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Making The Complex Understandable

Elder law: Making estate plans could benefit Louisiana residents

Each family is unique. As a result, many Louisiana families may face different concerns when it comes to how they would want their estates handled after their deaths. Therefore, individuals may wish to consider how elder law could play into those concerns and how estate planning could help individuals address particular points of interest.

First of all, individuals will likely wish to name an executor for the estate. This individual will handle a considerable amount of duties associated with the estate, and therefore, the appointed person should be responsible and willing to handle those duties. There are various aspects to consider when making such an appointment, but overall, it should be a decision not made in haste. Consulting with family members for input may be prudent for individuals who wish to determine how certain parties may handle such a position.

Of course, one of the main concerns when it comes to an estate plan is working to divide assets and plan inheritances. This area could be one of particular conflict if surviving loved ones feel that they did not inherit items that they had hoped. By making a detailed plan for asset division and beneficiaries, individuals can make their wishes known ahead of time and make changes as they see fit if it is discovered that unnecessary upset has occurred.

Leaving family members to deal with an unplanned estate after a loved one's death can be a harsh situation. Therefore, Louisiana residents may feel that creating their estate plans and making their wishes know to family is the right step for them. If so, discussing plans and concerns with elder law attorneys could help interested individuals ensure that their plans are iron clad.

Source: fdlreporter.com, "Easing the Burden: Family dynamics should be considered in estate planning", Isabell Mueller, Oct. 27, 2016

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