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Losavio & DeJean, LLC – Baton Rouge’s Trusted Wills & Trusts Attorneys

Baton Rouge Will Attorneys

An Important Estate Planning Tool

Last will and testament

Have you started thinking about how you want your estate managed after your death? It is never too late to begin estate planning. A will is a way to legally establish your wishes for your estate. Furthermore, wills are indispensable when it comes to protecting your assets from the probate process.

At Losavio & DeJean, LLC, The Louisiana Elder Law Firm, our Baton Rouge wills lawyers have four decades of experience handling all aspects of estate planning. We can help you draft a will that is comprehensive and legally binding. When you need specialized guidance from an experienced estate planning law firm, choose Losavio & DeJean, LLC.

Why Establish a Will?

Your will determines how your assets and property are distributed after your death, according to your specific instructions, rather than the default inheritance laws of the state. In your will, you name an executor, also known as a “successor representative” in Louisiana, who you trust to carry out your wishes and manage your estate. The executor is responsible for paying final debts and distributing assets. One important aspect of your will is the option to make the executor independent, which means they can act without court supervision for certain tasks. This can significantly reduce the time, cost, and complexity of the inheritance process for your loved ones, making it easier for them to receive what you intended.

Perhaps most importantly for parents, a will is the only legal document where you can appoint a guardian for your children. This is a personal decision of great importance that you should make rather than leaving it up to a judge during difficult times in a custody hearing.

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What happens if You Don’t Establish a Will?

Without a will, your estate will enter probate and the courts will decide how your assets are distributed. A court’s asset distribution orders are based on state guidelines. Though courts generally distribute property to surviving family members, certain assets will go to the state in some situations.

Working with a skilled estate planning attorney can help you protect your estate for future generations. Having a will can put your mind at ease.

Together, we can discuss your wishes and the current condition of your estate, including issues such as:

  • The financial health of your estate
  • Any existing debts
  • Your assets and property
  • Your descendants and other family members
  • Your personal preferences for the distribution of your estate

We Are and Elder Law Firm for Seniors, Persons with Disabilities and Their Families

Since 1976, Losavio & DeJean, LLC, has offered compassionate and empathetic legal representation. With specialized knowledge in estate planning, our attorneys in Baton Rouge can provide you with the honest, trustworthy counsel you are seeking. We know that end-of-life planning can be emotionally draining and difficult to discuss.

However, we also know how much more difficult the process can be when there is no will in place. We work hard to bring clients the peace of mind that comes from knowing their estate and their families will be taken care of.

Trust Attorneys in Baton Rouge

We Can Help You Establish & Fund a Trust

Establishing a trust is an effective way to pass wealth and assets onto future generations. Trusts – both simple and complex – are an excellent way to protect your assets and ensure they are delivered to the proper beneficiaries should you become incapacitated or pass away. Without a trust, your estate is vulnerable to the time-consuming and costly probate process. At Losavio & DeJean, LLC, The Louisiana Elder Law Firm, our Baton Rouge trust lawyers can help you establish and fund the trust that is right for you.

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    Margot

Types of Trusts

There are two main categories of trusts: simple and complex. Simple trusts are required to distribute all earned income but cannot distribute its principal. Meanwhile, a complex trust can both accumulate income and distribute funds from its principal. Many people opt for complex trusts because they are often more flexible to your specific needs. A knowledgeable and skilled estate planning lawyer at Losavio & DeJean, LLC, can help you determine which specific trust is right for your situation.

