Outdated Estate Plan
Your Estate Plan should spell out your current wishes in case of your death or incapacity. That is why it is important to periodically review your Estate Plan, including a Last Will and Testament, Trust(s), and Power of Attorney(s), to ensure those Estate Planning documents reflect your current wishes. In the event your Estate Plan does not reflect your current wishes, this could lead to potential risks to your loved ones and yourself and possible legal issues.
We know as time goes on you might change your mind on who you want to be a beneficiary and your Power of Attorney. By reviewing your Estate Planning documents, and updating them if necessary, you will have the peace of mind knowing that the correct beneficiaries will be receiving the assets that you want them to and the person of your choice will be designated as your Power of Attorney. This should deter any conflict, fighting, and possible Succession Litigation among loved ones due to confusion an Outdated Estate Plan may create.
Additionally, laws do change, which is why it is important to ensure that your Estate Plan complies with current law. In the event your Estate Planning documents do not comply with current law, your last wishes might not be met and the State of Louisiana might decide for you on who gets your assets at your death.
For more information on Louisiana Outdated Estate Plan, schedule a free consultation by calling our firm at 504-309-3304 or contact us online.