Every family in Louisiana can benefit from careful end-of-life planning with an estate planning lawyer. While there are many ways under the law to protect your wishes and your loved ones, an experienced attorney should help you explore which options will be best for your situation.
End-of-Life Planning: What Every Louisiana Family Should Know
Directives for Healthcare Decisions
You’ll never regret putting your medical wishes in writing while you can still speak for yourself. A living will, or advance directive, tells doctors what you want if you’re not in a condition to do that yourself. You can direct them to withhold or withdraw certain treatments, for instance, and you can also name an agent to make decisions for you if you cannot communicate, though this only applies to end-of-life decisions.
You need a separate healthcare power of attorney to nominate someone to make all medical choices for you, not just end-of-life ones. This can become important if you should be incapacitated but are not in danger of death. Choose someone you trust completely, who knows your values, and who will follow your instructions even if family members disagree.
Powers of Attorney for Finances and Property
Setting up a durable power of attorney for financial matters gives you peace of mind that someone will be able to pay your bills, manage your bank accounts, file your taxes, and handle any real estate issues you have if you should be unable to make those decisions. This document allows someone to act for you while you’re still alive but unable to act for yourself, and without this document, your family would likely have to go to court to get the authority to do this.
You can limit the power of your agent or make it broad. Most people give their agent full authority and also name a successor agent in case the first one cannot serve.
Wills, Trusts, and Asset Distribution
Your will names who gets your property after you die, who serves as executor, and who will raise your minor children (if you have children, and if you should pass away before all your children reach the age of 18).
A revocable living trust is a good option for many families. You can transfer certain assets to the trust while you are still alive, manage them as if you still owned them by naming yourself the trustee, and know that there will be a smooth transfer of all the assets in the trust to your beneficiaries after your death.
Working With an Estate Planning Lawyer
Our civil law system is different from that of every other state, so advice and suggestions you find online might not apply here in Louisiana. If things aren’t set up correctly, your whole plan could be invalidated, and your family might get forced into a long court battle. By working with an experienced lawyer, you can have peace of mind knowing someone with knowledge of our laws is keeping your plan on track.
For help with your Louisiana estate, no matter how large or small, contact Walter D. White, A Professional Law Corporation, in Shreveport, LA today to set up a consultation.