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What’s the state of your current estate planning process?

| Jul 12, 2017 | Estate Planning |

If you read the title to this post and thought it might not apply to you because you do not have an actual estate plan in place, you are likely not the only Louisiana reader to do so. However, there’s no time like the present (as they say) to think of such things as it always takes a first idea and/or discussion to get the ball rolling. If making sure your final wishes regarding finances, assets and health care are honored is important to you, then you’ll want to keep reading.

When some people see the word estate, they automatically think of palatial mansions or properties with multiple dwelling places, outbuildings and perhaps even substantial amounts of acreage. To the contrary, not every estate is massive in size, but that doesn’t make the estate planning topic any less relevant to those with simpler lifestyles. Executing a solid estate plan can help you ensure successful transfer of property or business interests, as well as minimize taxes that will need to be paid when the time comes to administer your estate.

If you feel strongly about particular health care methods, namely what type of care you want in life or death situations where you may be unable to speak for yourself, having a set estate plan can include an advanced health care directive to make your wishes known. You can also designate another person to make decisions on your behalf. Some people go so far as to include specific wishes regarding their own funeral arrangements. 

The estate planning process is customizable. What is important to you may not be significant to another person. This is why it often helps to have an experienced Louisiana attorney review your proposed estate plan ahead of time so he or she can help you design a unique plan that best suits your particular needs and ultimate goals.

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