Been working with a couple from LaPlace, Louisiana on their estate legal program. They came into my office holding their Wills from 30 years ago. They knew they needed to start over with their estate planning and they asked for my help. Here are a few of the legal issues that we discussed:
- Grandchildren. The couple has 13 grandchildren and they wanted to recognize each of their grandchildren in the estate planning program. They are leaving $15,000 to each grandchild. If, when Grandma and Grandpa both pass, the grandchildren are not yet 27 years old, then the grandchild's parent will handle the money until the grandchild reaches 27 years old. The grandparents are pumped that they can acknowledge their grandchildren in this way.
- Charities. The couple has nine different charitable organizations they want to support with their Louisiana estate plan. They are leaving some charities more than others, and with certain charitable bequests, they are restricting the money for certain uses within the charity.
- Protecting Children's Inheritance From Divorce. We are arranging their estate planning legal program so that the five children will each inherit a trust making it more likely that the child will not lose his or her inheritance if the child subsequently gets divorced.
- Avoid Probate. The couple really liked the fact that their loved ones will avoid two probates - one which would have taken place after each of them dies. They are fired up that their will be an easy transition for their loved ones when they die - hopefully keeping all of the family relationships strong.
If you would like to have your grandchildren remember you for the final gift that you give them, or if you want to leave the world a better place by making charitable bequests, or if you want to make sure that your children and grandchildren can hold onto their inheritance, and you want to avoid government intrusion into your estate, then call us for help at 866-491-3884, and we'll simply start a chat about how to set up your Louisiana estate planning legal program the right way.