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.