Living Wills: Will Your Living Will Survive You?
Posted on February 3, 2008 - Filed Under Legal and Law | Leave a Comment
A living will is also known as an advance directive, and it is a written document indicating a person’s wishes in the event that they are reduced to a vegetative state by some accident or trauma, and whether doctors treating them should go to all efforts necessary to keep them legally living, or to “allow nature to take its course”.
Read More..>>Louisiana Estate Planning Under Napoleonic Code Is A Bit Different
Posted on January 16, 2008 - Filed Under Legal and Law | Leave a Comment
Louisiana law provides that without a will, separate property is inherited in a unique inheritance order unlike that in most other states. That order is somewhat complicated, and its unusual provisions often come as an unwelcome, devastating surprise to the surviving family.
If one is married but has no will, ones line of inheritance in Louisiana is the same as that of a single person. That is: Actual usage (usufruct) of funds and property are given to the parents of the deceased; the deceased’s siblings are granted naked ownership. If the deceased’s parents die first, then the siblings inherit full ownership with usage rights.
Read More..>>Estate Planning - Basic Facts
Posted on January 6, 2008 - Filed Under Legal and Law | Leave a Comment
Estate planning involves writing a will but it, itself is not a will. Estate planning can be precisely defined as a series of legal steps that involves permitting your beneficiaries to steer clear of probate and curtail the taxes incurred.
It also requires you to write a living will in which you appoint trusted acquaintances who would acquire the power of attorney and executor status should you be debilitated or die.
Following are certain basic facts about Estate planning:
• It permits you to exercise direct control over how your property will be treated when you are incapacitated.
Read More..>>Introduction To Estate Planning
Posted on January 2, 2008 - Filed Under Education, Legal and Law | Leave a Comment
Estate planning is the creation of a comprehensive financial plan to provide for your spouse and heirs upon your passing.
The old saying tells us that we can’t take it with us. It is true. The question is what we do with it then. People often start their life just trying to make ends meet. As time goes on, they begin to acquire a certain amount of wealth. If they are lucky and smart, they provide for themselves and for the people that are dependent on them while at the same time accumulating property and even more wealth. When they die, this represents their estate. Estate planning is the process that determines what happens to all of this after death.
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