When the death of a loved one happens unexpectedly, you might find yourself thrust into the role of executor for your relative. It is natural to worry about legal pitfalls since mishandling your estate responsibilities could lead to litigation against you. Fortunately, taking the right actions can prevent problems. Executors have fiduciary duties to the estate and heirs. These duties inform how you handle the estate going forward. Refrain from taking estate property As executor, you have access to estate accounts, property and valuables. Taking any of it for personal use is a breach of your fi ..read more

As parents age, it becomes increasingly important to engage in open conversations about estate planning. While it may seem like a daunting topic, discussing these matters can help them manage their assets appropriately. One way to do this is to broach the subject with your older parents in a thoughtful way. Start of the conversation Approaching the topic of estate planning requires sensitivity and tact. Start by expressing your genuine concern for their well-being and the desire to make sure others honor their wishes. Emphasize that the purpose of the conversation is to alleviate potential bur ..read more

Creating an estate plan is an essential step for managing your financial future and ensuring others carry out your wishes after your death. In Louisiana, specific laws and regulations govern estate planning. While focusing on significant items like wills and trusts may seem important, you should not ignore other aspects of estate planning. These seemingly minor details can significantly impact how others handle your estate. Here are some things you should not overlook when creating your Louisiana estate plan. Consider all your assets Most people focus on significant assets like homes and bank ..read more

When a close family member is building their estate plan, there is much you can do to assist in the process. End-of-life planning is not easy to tackle, but your loved one will benefit from your support and encouragement. If your loved one names you as their executor in their will, however, you might find yourself with more responsibility than you expected. It is crucial for you to understand what exactly it means to be an executor and what your options are for refusing the role if you so choose. What are the responsibilities of an executor? The executor of an estate fulfills the duty of settl ..read more

While most people prefer not thinking about the potential for premature death or incapacitation, planning for the worst helps ensure you receive the care you need. A living will allows you to specify instructions for medical care. If you feel unsure about whether or not you should create a living will consider the following ways it can benefit you. Benefits of creating a living will Whether you develop a terminal illness at the end of your life or get into a critical accident, you likely have certain preferences about the care you receive. If a health condition incapacitates you, disagreements ..read more

A new baby brings hopes and dreams for the future. New parents look forward to watching their little ones grow and reach their full potential. The addition of a brand new family member is an ideal time to review your estate plan. If you do not have a will, now is the time to write one. Appointing a tutor and a trustee While it may be painful to contemplate, you should designate a person to care for your child in the event of your untimely death. A tutor, known as a guardian in most states, is a person you name to care for your children if neither parent is able to do so. Often, the tutor also ..read more

No matter your age or personal situation, you should have a basic estate plan. Having the right documents in place can provide peace of mind, and ensure the execution of your wishes in the event of your incapacity or death. Since there are only three elements to consider, putting a plan in place will not take excessive amounts of time. Last will and testament Your will can address these important issues: Determine the distribution of your assets upon your death Appoint a guardian for your minor children Appoint an executor who can administer your will and finalize your financial responsibilit ..read more

Your children rely on you for their care, so what happens if you die? Creating a plan for what happens to them in the wake of your unexpected death should become a priority. An estate plan should include many provisions, including one that appoints a tutor (sometimes also called a "guardian") for minor children. A tutor is the person legally responsible for overseeing the property left to the minor child and must see to their health, education and general welfare. Delve into these suggestions for handling the critical task of appointing a tutor. Who fits your parenting style? How will you choo ..read more

Another hurricane season is upon us. While we’re hoping this area stays out of the “Cone of Uncertainty,” we're also hoping that you will still be prepared. Hurricane season runs from June 1 through November 30, and during that time, it is highly recommended that you and your family have a hurricane preparedness plan in place. This should include food, water, an evacuation route…and an estate plan. That’s right, an estate plan. Even with the best disaster preparedness plan, there is no way to know for sure how a disaster such as a hurricane may affect you and your family. Making sure all impor ..read more

No one likes to think about their own death. But the truth is, the more thought and preparation you put into your estate plan, the easier it will be for the loved ones you leave behind. This is especially true for your executor, who has the most difficult job of all. By leaving them a clear and thorough plan to follow, they can focus more on mourning your loss and supporting your family, and less on the headache and stress of managing your estate. What does an executor do? An executor has many responsibilities that take effect from the moment you pass away and they accept the role. That’s why ..read more