial and healthcare powers of attorney allow trusted individuals to act on your behalf if you become unable to make decisions. We also discuss living wills and advance directives to ensure your healthcare preferences are documented.

Beneficiary Designations

Life insurance policies, annuities, and retirement accounts often bypass a will, making accurate beneficiary designations critical. We review these with you to avoid conflicts and ensure they match your overall estate plan.

Coordinating Financial Products

Properly structuring annuities, life insurance, and retirement accounts can support liquidity and legacy goals. We ensure these tools work in harmony with your legal documents.

Iowa-Specific Planning Factors

Iowa’s lack of estate tax and elimination of inheritance tax by 2025 benefit most retirees, but we also consider federal thresholds and the state’s probate rules to tailor recommendations.

Why Estate Planning Is Essential in Retirement

Protecting your wishes and easing the burden

Clarity for Your Loved Ones

A clear estate plan removes uncertainty and helps your family carry out your wishes without added stress.

Efficient Transfer of Assets

Coordinating wills, trusts, and beneficiaries ensures your assets are passed on smoothly and efficiently.

Integration With Your Retirement Plan

Aligning your estate plan with your financial and income strategies provides a complete picture for your future.

Common Questions About Estate Planning

Helping retirees create clear and effective plans

  • Do I need an estate plan if I’m retired?

    Yes, every retiree should have an estate plan, even if their estate is modest. Without one, state laws determine how your assets are distributed, which may not align with your wishes. A plan ensures your intentions are clear, minimizes legal hurdles, and provides guidance for your loved ones. We help you understand what documents are essential and coordinate them with your financial strategy.

  • What is the difference between a will and a trust?

    A will outlines your wishes but typically requires probate, which in Iowa can take time and add costs. A living trust allows assets to pass directly to beneficiaries without probate, providing more privacy and efficiency. The right choice depends on your estate size, family dynamics, and goals. We help you weigh these options and coordinate with legal professionals as needed.

  • How do beneficiary designations impact my estate plan?

    Beneficiary designations on accounts like IRAs, 401(k)s, and life insurance override what’s written in your will. Keeping them updated after major life changes is critical to avoid conflicts. We review these designations to ensure they align with your overall estate plan and help prevent common mistakes that could unintentionally disinherit loved ones.

  • Does Iowa have an estate or inheritance tax?

    Iowa has fully phased out its inheritance tax by 2025 and does not have a state-level estate tax, which is good news for most retirees. However, very large estates may still be subject to federal estate tax. We incorporate these state and federal considerations into your planning to maximize the assets passed to your heirs.

  • What role does Iron Point play in estate planning?

    We are not attorneys, but we work to ensure your financial and insurance strategies support your estate plan. This includes aligning beneficiary designations, structuring retirement accounts for legacy goals, and connecting you with trusted Iowa estate planning attorneys when needed. Our goal is to integrate your estate plan with your retirement strategy for a comprehensive approach.