Do I have to leave the same amount to each of my children in my estate plan?
Shelby Law Firm Blog
by On Behalf of Shelby Law Firm
3w ago
The Louisiana estate planning process is highly customizable. You may choose to incorporate or omit specific legal documents. There are no rules regarding the issue. You can also decide how to distribute your assets, especially inheritance that you might want to give to your children. While the law does not require you to leave an equal amount to each of your heirs, there are several issues to keep in mind if you’re considering different inheritances for each of your kids. Data from 1995 to 2010 shows an interesting trend among estate owners aged 50 and older who left multiple children an inhe ..read more
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Creating a 529 plan for your grandchild’s college education
Shelby Law Firm Blog
by On Behalf of Shelby Law Firm
2M ago
As a grandparent, one of the most prominent goals that you have for the future is ensuring that your loved ones have what they need for stability and security in the future. One important way you can do this is by establishing financial plans and legal protections that ensure your wealth stays in the family and that there is appropriate use of your assets after you pass. For many Louisiana grandparents, they want to set aside funds for their grandchild’s college education. There are different ways you can set aside and designate assets for a specific use, both during and after your lifetime. I ..read more
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Estate planning with stepgrandchildren
Shelby Law Firm Blog
by On Behalf of Shelby Law Firm
5M ago
One of the important factors when creating an estate plan is developing a strategy that allows you to have the final say over what happens to your personal property after you pass away. You can decide where your property should go, which of your loved ones should get certain assets and if you wish to designate any of your estate for charitable giving. This gives you assurance that your assets will end up in the right place and with the right recipient.  You may intend for your kids and grandkids to receive a portion of your Louisiana estate, but you may not want your stepgrandchildren to ..read more
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Can I pass my home on with a transfer on death deed In Louisiana?
Shelby Law Firm Blog
by On Behalf of Shelby Law Firm
7M ago
One of your main priorities for planning for the future is to ensure that your assets go where you intended for them to go after your death. Through your estate plan, you can have the final say over your personal property in the future, as well as your medical care, in the event of your incapacitation. One of the most important assets that you own, and one that you will want to prioritize in your estate plan, is your home.   It is critical that you have clear plans for what happens to your home after your death. You may want your heirs to sell the home and split proceeds, you may wan ..read more
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3 Ways you can pass your home to your loved ones
Shelby Law Firm Blog
by On Behalf of Shelby Law Firm
9M ago
One of the most difficult aspects of planning for the future is considering what will happen to your personal property after you pass away. It is not easy to consider your own mortality, but it is a necessary and important process to plan for your passing. Estate planning is a critical step for Louisiana adults of all ages and income levels, regardless of age or health status. If you have a family home that you would like to pass to your loved ones someday, it is important that you do so properly. Passing property to heirs and beneficiaries is a normal goal for estate planning. However, there ..read more
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Can the court revoke power of attorney?
Shelby Law Firm Blog
by On Behalf of Shelby Law Firm
11M ago
One of the most important things you can do for your future is ensure that your interests are secure in the event of your incapacitation. It is impossible to know for sure what is ahead in your life, but you can take steps that will allow you to have a measure of control over certain important matters. This includes your finances, your medical care and more. By drafting certain legal documents, you get the final say in what happens to your person and your property.  A power of attorney is a legal document in which you name a person to act on your behalf in case you cannot express your wis ..read more
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Should I keep my estate plan a secret?
Shelby Law Firm Blog
by On Behalf of Shelby Law Firm
1y ago
Planning for the future can be an uncomfortable process that requires you to make deeply personal decisions regarding your personal property and potential medical needs. There is no one-size-fits-all solution to creating a practical and sustainable estate plan, but you can create a strategy that will allow you to have a measure of control over certain important matters that may arise in the future. Because of the personal nature of estate planning, you may not want to discuss your plans with your Louisiana loved ones  You may feel uncomfortable discussing your money, personal property and ..read more
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Communicating intentions to loved ones when making an estate plan
Shelby Law Firm Blog
by On Behalf of Shelby Law Firm
1y ago
It is never easy to consider the future when it comes to your own mortality and what will happen after you pass away. While it may be a difficult process, estate planning is important for everyone, regardless of age, health or income level. Planning for the future is a critical component of having long-term security and protection, but it is also important to discuss your plans and intentions with your loved ones. When they know your wishes, you will simplify matters for those you leave behind.  Like other aspects of the estate planning process, it can be emotionally challenging to discus ..read more
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Is a will the same thing as an estate plan?
Shelby Law Firm Blog
by On Behalf of Shelby Law Firm
1y ago
You understand the importance of every adult taking the time to plan for the future. Legal and financial plans allow one to have a measure of control over certain matters, and it can protect the interests of loved ones well into the future. This is something you can accomplish through the estate planning process. As each person has different financial concerns and objectives for the future, each estate plan will be unique and specific to that individual.  Estate planning is different for everyone, but there is a significant chance that you will need to create a will. While this is an impo ..read more
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Are fees for estate planning tax deductible?
Shelby Law Firm Blog
by On Behalf of Shelby Law Firm
1y ago
Each Louisiana adult will benefit from the protections provided by an updated and carefully crafted estate plan. However, one of the reasons why you may be avoiding it is that it can be a complex legal and financial process involving complicated decisions and additional costs. It may be helpful to first understand what to expect from the estate planning process, including the fees you may have to pay, in order to plan appropriately. At one point, estate planning fees were tax deductible. They are no longer deductible, but there are other ways you may be able to streamline costs while still cre ..read more
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