Will vs Trust in Louisiana: Which Is Right for Your Family?
A trust or a will? Which one is right for you? Are trusts only for the super wealthy? Can you avoid probate and succession proceedings with a trust? What if you want to provide for future generations or family members with particular health and educational needs? Depending upon your goals, assets and family dynamics, a trust can be a great addition to your estate plan, or even your entire estate plan.
Do I Really Need a Will If I Don’t Have Kids?
A common mistake Louisianan’s make is believing that if they do not have children or millions of dollars in the bank, they do not actually need a will. A properly drafted will in Louisiana protects so much more than children and millions of dollars — it provides peace of mind, clarity and secures the transfer of your estate (yes, we ALL have one) to the person or people that you want to receive it.
What Happens If You Die Without a Will in Louisiana?
If you die without a will in Louisiana, what happens to your property and belongings? The state of Louisiana has a plan for that, but it may not look anything like what you thought it would. Depending on whether or not you are married, or whether or not you have kids, the outcome of your intestate succession proceeding can look very different than what you had in mind for your estate and your loved ones. Even if your loved ones agree on what should happen to your property, the courts must uphold and enforce the intestate laws of Louisiana.