Plan Your Estate With Long-Range Thinking
Thorough estate planning can help ensure that your assets are distributed according to your wishes after your death. You may also minimize taxes and fees and provide for the needs of your loved ones through thoughtful estate planning.
At Clary | Suba | Neale, we offer full-service legal counsel and representation. Many clients have told us over the years that ours is the only law firm they need. Estate planning is one of the areas of the law that a great many of our clients ask for. Since 1993, our firm has been a solid resource for estate planning by Baton Rouge area residents. We are attentive, well-prepared estate planning attorneys who provide answers, documents and guidance that our clients need in this area of the law.
Some Components Of A Comprehensive Estate Plan In Louisiana
We are confident that you will have greater peace of mind after putting the following tools and documents in place.
- A will is a legal document that outlines how your assets should be distributed after your death. It can also name guardians for minor children and specify other important instructions, such as funeral arrangements. In Louisiana, a notarial will is the most common type of will, requiring a notary and two witnesses.
- A durable power of attorney allows you to appoint someone to make financial and legal decisions on your behalf if you become incapacitated or unable to make decisions for yourself. This document can help ensure that your bills are paid and that your affairs are managed while you are out of commission, either temporarily or indefinitely until your death.
- A health care power of attorney allows you to appoint someone to make medical decisions on your behalf if you are unable to make them for yourself. This document can also specify your wishes regarding life-sustaining treatments such as blood transfusions, pain medication and end-of-life care.
- A living will is a legal document that specifies your wishes regarding end-of-life care and treatment. It can provide guidance to your health care power of attorney and health care providers in case of any uncertainty about what you would want when your medical condition is in a state of distress.
- A trust is a legal entity that can hold assets for the benefit of beneficiaries. Through trusts, you may enable your family to avoid probate. Trusts may also minimize estate taxes and provide for the needs of minor or disabled beneficiaries. Louisiana recognizes several types of trusts, including revocable living trusts, irrevocable trusts and testamentary trusts.
- Beneficiary designations are important for life insurance policies, retirement accounts and other assets to ensure that they are consistent with your estate planning goals. A simple omission can make a huge difference to your family.
- Estate tax planning may help your family minimize taxes and fees after your death. For example, you might decide to start a family corporation to prevent estate tax liability. In 2021, Louisiana estate tax applied to estates valued at over $5.49 million.
Your will and any trusts that you establish are important foundations for your estate plan. It’s important to work with an experienced estate planning attorney in Louisiana to ensure that your estate plan is tailored to your specific needs and goals.
Consult With Us, Baton Rouge Estate Planning Attorneys
We are here for you, ready to help you design, complete or modify your estate plan in Louisiana. If you have moved here from out of state, gotten married, become a parent, started a business or gotten divorced, this is an excellent time for an estate plan review.