estate planning Archives

Estate planning -- it's more than wills

Making a plan for the future is important, and creating an estate plan is just one part of that. This is why some people in Lake Charles are proactive when it comes to creating wills. But estate planning can -- and often should -- involve much more. Here are just a few components that can help round out a comprehensive estate plan.

Where trusts fit in estate planning

A will is a very important estate planning document that virtually every adult in Lake Charles should have. But what about trusts? People often think that a will is enough to meet their needs and not give estate planning another thought. Here are some benefits people miss out on when they choose to not use trusts.

Adults of Lake Charles, you should be estate planning

Planning for the end of life or unexpected medical events might not be anyone's idea of fun, but it is still necessary. And while it might not be fun, estate planning does give Lake Charles residents control over their futures even when they cannot actively make decisions. Creating an estate plan is not just for the elderly, either. Virtually every adult at any stage of life can benefit from doing so.

How to use estate planning for charitable giving

There is a lot to think about when crafting an estate plan, such as inheritances, funeral preferences and even medical wishes. But wills and trusts can also be used for much more. Creating a lasting legacy is an important function of estate planning, and gifting money or assets to an organization is an excellent way to do so.

Why unmarried couples need to think about estate planning

Marriage is usually the next natural step for people who are in committed relationships, but it is not for everyone. There are actually many couples who choose to live and build lives with one another in Lake Charles without actually typing the know. While an unmarried couple may have created a successful life together, they might not realize just how difficult some things will be should either die without an estate plan.

How to bring up estate planning during the holidays

The holiday season is the time of year when many families in Lake Charles do their best to get everyone together, even if it means traveling from out of state. From buying gifts to deciding on holiday meals, a lot of planning can go into these gatherings. But families might be missing out on a valuable opportunity to talk about a difficult topic. Although it might feel counterintuitive to talk about end of life affairs in between celebrations, this could actually be a great time to bring up wills, powers of attorney and other estate planning affairs.

College students: You need to be thinking about estate planning

College is one of the first steps into adulthood for many young people in Lake Charles. From living by oneself to navigating things like grocery shopping and laundry, college students may feel like they already have enough on their plates. However, these young adults often overlook one of the most important things that an adult can do -- create an estate plan. Estate planning might seem like something that only older adults need to worry about, but virtually everyone can benefit from creating three essential documents.

Why estate planning is for everyone

Every person in Lake Charles feels differently about his or her possessions and assets. Some people may have several items that hold significant personal or financial value that they wish to pass on to specific heirs. Others might not care so much about what happens to their belongings after they are gone. However, those who think that estate planning does not have much to offer may want to consider some of the following.

Selecting the right trustee while estate planning

Trusts can be excellent additions to estate plans. There are various types of trusts that function in different ways, and selecting the correct one to handle a person's needs or wants should be treated seriously. However, for as much time as a person in Lake Charles might spend on creating a trust during estate planning, he or she might not understand just how important the trustee is. Here are a few things to keep in mind when selecting the right trustee.

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