Category: Estate Planning

Usufruct is a Louisiana property right that allows one person to use and benefit from property that is owned, in whole or in part, by someone else. In an inheritance, this often means a surviving spouse can continue using certain property while the deceased spouse’s descendants hold what Louisiana law calls “naked ownership.” Because usufruct...

An interdiction is a Louisiana court proceeding that moves decision-making authority over an adult, in whole or in part, to a court-appointed curator. A judge grants it only on clear and convincing evidence that an infirmity prevents reasoned decisions and that no less restrictive option will protect the person. An interdiction is a Louisiana court...

A simple trust is generally a trust that must distribute all of its income to beneficiaries each year and cannot distribute principal or make charitable contributions from trust assets. While this definition comes from federal tax law, understanding it can help you make informed estate planning decisions in Louisiana. Whether a simple trust is appropriate...

The best time to create your estate plan is before you need it. Most adults benefit from having an estate plan in place long before retirement or a medical emergency, especially after major life events such as marriage, having children, buying a home, or starting a business. Many people assume estate planning is only for...

When you create an estate plan, you people to respect that plan after you pass away. However, residents of Louisiana must navigate unique legal terrain when crafting their estate plans. One such distinctive feature is Louisiana’s forced heirship law, which can render an estate plan invalid in some situations. What should you know about this...

Life is always changing, and so should your estate plan. Think of your estate plan as instructions for what happens to your property and who takes care of you if you can’t make decisions. It includes essential papers like wills and powers of attorney. But what happens when life throws you a curveball? That’s when...

Creating your estate plan takes a lot of thought. You have to think about who you want to get your assets when you die, but that’s not all you have to consider. End-of-life planning, including setting up power of attorney designations, is also important.  A power of attorney is a document that gives someone besides...

While many people focus heavily on what to do with their assets when they’re creating an estate plan, it’s also important to think about who will help to protect their interests and their assets if they become incapacitated. Setting up power of attorney designations as part of your estate plan can address this need. There...

It is certainly wise to make an estate plan in advance. You never know exactly how long you have. You may have decades, or just a few days. Your family is protected if you have an estate plan on file, even if they don’t use it for years to come. But one of the problems...

Avoiding succession court is sometimes the goal of a testator who drafts estate planning documents. They may try to make plans that keep as many of their assets out of court as possible. They may also include special terms in their documents to prevent their family members from taking legal action during the succession process....

Choosing a suitable trustee for your trust is a pivotal decision that requires careful consideration and planning. Your trustee will play a significant role in managing your wealth and helping ensure that your wishes are carried out per the terms of the trust. Whether you’re setting up a trust for estate planning purposes or to...

When making an estate plan, testators can draft their will. A will is a legal document that instructs how the testator wishes their assets to be handled after their passing and who should benefit from the estate. However, wills are vulnerable to probate, disputes and estate taxes. To avoid these issues, people can create trusts...