Different types of trusts include:

  • Revocable living trust: The cornerstone of many estate planning strategies is to maintain control as a trustee during your lifetime. You have the ability to amend or revoke the trust and it provides seamless management of your assets in case you become incapacitated. Upon your passing, the assets in the trust avoid probate and are privately distributed by your successor trustee.
  • Irrevocable trust: Often used for advanced asset protection and Medicaid planning, a revocable living trust is a legal arrangement that can be established by a person to protect their assets and plan for long-term needs. Once created, the trust cannot be altered, but it can help to remove assets from the owner’s taxable estate, shielding them from creditors and potential long-term care expenses.
  • Special needs trust (Supplemental care trust): A vital tool to support a loved one with a disability, while ensuring that they continue to be eligible for critical government benefits such as Medicaid and SSI, this trust supplements their care, without replacing their public assistance.
  • Medicaid protection trust: A specific type of trust designed to hold assets, such as a home, to help qualify for long-term care benefits from Medicaid while preserving those assets for the beneficiary’s heirs.
  • Asset protection trust: Designed to protect wealth from potential creditors in the future, as well as lawsuits and even spouses’ claims in the event of divorce.
  • Life insurance trust: An irrevocable trust can own your life insurance policy, keeping the death benefit out of your taxable estate and providing liquidity for your heirs without income or estate taxes.

The needs of your estate and your family will help determine what type of trust you establish. Your estate planning attorney will also discuss your wishes with you and help you identify the people you want to administer and manage your estate. For example, if your primary goal is to avoid probate, your lawyer may suggest a living trust or an irrevocable trust. On the other hand, if you want your assets to go to your children, but you want to protect them from poor decision-making, your attorney may recommend a spendthrift trust where you control the beneficiary’s access to the assets.

Learn More About Estate Planning

Start Estate Planning Today

It is never too late to start thinking about the future. While discussing your end-of-life plans can be difficult, working with a skilled estate planning attorney with specialized knowledge in trusts can help.

At Losavio & DeJean, LLC, our trust lawyers in Baton Rouge are driven to provide clients with compassionate, empathetic, and honest legal counsel. In addition to trusts, we can help you with all aspects of estate planning. When you work with our estate planning team, you can be sure your needs will be put first. We are well-respected in Baton Rouge and often receive referrals from healthcare workers and other attorneys. We even have a registered nurse and case manager on staff.

Common Wills & Trusts FAQs

What is the most important reason to have a will?

A will is your legal voice after death. Its primary purpose is to ensure your assets are distributed according to your specific wishes, not according to Louisiana’s default intestacy laws. Critically, it allows you to name a guardian for minor children, choose an executor to manage your estate, and make charitable bequests. Without a will, the court makes these deeply personal decisions, which can lead to delays, added costs, and family conflict.

What is the main difference between a will and a living trust?

A will takes effect only after your death and must go through the probate court to be validated. A revocable living trust takes effect as soon as you create and fund it. It avoids probate entirely, provides for the management of your assets if you become incapacitated, and offers greater privacy. A will is essential for naming guardians, but a trust is often the superior tool for efficiently transferring assets and avoiding court supervision.

How does having an “independent executor” in my will help?

Naming an independent executor in your Louisiana will grants that person the authority to administer your estate without requiring ongoing court approval for every decision. This “independence” significantly streamlines the probate process, reduces legal fees and court costs, and allows for a faster, more efficient distribution of your assets to your beneficiaries.

When should I consider a trust instead of just a will?

Consider a trust if your goals include: avoiding probate (saving time and money for your heirs), planning for potential incapacity, managing property in multiple states, maintaining privacy (wills are public record), or controlling how and when your beneficiaries inherit (e.g., protecting assets for a young adult or a beneficiary with special needs). Our attorneys can help you decide which tool, or combination, is best.

What is a special needs trust, and who needs one?

A Special Needs Trust (or Supplemental Care Trust) is designed to hold assets for a beneficiary with a disability without jeopardizing their eligibility for vital government benefits like Medicaid or SSI. It supplements, but does not replace, those benefits by paying for additional care, comfort, and quality-of-life expenses. This is a critical planning tool for parents of children with disabilities or for anyone wishing to leave an inheritance to a disabled loved one.

What does it mean to “fund” a trust, and why is it crucial?

Funding a trust is the process of legally transferring ownership of your assets (like your home, bank accounts, and investments) into the name of the trust. A trust only controls the assets you put into it. An unfunded trust is ineffective. Our attorneys don’t just draft the document; we provide essential guidance on properly funding your trust to ensure it works as intended and achieves your goal of avoiding probate.

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