Printer Friendly Version

Successions

Planning for the Future

Certainly, one of the most stressful and emotional times in one's life is during the passing of a loved one. Proper planning through creating Wills and Trusts is necessary to greatly reduce the stress in dealing with property left behind when a loved one passes away.

It is human nature that many people do not take the time to have a Will drafted or they think they do not own enough property to need a Will.

Louisiana law does have a statutory scheme by which property is distributed if and when a person dies without a Will, but there are complications caused by some of Louisiana laws. All persons, no matter the size of their estate, would do well to discuss a Will with an attorney and make decisions about this issue, rather than leaving the entire fate of their estate to the State of Louisiana and whatever laws may be in force at that given time.

A simple Will is not an expensive document and can provide families with much needed certainty in the turbulent times of the passing of a loved one. Furthermore, there may be tax ramifications that would cause your estate to be reduced by unnecessary estate taxes if a Will is not prepared properly, etc.

Most often, a person's main concern about passing away is what will happen to the surviving spouse. In order to make certain your spouse is cared for during their lifetime and that your property is distributed in such a way that provides security for your loved ones, it is necessary to understand Louisiana law regarding successions and make a Will that amends Louisiana law as necessary to provide the type of security you have in mind for your spouse. The only way you can amend Louisiana law is by having a Will drafted that legally sets forth your wishes such that your Will, instead of Louisiana estate law, will be enforced by a Court after your passing.

All that said, for a very modest fee in most cases, you can make certain that you have planned properly for the future to do everything possible to reduce estate taxes, care for your loved ones, and ensure that your property is distributed according to your wishes.

Call and set up a free consultation to discuss your needs and options.