It is understandable that thinking about estate planning can be overwhelming and uncomfortable. It can be challenging to consider what will happen to your assets and those you care about most when you are no longer around. However, it is important to remember that estate planning is essential to ensuring your wishes and loved ones are cared for in the future. To further clarify how estate planning can help you, we have prepared the blog post below, where we will go into detail about whether you actually need an estate plan in Louisiana.
Estate Planning Helps Avoid Probate
Probate is a legal procedure your estate will undergo after you pass away. During these proceedings, the court will begin the process of distributing the estate to the proper heirs. Fortunately, when a person has an estate plan, it can help their loved ones avoid this lengthy, expensive, and stressful process.
Estate Planning Helps Prepare for Medical Issues
Unfortunately, not planning ahead for medical issues can leave a lot up to chance and put loved ones in a challenging position. These family members will be forced to make difficult decisions on your behalf, even when they are not sure what you would want under the circumstances. However, by setting up provisions in an estate plan and ensuring your desires surrounding medical care are understood, you can avoid all of these issues.
Estate Planning Helps Provide for Family Members
Preparing an estate plan can help ensure you leave everything to those you want to have your assets, including financial assets, life insurance, and personal property. Otherwise, these decisions could be left to the courts to figure out who gets what.
Estate Planning Helps Avoid Family Disagreements
A proper estate plan can help make intentions clear, reducing stress and disagreements within the family. Even if your family may disagree with the decisions, they will clearly know what you want.
What Would Happen If You Do Not Have an Estate Plan in Louisiana?
If you do not have a comprehensive estate plan, you will be leaving everything up to the courts. As a result, your loved ones may not be able to get the things you had planned for them to get. Furthermore, the court will also be responsible for appointing individuals to handle critical aspects of your estate, including:
- A guardian for minor children
- A personal representative to help oversee asset distribution.
Although this individual will often be a family member, this does not mean it is the person you would want or have chosen to take care of these crucial issues.
Contact Losavio & DeJean, LLC Today and Learn More About Estate Planning in Louisiana
If you want to know more about estate plans in Louisiana and how they could help you and your loved ones, contact Losavio & DeJean, LLC today.
Our legal team makes sure to provide our services in a caring, prompt, efficient, and cost-effective manner without losing sight of the fact that our clients have chosen us from numerous other law firms. We recognize that you have put your trust in us, and we are privileged to assist you.