Many Louisiana residents will likely leave behind some assets after they die. However, some individuals may find some aspects of estate planning intimidating and avoid the process altogether. This inaction may prove detrimental, though, as surviving family members will likely be left to sort through the remaining estate. Therefore, individuals may wish to speak with elder law attorneys who could help simplify the estate planning process.
For individuals who have blended families, it may be particularly important to have wishes recorded in legal documents. Individuals who have married more than once and have children from multiple marriages will likely want to ensure that their assets are bequeathed to the correct heirs. By utilizing beneficiary designations and keeping them up to date, individuals could name specific parties to inherit certain funds or assets.
Additionally, individuals may wish to create a trust to address their assets. A trust could help surviving family avoid probate proceedings, and individuals can have the freedom to stipulate how and when property should be divided. If parties would like to avoid possible complications of naming a spouse or child as a trustee, they may wish to appoint a professional trustee who would be responsible for attending to the trust in the designated manner.
Each family is different, and therefore, individuals who would like to get their affairs in order may wish to assess their specific family dynamics. There are various estate planning documents and options that could help individuals under a variety of circumstances. Interested Louisiana residents may wish to speak with experienced elder law attorneys who could provide insight and advice for specific cases.
Source: westseattleherald.com, “Estate planning tips for blended families”, Dec. 8, 2016