Nicaud & Sunseri Law Firm, LLC
Southshore: 504-662-9596
Northshore: 985-218-0494

Making The Complex Understandable

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Estate Planning Archives

Estate planning: Converting IRAs in a volatile stock market

There has been a sell-off taking place in the stock market recently and that could actually be good news for those planning their estates. Louisiana residents who own stocks and who are thinking about estate planning should know there are ways to turn what most view as a negative situation into a more positive one by considering the ways the market downturn might be used to increase after-tax wealth, analysts say. One opportunity in particular may be of financial help and that's the conversion of a traditional IRA into a Roth IRA.

Estate planning that keeps the peace among beneficiaries

One of the last things people want is having family members fight over their assets after they've died. Good estate planning is a primary key to ensure that doesn't happen. There is help for Louisiana residents who want to keep the peace in their families when it's time for their estate planning documents to be invoked. Knowing what a thorough estate plan includes is one way of keeping squabbles at bay.

Estate planning in Louisiana is important at every life stage

People who are busy with life, families and enjoying making memories rarely think about all that coming to a screeching halt one day. But at some point Louisiana residents should take time out of their busy lives to plan for the inevitable and that means devoting some time to estate planning. Estate plans aren't only for people in mid to late life, nor do they consist of just having a will. In fact, people in all stages of life would do well to have a comprehensive plan in place.

Wills: Do they need to go through probate to be viewed?

When a person dies, distributing his or her estate can be a complicated process. Attorneys and financial planners here in Louisiana advise people to have a will to ensure that an estate is handled in the way the deceased person would have wanted it to be. Families or other beneficiaries may need a copy of a person's will, but the method of obtaining it depends on certain factors. Wills filed for probate have to be handled differently than those that have not been filed. 

Estate planning: The merits of keeping some assets separate

There is an old adage that says don't put all of your eggs in one basket. According to some financial experts, the same could be said about the assets of each spouse in a marriage. Louisiana residents who have tied the knot, don't have to have all their assets tied together and estate planning can be reflective of that. Keeping some things separate might also be wise when planning for unforeseen events like divorce.

Opening up communication about estate planning in Louisiana

Nobody likes to talk about end of life issues. But for estate planning to be truly successful, Louisiana residents need to have heart-to-heart conversations about their plans with their loved ones. And it's not only about who will be getting what; it's also about what the individual making the plan wants regarding medical treatment when he or she is incapacitated and unable to make those decisions. There are some ways to get the dialogue going.

Special needs trusts can secure the future of a child

When Louisiana parents have a child with special needs, they may be able to provide that child with the services and medical care necessary only with the assistance of certain government programs. However, to qualify for these programs the child can only own assets with a total value under $2,000. A child may become ineligible for that critical assistance if his or her financial worth exceeds that amount, such as if the child receives an inheritance. This is why many parents create special needs trusts for their children who depend on such programs.

Too many estate plans do not have a health care directive

Many people have an estate plan that contains a will and other documentation for handling finances. They often think that this is enough, since those documents generally dictate how to handle a person's estate. However, experts say that far too many estate plans, here in Louisiana and around the country, are missing a key component. About two thirds of estate plans do not have a health care directive. What exactly is a health care directive and why is it so important?

Estate planning for the newly or soon-to-be divorced

Newly single individuals have a lot to think about. It's likely Louisiana residents who have recently divorced or separated from their partners or recently widowed aren't giving much thought to estate planning, but that may be a big mistake. Single people need estate plans as much as their married counterparts. When a spouse dies, an existing estate plan may just need updating, but if a person divorces, that's a whole different story.

Keeping estate planning a private matter in Louisiana

There are things most people would like to keep private. Estate planning is likely one of them. There are ways to keep estate plans private in Louisiana. The first thing to know is the differences between wills and trust-based estate plans. Wills have to go through the probate process and, as such, become public record once they're filed in probate court, and that means anyone can go in and ask to see the contents of any will on record.

Serving Orleans, St. Tammany, Jefferson, St. Bernard, Washington, St. John the Baptist, St. Charles and Plaquemines Parishes
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Metairie Office
3000 18th Street
Metairie, LA 70002

Phone: 504-662-9596
Fax: 504-833-2843
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7020 Highway 190 West Service Rd
Suite A-104
Covington, LA 70433

Phone: 985-218-0494
Fax: 985-624-9698
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