Planning for the future is not something reserved only for the rich and famous. Adults of all ages will benefit from having a complete estate plan, even if they are young and believe they do not make enough money to justify the effort. Estate planning is useful for Louisiana adults of all ages, and this process can provide peace of mind regarding long-term legal and financial interests.
Every estate plan is different, but there are certain documents that are generally considered important in order to have a complete plan. The foundation of any estate plan is a will, which is a document that allows someone the opportunity to have a say over what happens to his or her stuff. A parent can also name a guardian for minor children in a will.
There are also important documents, such as a health care proxy and living will, that allow an adult to outline preferences for health care and medical decisions in the event of incapacitation. It is also possible to draft a document that names a trusted individual to make important decisions on behalf of an individual who cannot speak because of an illness, injury or medical condition.
What a Louisiana adult needs for a complete estate plan depends on his or her medical needs, financial situation and long-term goals. Adults of all ages will benefit from knowing he or she has the final say in what will happen with medical care, young children and property in case of an unexpected situation. An assessment of the individual situation by an experienced attorney can provide insight into estate planning needs.