What Are the Basic Steps for Estate Planning in Louisiana?
– Shreveport’s Experienced Estate Attorney Weighs in
Many of us don’t think we own enough “stuff” to worry about creating an estate plan. In reality, having a comprehensive plan in place can bring you and your loved one’s peace of mind. You can also meet some of your goals, like providing financial stability after you die, and preserving your assets for future generations. You can even ensure that your favorite charity is supported.
Work with an experienced estate planning attorney in Shreveport. Talk with David L. White about establishing your family’s future so you can be assured that your family gets what you want them to have. There are many intricacies to Louisiana’s estate laws, and our team is on hand to help you navigate through each one.
4 Essential Steps Involved with Estate Planning
Before you can sign on the dotted line of your will, you need to know where to start. Here are some basic steps to point you in the right direction:
- Identify Your Goals: To get started, ask a few questions, such as:
- Are you worried about your heir’s ability to handle your wealth?
- Do you have any family members with special needs that need to be addressed?
- To whom do you want to leave your financial assets?
- Do you need to protect assets from a former spouse?
- Do you have a family business where a succession plan needs to be addressed?
- List All Your Assets: You may have more than you think. Remember to list investments, stocks, bonds, mutual funds, retirement accounts, real estate, business interests, and all your personal property. Don’t forget your life insurance policies, annuities, trusts, and joint accounts.
- Obtain the Right Documents to Accomplish Your Goals: There are a variety of documents that you may need. For example, you will need your will that directs who will receive what from your estate. Your attorney may suggest a trust to hold assets for a beneficiary. You can have a revocable or irrevocable trust, depending on the circumstances.
- Decide on Your Fiduciaries: These are the people who will execute your estate, take care of your children, or distribute assets according to the terms of your trust. Look for those whom you trust and feel will take their role seriously.
Accomplish Your Plan with Help from Estate Planning Attorney, David L. White
Take proactive steps to ensure your family is well cared for in the event of your death. With all the laws surrounding heirs, it pays to utilize the services of Shreveport’s trusted estate planning attorney. David L. White has the years of experience to help you navigate Louisiana’s succession laws so that you and your family are prepared for the inevitable. Don’t bury your head in the sand. Call us today!
Contact your estate planning attorney in Shreveport to find out more about protecting your family after you pass. Give us a call at 318-747-7023.
