Lafayette Family Makes It Easy To Leave Home To Child With All Else For Their Children Equally

Helped a nice couple recently. They lived outside of Lafayette, Louisiana. They had four main estate planning goals: (1) Keep the surviving spouse in control of everything; (2) Make sure that any of their four children could handle future financial and medical decisions should the parents become incapable; (3) Make sure that one of their children (who did not own a home while their other three children all did well and had nice homes) inherits their home; and (4) Make sure that all four children work together after the parents die to sell their commercial property and divide up the proceeds as well as divide equally their stock investments and bank accounts that they have.

So, we will be helping them implement their estate legal program so that when one of them dies, the surviving spouse will not have to access the legal system to access their money or property. Probate will not be necessary when either one of them dies. Their revocable living trust will specifically provide that when they die, their home is to be transferred to their child. Their trust further stipulates that their four children will be the Successor Co-Trustees after both parents die so that the children will have immediate access and authority to work together to divide remaining assets equally and fairly - keeping sibling relationships strong, and keeping the government out of the settlement of their estate.

If you live in Louisiana and would like to start a conversation about setting up an estate legal program for you and your family, call Rabalais Estate Planning at 866-491-3884.