Prairieville Estate Planning Lawyer

Prairieville Estate Planning Attorney

Most people in Prairieville have some form of property. They expect it to be passed on to their loved ones after they’re gone, but without an estate plan, there’s no guarantee that their wishes will be followed. A Prairieville estate planning lawyer can help you plan for the future with confidence.

Experienced Estate Planning Attorney in Prairieville, LA

With so many law firms to choose from, hiring an attorney can be overwhelming. The lawyer you choose should be communicative, experienced, skilled, and compassionate.

Personal attention is one of the most important things an attorney can provide. At Goode Tax and Estate Planning Law Group, LLC, we have over 40 years of experience doing just that. We understand the gravity of estate planning, and we treat it with the sensitivity and precision our clients deserve.

Estate Planning in Louisiana

Some people think of estates as luxurious properties, but any asset can be part of an estate. This is a term that refers to any piece of property you can pass on to someone else after you die.

Louisiana has something called community property. This is any type of property that’s acquired after getting married. Anything acquired outside of a marriage is considered separate property. After death, the late spouse is still entitled to half of the community property. It then becomes part of their estate.

Forced heirship is another Louisiana law that is relevant to estate plans. A child has to opt into this by claiming some of the estate for their own. Most children are not forced heirs. However, these restrictions don’t apply in every case. Forced heirship doesn’t affect your ability to make a will; it alters what happens to a portion of the property.

What Goes Into a Strong Estate Plan?

Most people are familiar with wills, but an estate plan can have many different types of documents. Additional documents include:

• Trusts. A trust can transfer assets to another person when you die. One notable benefit of a trust is that it can skip succession.
• Power of attorney. People use a power of attorney in case they become incapacitated and need someone to manage their estate. This could come into play after a serious injury or illness.
• Advance directive. Sometimes, families make medical decisions for a loved one that go against their wishes. Stating your wishes in writing ahead of time can help your family understand your desires. An advance directive can help if you’re medically incapacitated in a place like the Prairieville Family Hospital.
• Interdiction. Otherwise known as guardianship in other states, interdiction is meant to help children or disabled loved ones maintain their care if their primary caregiver is gone. In Prairieville, 29% of residents are under 18, so it’s especially relevant here.
• List of assets. If you don’t specify what assets you have, your loved ones might have to go searching for them. Making a simple list of any accounts and property you have makes it exponentially easier for loved ones to find assets.

You might know how you want your property to be distributed, but your wishes may not be followed if you fail to create a viable estate plan. About 88% of residents in Prairieville own their homes, which is more than in most areas. Even if you have few other assets, an estate plan can protect one of the most important ones: your home.

Common Mistakes and How to Avoid Them

One of the most obvious mistakes made while estate planning is not having a will. This is often seen as the foundation of an estate plan. If you don’t have a will, you likely don’t have other documents that can clarify things for your family members.

Some people try to make their own estate plans. This usually leads them to create documents they don’t understand, which may not be enforceable later on.

Mistakes can happen, even if you did everything right at the time. Laws might have changed since the time you created the will. This could lead to your family having to do more work after you pass away.

Finally, make sure that your documents make sense in the context of your entire estate plan. Sometimes, one document might contradict another.

Why Hire an Estate Planning Lawyer?

You should update your estate plan regularly, but it can be difficult to remember when the time comes. An estate plan attorney can add updates as necessary.

They can also help with the complex, detailed elements of an estate plan that most people don’t know about or understand. One important issue is with bank accounts. If the names on the account don’t match up with the beneficiaries, it could lead to trouble.

Many people make gifts to their heirs or to charitable organizations in their estate plan. Don’t assume that this money will be handled correctly. A lawyer can help you avoid issues that often coincide with gifting,

Why Choose Us?

Many people don’t think about the potential tax impacts of their estate plan. That’s why it’s so important to work with an attorney who understands tax law. At Goode Tax and Estate Planning Law Group, LLC, we’ve done estate planning law for over 40 years. Our founding attorney is board-certified in estate planning, as well as tax law.

With multiple Super Lawyers awards and an AV Preeminent peer review rating, we’re ready to create an estate plan that serves the needs of you and your family.

FAQs

Do I Need an Estate Plan if I Don’t Have a Lot of Assets?

You still need an estate plan if you don’t have a lot of assets. An estate plan covers more than just your property. It addresses medical emergencies so your family can follow your wishes if you’re incapacitated. It also allows you to name a guardian for your minor children or anyone else under your care.

What’s the Difference Between a Will and a Trust in Louisiana?

The difference between a will and a trust in Louisiana is their purpose. A will is a set of rules that guide how your estate is broken up. A trust can hold some assets, but it’s not meant to be a comprehensive look at the entire estate. A trust should be mentioned in the will to let others know it’s there.

What Happens if I Die Without a Will in Prairieville?

If you die without a will in Prairieville, intestate succession will proceed. This limits what your family can do in regard to splitting assets. The state usually controls who gets what and follows a process set by law. Some of your family members may not inherit any portion of your estate without a will explaining your wishes.

When Should I Update My Estate Plan?

You should update your estate plan every few years. Many things can change during that time. New people may be added due to marriage or a birth. Others can be removed due to divorce or death. Assets can change over time, as well as your financial situation. Finally, it’s good to review recent legislative changes that could affect your plan.

Don’t Leave It Up to Chance – Contact a Prairieville Estate Planning Lawyer

There are so many reasons to create an estate plan outside of financial security. Regardless of the number of assets you have, an estate plan can show your loved ones how much you care.

Schedule a consultation with Goode Tax and Estate Planning Law Group, LLC, to find out how we can help.