Metairie Estate Planning Lawyer

Metairie Estate Planning Attorney

An estate plan is a set of documents that plan the future of your estate, how your loved ones are cared for after your passing, and your own care near the end of your life. These plans provide useful instructions and peace of mind no matter your age or wealth. However, establishing these protections only works if they are legally enforceable. A Metairie estate planning lawyer helps you determine what documents can address your needs and ensures that the plan is legally valid.

About 51% of Americans in a recent survey said they need a will but don’t yet have one, and 7% of Americans said they do not need a will, even though it is estimated to take on average five months longer for an estate to settle without one.

Meticulous and Dedicated Estate Planning Guidance in Metairie

Estate planning in Metairie brings unique complications. Louisiana state and local laws are exceptionally complex, and estate planning covers tax law, property law, and estate law. Securing legal support for this process is necessary to be successful and craft an estate plan that meets the unique needs of your estate and your loved ones.

At Broussard Law, our team can help you identify your goals for an estate plan and meet those goals with comprehensive or simple estate plans. We have decades of legal experience and focus on providing compassionate and diligent legal care.

For some, it can be overwhelming to consider the potential for incapacitation or death. Planning for this is important to protect your loved ones and your estate. Let our firm help you navigate this plan and pull together the documents that support your financial and personal interests.

Understanding the Common Documents in an Estate Plan

The most simple estate plan determines the distribution of your assets in the succession process, while a more comprehensive estate plan may avoid succession entirely. While each individual’s estate plan may have unique documents, some of the most common in Metairie include:

• Last Will and Testament: A will is the most basic and fundamental document in an estate plan. In Louisiana, a will is also called a notarial testament. Your will outlines the heirs to your estate and the payment of your debts. A will may also state your preferred guardian of any minor children or dependents you have.A will is the most basic and fundamental document in an estate plan. In Louisiana, a will is also called a notarial testament. Your will outlines the heirs to your estate and the payment of your debts. A will may also state your preferred guardian of any minor children or dependents you have.A will is the most basic and fundamental document in an estate plan. In Louisiana, a will is also called a notarial testament. Your will outlines the heirs to your estate and the payment of your debts. A will may also state your preferred guardian of any minor children or dependents you have.Your will must be in writing, dated, and signed in the presence of two witnesses and a notary to be enforceable. These parties must also sign the will. There may be other requirements depending on your local laws. If your will does not meet these requirements, the court will determine it is invalid. Then, your estate will be distributed based on state laws. It is important that your will is legally valid and that it clearly addresses your wishes.
• Trust: An estate plan can also include one or more trusts. A trust is unique to a will because it is a legal entity. If you are incapacitated or die, the ownership of the trust passes to the trustee. Because the assets you place in the trust are always under the ownership of the trust and trustee, the assets do not pass to the state’s jurisdiction and succession. By using trusts in your estate plan, you can keep most or all of your estate from entering succession. Succession can cost your heirs a lot and be a lengthy process. Trusts can immediately bestow your assets to your beneficiaries and limit the costs they must pay. You can also have specific trusts for unique situations, such as protecting assets for minor children or designating assets for specific uses.
• Power of Attorney: A power of attorney document that is included in an estate plan is typically a durable power of attorney, meaning that it takes effect if you become incapacitated. The document puts someone you name in charge of specific decisions. There are numerous types of powers of attorney for your medical care choices, your legal decisions, and your finances. This helps you put someone you trust in charge of your affairs when you cannot manage them.
• Living Will: A living will or advance medical directive determines your preferences for medical care in advance and is used in a situation where you are unable to make those decisions. A living will may be used by your healthcare power of attorney to make decisions. The directives may outline your pain management wishes, spiritual beliefs, and end-of-life medical choices.

FAQs About Metairie, LA Estate Planning Laws

Broussard Law: Navigating Your Estate Planning Goals

The team at Broussard Law can help you create an enforceable estate plan that limits the costs and conflict for your loved ones and protects your own well-being. contact our firm today.