FAQs

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Frequently Asked Questions

1What is a will?

A Will is a legal document, wherein you state who gets what after you die. People with minor children must state in their wills who will raise and care for their children. Should you not create a Will, the laws of the state dictate who gets what after you die; and a judge will appoint a guardian for any minor children. Your Last Will and Testament is both critical and fundamental.

2What is a trust?

A Trust is a legal document that acts as a substitute for a Will. Trusts, unlike Wills, avoid Succession; and they allow you to put stipulations on inheritances. Trusts can also offer asset protection. Louisiana law defines a trust as a relationship between you and your stuff. It is my job, as your Estate Planning Attorney to craft the parameters of that relationship.

3What is a financial power of attorney?

A Financial Power of Attorney is a legal document, wherein you appoint an “Agent” to make financial decisions on your behalf. Should you suffer an incapacity and be unable to manage your own affairs, your Agent will handle your affairs, on your behalf. However, if you do not create a power of attorney while you are competent, your loved ones must Interdict you in a court of competent jurisdiction so that they may legally act on your behalf. In Louisiana, Powers of Attorney are also called Mandates and/or Procurations.

4What is medical power of attorney?

A Medical Power of Attorney is a legal document, wherein you appoint an “Agent” to make medical decisions on your behalf. Should you suffer an incapacity and be unable to manage your own affairs, your Agent will handle your affairs, on your behalf. However, if you do not create a power of attorney while you are competent, your loved ones must Interdict you in a court of competent jurisdiction so that they may legally act on your behalf.

5What is a living will?

A Living Will is a legal document, wherein you declare that you do not wish to have your life artificially prolonged.

6What is medicaid planning?

Medicaid Planning is a form of asset protection that focuses on the ever-increasing costs associated with long term care.

7What is asset protection?

Asset protection is about protecting that which you have spent your entire life accumulating.

8What is succession?

A Succession is a lawsuit that is required at death when a person dies owning assets in his or her name. Other states call this court proceeding Probate. Probate is Latin for Prove the Will. Living Trusts avoid the costs, delays, and indignities of Succession.

9What is an interdiction?

An Interdiction is a lawsuit that is required when a person becomes unable to manage his or her affairs. Other states call this court proceeding Guardianship. Financial and Medical Powers of Attorney avoid the costs, delays, and indignities of an Interdiction.

10What is special needs planning?

Planning for people with special needs is critical and complicated. It is a form of asset protection that ensures the preservation of public benefits.