Estate Planning with Trust’s for Asset Protection

By | March 16, 2009
Great article on the use of Trust’s in Estate Planning. These topics can be confusing but the author here keeps it real simple and concise. Don’t forget that Life Insurance can be used as a tool in Estate Planning applications.
clipped from www.takearticles.com

Numerous people avoid discussing Wills or create one. If you choose not to have a Will, Louisiana law will make the decision on the course of action to be taken to divide your assets. Having a Will can help you protect your loved ones and your lifetime earnings. Instead of allowing the government to decide how to distribute what you’ve created with all of your hard work, it is important to take the time and plan your Will with an estate planning attorney.

Community property without a will passes to the children with the surviving spouse having a usufruct until death or marriage. If you have no children and no will, the spouse receives the community property and your siblings receive the separate property with a usufruct in favor of your parents, if living.

By having a Will you have control over the estate and its distribution. That is why it is very essential to consult an estate planning attorney to be sure your estate is handled carefully.

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