Louisiana residents know hurricane season brings more than just heavy rain and high winds. Each year, families prepare their homes and gather supplies, but many overlook another critical safeguard: their estate plan. Having your legal documents in order before a storm hits can protect not only your property but also your loved ones.
Here are several estate planning steps to take before the next storm season.
Review Your Will and Trust
Hurricane season is a reminder to revisit your estate plan. If you already have a Last Will and Testament or a trust in place, verify that the information is up to date.
- Have there been new births or deaths in the family?
- Did anyone get married?
- Did you acquire or sell property?
Any of these changes may require an update. In Louisiana, where forced heirship laws apply, it is especially important to ensure that your will complies with state requirements.
Confirm Your Power of Attorney and Healthcare Documents
In the chaos of an evacuation or a sudden medical emergency, a power of attorney (mandate) can make all the difference. This document allows a trusted person to manage your financial affairs if you are unable to do so.
Equally vital is a health care power of attorney (mandate for health care) and a living will. These documents make your medical wishes clear and allow someone you choose to make decisions if you are incapacitated. Without them, your family may face unnecessary stress during an already difficult time.
Protect Important Documents
When a hurricane threatens, physical documents are at risk of water damage or loss. Store originals such as wills, trusts, powers of attorney, property deeds, and insurance policies in a waterproof and fireproof safe.
Many people also choose to keep a copy with their attorney or in a secure digital format. Having easy access to these documents after a storm can help speed up insurance claims, banking transactions, and succession matters.
Review Beneficiary Designations
Certain assets, such as life insurance policies and retirement accounts, transfer directly to the beneficiary named on the account. They do not pass through succession.
Review these designations to confirm they reflect your current wishes. Outdated beneficiary forms are one of the most common estate planning mistakes, and hurricane season is a good time to review and update them.
Plan for Digital Assets
Today, much of our financial and personal lives is stored online. Ensure that your executor or loved ones are aware of how to access important digital accounts, including online banking, insurance portals, and family photographs. A list of usernames and passwords kept securely can prevent frustration later.
Plan for Property Succession
If your home or other property suffers hurricane damage, ownership may become an issue during the insurance recovery process. Succession planning ensures that your assets are transferred smoothly in the event of your passing.
In Louisiana, succession laws are unique and can be complex. Having a clear estate plan in place helps avoid confusion and allows your family to focus on recovery instead of dealing with legal disputes.
Communicate With Your Family
A well-prepared estate plan is only effective if your loved ones are aware of its existence and understand your wishes. Take time before hurricane season to talk openly with your family. Explain where important documents are stored and who to contact in the event of an emergency. These conversations often ease anxiety and prevent disagreements later.
Contact Us Today To Learn More
Preparing for hurricane season means more than boarding up windows. It means safeguarding your family’s future through careful estate planning. By reviewing your will, updating powers of attorney, protecting important documents, and communicating your wishes, you can face storm season with greater peace of mind.
The attorneys at Losavio & DeJean, LLC help Louisiana families prepare for life’s uncertainties, including natural disasters. If you would like assistance updating or creating an estate plan before the next storm season, our team is here to guide you through the process. Contact us today to learn more.