Looking to the future and putting certain types of protections in place is not something to delay. The estate planning process is crucial at every stage of life as it provides the ability to control important things in case of death or incapacitation, such as outlining health care preferences and deciding what will happen with assets. An estate plan is a practical way for a Louisiana adult to protect his or her legacy and lay the foundation for a strong future for beneficiaries and heirs.
Creating a legacy through an estate plan starts with determining what one hopes to accomplish. An adult may want to care for a special needs loved one, give to charity, keep certain property or protect a family business after his or her death. Identifying the goal will clarify which estate planning tools are important for the individual situation.
Most people have a will as the foundation of their estate plan. It is also prudent to plan for potential health care needs through a living will and durable power of attorney. If the protection and specific use of certain assets and money is a primary goal, a trust may be a prudent way to accomplish these things. Every estate plan is different, custom-tailored to the individual’s unique needs and objectives.
Creating a legacy through an estate plan starts by speaking with an experienced Louisiana estate planning attorney. Experienced guidance is essential when drafting documents that will affect finances and legal rights. An assessment of the individual case can help an adult see what tools are necessary for the full amount of protection he or she deserves.
