Placing Educational Conditions on Inheritance
I met with a family from Belle Chasse yesterday to discuss some ideas on how to include their grandkids in their estate planning. The grandparents were adamant that any amounts inherited by those grandchildren would first be used for their [...]
How You Can Decide the Tax Implications of Your Inherited IRAs
A client in the Houma area recently asked me how tax-deferred IRA’s are taxed when they go to a beneficiary. The answer all depends on the structure of your Louisiana Estate Plan and the wishes of your beneficiary, but it [...]
Get Power of Attorney Before It’s Too Late
Yesterday morning I spoke with a lady from Metairie whose mom is currently in a nursing home due to her dementia. Mom never signed a power of attorney, and the daughter has run into issues in managing her mother’s accounts [...]
Leave Your Louisiana Estate by Percentage instead of by Dollar Amount
I was meeting with a client in Mandeville this week, who had a clear idea of how he wanted his assets divided amongst his kids and grandkids. He wanted his 2 kids to get $350,000 each and his 3 grandkids [...]
How to Remove Assets from an Irrevocable Trust
This week, I met with a client to discuss a Louisiana Medicaid Trust to protect the family’s assets from long term care costs. These Medicaid trusts must always be termed as irrevocable trusts. When a trust is irrevocable, you give [...]
Early Alzheimer’s Diagnosis Changes Your Approach to Estate Planning
Yesterday, I met with couple facing a difficult situation. The husband, in his 50’s, was recently diagnosed with early onset Alzheimer’s. This harsh news forced the family to evaluate their plans for the future. With such an early diagnosis, both [...]