Estate planning in Metairie, Louisiana is simply the act of deciding what you want to happen to your assets after your death. It normally entails making plans about funeral arrangements, as well as plans for end of life care.
One of the first things an estate planner will ask you about when you come to them for assistance is what you want to put in your will. A will is a document which says who is going to get your property after your death. Once it is proven valid, a will is binding, meaning that the beneficiaries get legal ownership of whatever is left to them. Obviously, if you have any interest in what is done with your property after you die, a will is going to be at the center of your estate plan. Nonetheless, it is rarely the only part of a solid estate plan.
For instance, a seasoned estate plan will include a living will, which gives your family members and healthcare professionals instructions about your medical care, to be followed in the event you become incapacitated. You should also include your funeral arrangements, and your preference with respect to organ donation.
For anyone who has children who are still minors, it is very critical to make arrangements for their custody and care, just in case the unthinkable occurs. You should think of a family member or extremely close friend who you know would be willing and able to take care of your children, and designate them as the person who would take custody. Of course, it's essential to discuss this matter with that person before you really do it.
What Type of Estate Plan Do I Need in Metairie, Louisiana?
The answer to this question varies largely on your goals and priorities, as well as your age, health, and the amount of assets you have.
If you are young and unmarried, estate planning likely doesn't need to be on your radar, unless you are very ill, independently wealthy, or perhaps if you work in a very hazardous job, such as the military.
If you're not married in Metairie, Louisiana, but have a life partner, estate planning is necessary. If you want your partner to be treated as your spouse, your estate plan should make arrangements to give him or her power of attorney in the event that you become incapacitated. Furthermore, your will should precisely name your partner as a beneficiary, if you want them to inherit any of your assets.
Individuals who are elderly and/or have a massive amount of money in Metairie, Louisiana are probably more in need of an estate plan than almost anyone else. Most people place a lot of value in the peace of mind that comes when they know that the people they love, or the causes they care about, will be taken care of after their death. Of course, nobody likes to confront the facts that this process always contains, but it's imperative.
Do I Need a Metairie, Louisiana Estate Planning Attorney?
Because estate planning in Metairie, Louisiana is not always simple, the assistance of a seasoned attorney will almost certainly be useful, and worth the cost. This is doubly true because of how critical the issues involved can be, and the fact that a relatively minor mistake can sometimes derail an entire estate plan.