Comprehensive Estate Planning
Estate planning can seem stressful and too daunting a task to prioritize. However, not talking about or developing an estate plan can result in contentious family disputes and the loss of your estate’s value due to taxation or costly litigation.
At Koch & Schmidt LLC, we work closely with business owners, individuals and families to help them plan for stable financial futures. If you already have an estate plan but recently suffered the death of a loved or went through a divorce, now is the time to update your existing plan. We will help you reshape your estate plan to your current circumstances.
Protecting Your Interests, Your Assets And Your Loved Ones
Estate planning is more important than many may realize at first. When you take the time to review your personal and business affairs and assign trusted agents to step into the gap for you should you suddenly become injured or disabled, you are protecting not only your assets, shielding your family from confusion about how to handle your affairs, but also avoiding unnecessary and expensive court intervention.
Our legal team will help you build your foundational estate plan, including drafting:
- Powers of attorney: A legal document that ensures your business affairs can be carried out properly by your choice of trusted agent if you become incapable due to sudden disability, grave illness or serious injury.
- Living wills: Also known as advance health care directives, living wills allow you to indicate what type of end-of-life medical treatment you wish to have in case you become unable to communicate for yourself due to incapacity.
- Wills: A legal document that allows you to choose a personal representative, or executor, of your estate when you die. You indicate how and to whom you wish to distribute your assets in a will. If you have young children, you may also nominate your choice of guardian. Without a will, your assets will be distributed according to the state’s probate laws or, in Louisiana, according to the state’s succession laws.
- Trusts: Not every estate plan will require a trust. There are several types of trusts that you can create, depending on your circumstances and needs while you are alive as well as your wishes for the distribution of your estate when you die. There are tax benefits when you create a trust. Essentially, a trust establishes a fiduciary relationship between the creator of a trust, the trustee(s) and the successor trustee(s) for the benefit of the trust’s beneficiaries. Trusts can also be useful to protect the assets of those who have received significant personal injury compensation to safeguard and grow the monetary award.
Estate plans come in all shapes and sizes. Speak with our experienced estate planning lawyers today to learn more about how we can assist you in completing your estate plan.
Contact Our Trusted Estate Planning Attorneys
Planning for your future can be a welcome task when you work with our experienced team of legal professionals. At Koch & Schmidt, we will help you protect your business interests and your family’s future financial stability with an estate plan tailored to meet your needs. Call our office at 504-541-9026 or send us an email to make arrangements for a consultation.