The idea that you need an attorney to help get your affairs in order is common. However, when it comes to things other than drafting a will, many people are unclear on the specifics of what a lawyer can actually do for them. For those in Metairie, LA, and throughout the state, an estate planning attorney can walk you through the specifics of Louisiana law and advise you of the most effective ways to make sure that your wishes will be respected and carried out. This can include working with a revocable living trust lawyer to protect your assets, addressing issues such as a contested power of attorney, or planning to transfer property through succession efficiently and according to your instructions.
How Can an Estate Planning Lawyer Help Ensure Your Final Wishes Are Carried Out?
Planning for the future is not just a wise decision: it’s necessary. However, making sure that your final wishes are carried out is more complicated than just telling your loved ones what you want. Having an experienced lawyer on your side is perhaps even more relevant in Louisiana, where the law relating to inheritance differs significantly from the other states in some key areas.
A Lawyer Can:
Draft a Valid Will
The first and most obvious way a lawyer helps carry out your final wishes is by drafting a valid will. A lawyer makes sure that your will is legally valid and does not contain any technical errors that could cause the will to be contested or declared null.
In Louisiana, a will can take one of three forms. First, and most common, is the notarial will. This is a document written, signed, and notarized in the presence of a notary and two witnesses. Second is the olographic will, which is called a holographic will in some other states. This document must be entirely written, dated, and signed in the testator’s handwriting. It does not require any witnesses. Third is the nuncupative will, or will by public act. This rarely used type of will is dictated orally and recorded by a notary in the presence of witnesses.
Work With Louisiana’s Unique Legal System
Louisiana is the only US state that follows a civil law system, meaning one based on a written legal code, rather than a common law system where past court decisions form the basis of future rulings. Although Louisiana law is often described as being derived from the Napoleonic Code, a lot of it is even older, as that code contained some laws that had been in place since Louisiana was a Spanish colony and even before.
This means you can sometimes come into contact with some laws that seem strange and archaic, but a skilled lawyer can work with the system to make sure your wishes are honored. The most well-known of these laws when it comes to inheritance issues is the legal principle of forced heirship, but laws such as usufruct and others should also be taken into account when it comes to estate planning.
Establish Trusts To Protect and Control Your Assets
Louisiana law allows for various types of trusts, which can be set up by your lawyer. A trust is a useful way of ensuring that your assets are protected and that your money not used in ways that you would consider to be against your wishes.
If you have a disabled heir, you may wish to set up a Special Needs Trust, which can provide them with support without jeopardizing any public benefits that they may be entitled to. If, on the other hand, some of your heirs are not very financially responsible, a Spendthrift Trust can protect beneficiaries from creditors and from spending irresponsibly.
Head off Succession Disputes and Contested Wills
Family disputes can arise when wills are ambiguous or when heirs feel unfairly treated. A lawyer can often serve as a neutral third party in mediating family disagreements before they escalate into full-blown legal battles. A good lawyer can also minimize the risk of strife by making sure the language in all your legal documents is clear and precise, so there can be no misunderstandings. We will also follow all necessary procedural formalities so that there can be no issues with the legal validity of the documents.
If you are concerned that someone may claim that you were not competent to make your will (that is, that you lacked what is called testamentary capacity), we can document your intent and your mental capacity. This documentation can be used to defend your will and other estate planning documents if they are challenged.
Appoint a Durable Power of Attorney and Healthcare Proxy
Your final wishes may include instructions for the medical care you want or financial decisions you wish to make if you become incapacitated. A lawyer can draft documents such as a Durable Power of Attorney (POA) which appoints someone to manage your financial affairs, a Healthcare Power of Attorney (Medical Mandate) which allows a designated person to make medical decisions on your behalf, and a Living Will, which outlines your preferences for end-of-life care.
When properly executed in line with Louisiana law, these are legally binding documents that will make sure that your wishes are known and respected, and that any decisions made on your behalf are done by someone that you trust.
Assist with Estate Tax and Medicaid Planning
Louisiana repealed state inheritance tax in 2012. However, the state does impose an estate transfer tax, which is applies to estates that are subject to federal estate taxation. We advise you on whether this tax may apply to you, help you to prepare for it.
Additionally, and often more significantly, we can help with Medicaid planning to make sure that your assets are not consumed by long-term care expenses. Depending on your own personal and financial circumstances, this may involve measures such as strategic gifting, turning assets into exempted income streams, setting up irrevocable trusts, or transferring property within look-back periods. Proper planning in this area means that your resources go to your heirs and not to nursing home bills or state recovery programs.
Protect Digital Assets and Non-Traditional Property
The way the world works financially is developing all the time. Estates nowadays may include digital assets like cryptocurrency, social media accounts, and online businesses, and we take pride in being up-to-date with the law in this area. We can include digital assets in your will or trust, help you maintain secure and legal access for your heirs, and make sure that your online footprint is managed according to your preferences.
Keep Your Plans and Documents Updated
It’s normal for your final wishes to change when your own circumstances do. Events such as divorce or remarriage, the birth or death of an heir, or significant changes in your assets may occasion a change in what you want to do with your estate. We can provide periodic reviews of and updates, to your estate plan, so that everything remains current and enforceable. It is also part of our purview to keep ourselves abreast of any changes in Louisiana law, and will therefore be able to advise you on how these may affect your plans.
Consult an Estate Planning Attorney in Metairie, LA
While it may seem impressive, the list above is by no means exhaustive. Estate planning is a broad field, and the ways in which a lawyer can ensure that your wishes are respected will vary significantly depending on your individual circumstances and what those wishes actually are. The most effective way to find out how we can help you is to consult with an experienced estate planning attorney so that we can begin to understand your situation, your legal needs, and how you want to distribute your assets and make provision for your final wishes.
While it is important to have a will, the abilities of an estate planning lawyer go far beyond just that. Whatever your final wishes are, we will do our utmost to make sure that these are put into motion.
Contact Our Louisiana Estate Planning Law Firm For Help Today
If you are planning for the future or need guidance with wills, trusts, or probate in Metairie, Louisiana, contact the experienced estate planning attorneys at WJ Blanchard Law to schedule a consultation and protect your family’s legacy today.
We proudly serve New Orleans, Jefferson Parish, and the surrounding areas:
WJ Blanchard Law
2800 Veterans Blvd Suite 257
Metairie, LA 70002
Phone: (504) 313-7478
Hours: Mon-Fri 09:00-17:00
Our firm is located near you. We have an office in Metairie
Find us with our GeoCoordinates: 30.0014913,-90.1498979,893
