How to Plan for Estate Planning in Baton Rouge?

It’s never too early to think about the future. Estate planning is an important aspect of every single person’s life. Despite this, many people do not take advantage of the tools they have at their disposal. Estate planning can seem like a daunting process with never-ending options. It helps to know how to plan for estate planning in Baton Rouge. That way, you can be ready to move through the process with your goals for the future in mind.

There’s a lot that goes into estate planning, and it’s easy to get overwhelmed. It’s wise to hire an estate planning lawyer you can trust to help you make important decisions about securing your assets for the future.

Estate Planning in Louisiana

Estate planning is the main way to control what happens to your assets and wealth when you die. However, recent studies show that less than 50 percent of Americans even have a will. Even fewer have any additional estate planning tools in place. For example, recent data revealed that about 31 percent of adults in the country have an advanced healthcare directive.

There are many steps you can take to plan for estate planning in Baton Rouge, depending on the state of your finances and your goals. Some of the most common parts of estate planning include:

• Creating a will
• Designating an executor
• Establishing Power of Attorney
• Going through succession
• Handling estate contests and disputes
• Identifying heirs or beneficiaries
• Navigating healthcare directives
• Creating trusts

Many of these situations require court involvement. However, some of them can prevent future intervention. By setting up documents like trusts in advance, it is possible to limit the amount of assets involved in a succession, which must be done through the court system. It might even be possible to remove the need for succession entirely.

Louisiana Estate Planning Laws

Estate planning in Louisiana can look a bit different from that in many other states. The state’s civil laws are rooted in French and Spanish law, as opposed to the country’s laws derived from English Common Law. It’s helpful to work with a Louisiana estate planning attorney to ensure you’re handling everything correctly.

The average inheritance received by households in the United States is approximately $46,000. Regardless of the value of an estate, it’s important to know how to protect your assets and control what happens to them once you pass.

Planning With a Local Baton Rouge Estate Planning Attorney

Estate planning is difficult, but having a solid understanding of Louisiana’s estate planning laws can help. That’s why it’s wise to work with a local law firm that has experience working on cases like yours. Field Law has been serving Louisianans for over 12 years. We know Baton Rouge estate planning laws well, including the rules and nuances of the succession process.

We’re an estate planning firm first, which means you can count on us to be a reliable source of knowledge throughout your estate planning case. Over the years, we’ve settled over 500 estates and secured millions of dollars for our clients. We’re confident we can put a plan in place that provides you peace of mind.

FAQs

What Is Involved in Estate Planning in Baton Rouge?

What is involved in estate planning in Baton Rouge can vary on a case-by-case basis. Estate planning can be as complicated or as simple as you make it. The state of your finances and other assets also impacts the process.

Moreover, your goals for your future are going to determine the services you require. Estate planning can include establishing healthcare directives, powers of attorney, trusts, and wills.

What Assets Can I Place in a Trust in Baton Rouge?

The assets you can place in a trust in Baton Rouge depend on the types of assets you have. You can put most assets into a trust to provide extra protection and instructions on what happens to them once you pass.

Assets in a trust can also avoid probate. However, you do still have to contend with Louisiana’s forced heirship laws. A Baton Rouge estate planning attorney can help you with your trust needs.

How Can a Baton Rouge Estate Planning Attorney Help With My Estate Planning Case?

A Baton Rouge estate planning attorney can help with your estate planning case in a number of different ways. They can evaluate your financial profile and help you figure out which estate planning tools are most useful for securing your assets.

Your attorney can also help you draft important legal documents and navigate Louisiana estate planning laws. This ensures everything is legally sound and comprehensive enough to accomplish your goals.

How Much Does It Cost to Hire an Estate Planning Lawyer in Baton Rouge?

The cost to hire an estate planning lawyer in Baton Rouge depends on the service you require. The complexity of your financial profile can also impact costs. You can typically expect to pay a flat fee, an hourly rate, or a retainer to hire an estate planning lawyer in Baton Rouge.

You can usually set up initial meetings with potential law firms to learn more about their services. It’s important to ask about their fee structure and potential costs.

Hire an Estate Planning Lawyer in Baton Rouge to Discuss Your Situation in More Detail

Estate planning is a complex area of law that looks different for every person. It’s imperative that you have a solid understanding of your finances, your assets, and your goals for the future.

The good news is you don’t have to figure it all out on your own. It’s highly recommended that you reach out to a local Louisiana estate planning attorney to guide you through the process.

For residents in the Baton Rouge area, there’s no one better to turn to than Field Law. With years of estate planning experience under our belt, we’re confident we can help you come up with a strategy that addresses all your future needs. If you’re ready to discuss your case in more detail, reach out to set up an appointment with a member of our team today.