Livingston Parish Estate Planning Lawyer

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Estate planning is critical for ensuring that what’s important to you is handled properly. These plans cover issues like how your assets are distributed, what happens to minor children, tax considerations, and even what should happen if you’re incapacitated. However, doing estate planning well so that it achieves what’s desired can be complex. It’s important that you work with a Livingston Parish estate planning lawyer who is well-versed in these areas of the law.

Carl Goode of Goode Tax and Estate Planning Law Group, LLC, is a board-certified specialist in estate planning and administration. One of only a few lawyers in the state with this distinction, he has a thorough understanding of estate planning law and significant experience in helping people put together comprehensive plans that execute all their desires.

What’s Involved in Estate Planning

Estate planning involves the use of a number of different legal tools, such as wills, trusts, powers of attorney, and living wills. These tools are used to address what should happen with your assets, children, and other important concerns in the event of your incapacitation or death. A comprehensive estate plan will make use of multiple tools in order to ensure that every critical issue is addressed. Some of the most important issues involved in an estate plan include:

  • Assets. How assets will be managed and distributed after a person’s death is whatmost people think of estate planning, and it is a critical part of the process. We will review the assets that you have, understand your objectives regarding how they should be handled, and develop a strategy aimed at those objectives. Wills and trusts play a vital role in this part of the planning. Trusts, in particular, can be critical for any assets that you would prefer to shield from the probate process.
  • Minor Children. For those who still have minor children at home, a vital part of estate planning is setting up a plan for your children if they are left without you to care for them. Getting a plan for guardianship of your children in place is critical. If you don’t have a plan in place, then you can’t be certain your children will be raised with the values and ideals that you desire for them.
  • Special Needs. Those who are responsible for caring for someone with special needs, whether an adult child or someone else under their guardianship, are often worried about what will happen when they are no longer able to care for them. A good estate plan, which includes plans for special needs individuals, is sure to create peace of mind and relief.
  • Incapacitation. While much of an estate plan will be focused on what is going to happen in the event of your death, it should also address plans for if you are incapacitated, either temporarily or permanently. Usually, this will involve giving someone power of attorney to manage your finances. You may also want to consider a healthcare power of attorney that gives someone the responsibility of making healthcare and treatment decisions if you are unable to do so.
  • End-of-Life Care. Another important consideration for someone in the course of their estate planning is how they want the end of their life handled from a treatment and care perspective. Advance directives can be used to give family and healthcare providers direction regarding your wishes for end-of-life care.

FAQs:

Q: How Much Does an Estate Have to Be Worth to go to Probate in Louisiana?

A: An estate worth more than $125,000 will need to go through probate in Louisiana. Estates that are smaller than this are considered small successions. If you have an estate over $125,000, it’s critical that you have some estate planning to ensure that your wishes are observed through the process of probate.

Q: What Is the Order of Inheritance in Louisiana?

A: The order of inheritance in Louisiana is generally based on the surviving family members. It can be complicated to identify who will receive what, but generally, the children are prioritized first, followed by a spouse, siblings, and then parents. However, there is some variance depending on factors like what the spouse needs to survive.

Q: Who Inherits Without a Will in Louisiana?

A: If there is no will in Louisiana, determining who will inherit the deceased’s assets can be a complicated issue. Generally, it will be surviving family members who are due to inherit some of the property.However, it depends on what family the deceased is survived by. The property will also need to be divided into community property and separate property before being distributed. A solid estate plancan avoid much of this complexity.

Q: Does Your Spouse Inherit Everything Automatically in Louisiana?

A: Your spouse doesn’t inherit everything automatically in Louisiana. Only in a situation where the spouse is the only surviving family member will they inherit everything. Otherwise, they automatically inherit their share of the community property. In some cases, they may also get their spouse’s community property as well, but never their spouse’s separate property unless they are the only surviving family member.

Board-Certified Help With Your Estate Planning

When you work all of your life to build your wealth and estate, it stands to reason that you want to be able to say what will happen with those assets when you’re gone. A strong estate plan can give you confidence and peace of mind regarding what happens after you are gone. Additionally, a solid estate plan will also address what happens if you become incapacitated as well.

At Goode Tax and Estate Planning Law Group, LLC, we help people put together a comprehensive estate plan that addresses all of their concerns. Carl Goode is one of only a few attorneys in the state who are board-certified in estate planning and administration. This means that when working with us, you are getting someone with a top-tier understanding of what it means to put together a strong estate plan.

If you’re prepared to make sure your estate is going to be handled according to your wishes, contact us today.

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