Gretna, Louisiana Estate Planning Audience Worried About Losing Assets To Nursing Home Expenses

Gave an estate planning presentation to a great group of folks in Gretna today. When each of the individuals walked in, I asked them what they were hoping to learn during the presentation. The responses were all very similar, although each response was based on a particular background or family experience. Some of the responses were as follows:

  • Husband has dementia. One woman stated that her husband has dementia and she was worried that she would have to put him in the nursing home in the future, which would cause them to lose their life savings, and ultimately, lose their home. She said most of their net worth was in their home and she was hoping to be able to leave the home to their children.
  • Couple Wants to Avoid Leaving It to the Government. Another Gretna couple said our information is exactly what they were looking for. They have worked hard and had saved. They want to see their hard-earned estate go to their children instead of to the government or the nursing home. They said that one of their two children was an attorney - I told them that I would not hold that against them. :)
  • Couple owns rental real estate. One couple owns several doubles in Jefferson Parish. The husband, in his late 60's, had seen other family members deplete their estate due to nursing home costs. They were concerned about protecting their property and their savings for their one child. We discussed the capital gains tax problems associated with donating the properties to their son right now.
  • Husband Died Two Years Ago. One woman in attendance lost her husband two years ago and had not started on his Succession. She is getting to a point where she can't manage the home and is considering selling it and moving into something smaller. There are family issues that may make completing the probate difficult, if not impossible. Perhaps we can help her.
  • Future Executor Worried. One gentleman said he was named as the executor of his elderly parent's Will, but prior to attending my presentation, thought he would be able to go to the bank and brokerage firm after his parent dies with the Will and get immediate access to funds for immediate distribution to his many siblings. Now he is a little worried because the sibling relationships are less than rosey, and he anticipates many problems when his parent dies and he tries to fulfill his duties as executor.

All in all, it was a great crowd in Gretna today. All were worried about the various potential interferences that could mess up their trying to leave their estate to their children. I look forward to the opportunity to work with many of these folks and help them establish a Louisiana estate planning program out of our Metairie office so that they can pursue their senior years without worry that there will be difficult estate issues when they die.

If you live in Louisiana, and would like to discuss how an estate legal program might help your family protect 100% of your estate, give us a call at 866-491-3884, and let's set up a time to chat about how easy it is to get your estate legal affairs in order.