Why You Need an Estate Plan
Estate planning and trusts are important tools for any person no matter their means. Having an executed will and planning for the future can ensure peace and stability through the most difficult of times. Sternberg, Naccari & White LLC attorney Mervatt Eljaouhari works with individuals and businesses on their estate planning needs. Her foundation for a meaningful and impactful estate plan begins with establishing a last will and testament and ensuring that both medical and financial powers of attorney are in place.
An Estate Plan is Vital to You and Your Family
If something were to happen to you tomorrow, who would inherit?
If you do not have a last will and testament, the intestacy laws of Louisiana will dictate who inherits your possessions when you pass on. In almost all cases, our clients want to maintain control of who inherits their estate. Everything from where your assets devolve to who would raise your children or dependents can be dealt with by simply planning ahead.
Controlling Your Assets
If you do not have a will or trust, you lose the option to plan appropriately based on your individual circumstances and your inheritance may possibly transfer to your children outright in a lump sum. For most parents, the idea of a teenager or child receiving large sums of money is frightening. This fear is heightened if drug or alcohol abuse is a factor. Any level of uncertainty on who inherits what can bring undue stress and tension to your loved ones during an already difficult time. Preparing your will can solve these problems before they start.
Permanent or Temporary Disability
If you became disabled, who would legally have the right to act on your behalf to pay your bills until you recovered? If you do not have a valid power of attorney in place, court approval appointing a specific person as power of attorney would likely be necessary. As can be imagined, court proceedings are costly and time consuming. Preparing in advance by having trusts and the appropriate power of attorney documents in place can help to minimize and eliminate these costs.
You Need Estate Counsel
Estate planning is essential for everyone. If you have children, if you are married, or if you have any assets, then you will benefit from establishing your estate plan. As your estate grows, more advanced planning can be discussed and implemented to suit your family’s needs.
Much of our estate and trust work can be accomplished by flat fees that give you certainty. Call Sternberg, Naccari & White, LLC for a free consultation on your estate plan today.