While a Last Will and Testament is not mandatory, if there is no Will, state laws, also known as laws of intestacy, will determine the distribution of a deceased person’s assets. Unfortunately, this may not align with the decedent’s last wishes or desires, which is why creating a Will is often recommended. To learn more about these documents and how they can help you, in the below blog post, we will provide a comprehensive overview of how a Will can be beneficial to have in Louisiana. 

last will and testament

What Is a Will?

A Will is defined as a legal document that expresses how a person wants their assets and property distributed after they pass away. By having this document, individuals will be able to indicate exactly how they want their estate handled after they are gone, which can ensure that loved ones honor their wishes.

The Benefits of Having a Will

Although there are many benefits to having a Will, some of the top reasons that individuals obtain these documents include the following: 

Saves You Time

Almost all estates have to go through the probate process to start the distribution of assets. However, when you have a Will, you can help minimize the time and costs involved with the process and make it easier for your loved ones to ensure your wishes are fulfilled. 

Decide Who Gets Your Assets and Property

Creating a Will is an important step in deciding how your property will be distributed after your death. It enables you to specify who will receive certain assets and also allows you to assign the remaining property to individuals of your choice. Furthermore, a Will can be used to ensure that certain people, such as an ex-spouse, do not receive anything.

Name a Guardian For Your Children

As a parent, having a plan for your minor children is important in case something should happen to you. That is why many people use a Will to name a guardian responsible for caring for their children’s needs after they are gone, including providing food, health, education, and housing. If you do not designate a guardian, the court will choose one for you, which may not align with your preferences.

Help Settle Family Disputes   

If you have complex family relationships or dynamics, it is often recommended that you create a Will. This is because when you pass away without leaving a Will, your family members will have to make assumptions about your final wishes. This may lead to disagreements, create friction, and even result in fights. However, creating a Will can help eliminate any guesswork and provide clarity to your family members regarding your final wishes.

Contact Losavio & DeJean, LLC To Get Started On Your Will

If you are considering creating a Will or want more information about the process or how a Will can benefit you and your situation, contact Losavio & DeJean, LLC today and find out how our firm and experienced estate planning attorneys can help you.