Estate planning is a process to consider alternatives for, to think through, and to set up legally effective arrangements that would meet your specific wishes if "some-thing happens" to you or those you care about.

Good estate planning is more than "just a simple Will". Estate planning also typically minimizes potential taxes and fees, and sets up contingency planning to make sure your wishes regarding health care treatment are followed.

On the financial side, a good estate plan coordinates what would happen with your home, your investments, your business, your life insurance, your employee benefits (such as a pension plan), and other property in the event you became disabled or if you die.

On the personal side, a good estate plan includes directions to carry out your wishes regarding health care matters, so that if you ever are unable to give the directions yourself, someone you select would do that for you and know when you would want them to authorize "heroic measures" and when you would prefer they "pull the plug". 

Who Needs Estate Planning?

You should have an estate plan if you want to:

	Make things simple for your loved ones to inherit your assets and you want to control who benefits from your estate after you die;
	Minimize or avoid federal estate tax and Louisiana Inheritance tax when you die;
	Control who your executor will be to oversee the distribution of your estate to your loved ones;
	Avoid the depletion of your estate from the cost of long term care in a nursing home;
	Control who raises your minor children if you die while your children are still young;
	Make certain that your child’s inheritance is divorce-proof; or
	Take advantage of a simplified probate procedure that can save your heirs time, effort and money after you die

Getting Started

Getting started with your estate plan is easy. Just contact our office and tell the person that answers the phone that you’d like to set up your initial estate planning meeting. We’ll schedule a time for you (or you and your spouse if you are married) to come in and meet with Mr. Rabalais – at no charge to you.

Prior to your arrival, all that we ask is that you print out and complete our confidential Estate Planning Questionnaire. This allows us to get some basic information about you and your family. When you come into our office, Mr. Rabalais will find out your ultimate estate planning objectives and then, after you answer a few questions, Mr. Rabalais will suggest the legal strategies necessary to accomplish those objectives.

Typical estate planning services

While every estate plan is different, and your estate plan will be customized to meet your specific estate planning objectives, the estate planning services provided to you could include the following:

	Preparation of your Last Will and Testament. This may be the most important legal document you ever sign. In your Last Will and Testament, you will provide for the disposition of all of the assets that you own when you die. You will designate your executor and you may even include a testamentary trust for the benefit of your spouse, your children, or others. Your last will and testament may include provisions to minimize or avoid death taxes, or you may provide for the “back-up parents” for your children if you die before your children reach the age of majority. You may provide further provisions in your last will and testament to make your children’s inheritance divorce-proof, so they do not have to split it with your ex-daughter-in-law or ex-son-in-law if your children get divorced after receiving their inheritance.
	Prepare your Durable Power of Attorney. This important legal document authorizes another to act for you in the event of your incapacity. If you fail to sign a properly prepared durable power of attorney, the court will appoint a guardian (or “Curator”) for you if you can’t handle your affairs for yourself during your lifetime.
	Prepare your Health Care Power of Attorney. This legal document authorizes another to make important medical decisions for you if you are unable to make your own medical decisions
	Prepare your Living Will. Also known as your “Declaration,” your living will expresses your intentions regarding the withdrawal of life support systems if you are in a profound vegetative state with no chance of recovery.
	Customized Beneficiary Designations. Certain assets you own, such as Individual Retirement Accounts (IRAs), 401(k) accounts, annuities, and life insurance policies, are passed along at your death to the designated beneficiaries you name on your Beneficiary Designation Form. Due to the complexity of estate planning, you’ll want us to make certain that we assist you in properly designating your beneficiaries on these types of accounts
	Trusts. There are many different types of trusts. Common trust uses include revocable living trusts, Medicaid planning trusts, irrevocable life insurance trusts, and many others. Contact us to find out if a trust is an appropriate estate planning tool for your estate plan
	Other estate planning services. Other common estate planning legal services that we provide include Formation of business entities, such as limited liability companies (LLCs) and corporations Interdiction and Curatorship, when an individual is no longer capable of managing his or her own affairs Marriage Contracts, typically prepared prior to marriage when couples wish to deviate from Louisiana’s community property laws