Many Hollywood entertainment fans in Louisiana were shocked and saddened when former television star Alan Thicke suddenly collapsed while playing ice hockey and died from a ruptured aorta. Since his death, his sons and his third wife have been fighting over his estate. The situation may prompt some readers to be very specific and thorough when navigating the estate planning process if they hope to help their families avoid similar problems.
Some people don't like to talk about their own mortality, and they may avoid the topic as best they can. Others understand that estate planning is a valuable tool that can be be used to protect their assets, as well as make known their final wishes and instructions regarding their property, assets, medical care and financial issues. There are several common mistakes that many Louisiana residents (and others throughout the nation) make, however, that are to be avoided whenever possible.
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.
Whether a person was recently married in Lake Charles or has already celebrated several anniversaries and is fully engaged in Louisiana family life, thoughts of the future and how to protect assets and provide for loved ones has likely entered his or her mind from time to time. The estate planning process is a means to this end and can be customized to meet individual needs and goals for the future. Parents are often particularly concerned about who will raise their children if something happens that renders them incapable.
In 2006, Gertrude Feil died, leaving her children an inheritance reportedly worth billions. The problem is the siblings disagreed over several estate planning issues, such as which one of them should be in charge, as well as how profits from multiple real estate properties they inherited should be divided as time goes on. When family disagreements like this arise after an estate owner dies in Lake Charles or elsewhere in Louisiana, achieving amicable solutions can be quite challenging.
Executing a plan for protecting your assets and providing for your loved ones' future is a process that is highly customizable. Estate planning is a topic many Lake Charles residents avoid, while others understand its many benefits and begin as early as possible to prepare their own plans. Doing so often includes seeking guidance from experienced probate and administration attorneys.
Lake Charles farmers may be among many other business owners in the nation who believe succession plans are crucial toward their families' well-beings. However, for whatever reasons, many are hesitant to consider estate planning as a most viable tool in developing a secure plan. Procrastination often gets the best of many Louisiana farmers, and some say it's all about simply making up one's mind to do something, then doing it.
A particular district attorney in Louisiana is fighting hard against a woman involved in a current court case. She's accused of drunk driving and was released from jail after posting a $126,000 bond. This option is often part of the adjudication process in Lake Charles and throughout the state, and those set with bonds are free to go when they fulfill payment.
In Lake Charles and other areas of Louisiana, a surprising number of people (as appears to be the case throughout the nation) fail to protect their assets and secure financial stability for their loved ones in the event of their own deaths. Dying with no will in place can cause an avalanche of problems for adult children and other family members. Beyond the fact that many Americans simply pay no mind to estate planning, those who do often leave behind loved ones who are quite unhappy with how they chose to distribute their assets.
Life is uncertain, and it is impossible to predict what will happen or what your needs will be in the future. It can be worrisome to think about who will care for you in the future and who will make decisions on your behalf, but you have the right and the ability to make these decisions for yourself.