Revocable Living Trust Planning…Is It Really Worth It?

By | 2018-01-29T13:08:05-06:00 May 25th, 2017|0 Comments
Yesterday afternoon I met with an older couple from Lafourche Parish to finalize and sign their Louisiana Revocable Living Trust documents. This couple owned many parcels of real estate in the Houma/Thibodaux area, and ultimately it was a difficult task for our firm to track down all the real estate they owned. As a result, the process of completing their trust took much longer than the 4-6 weeks it typically takes to establish a Louisiana Revocable Living Trust. At the end of the meeting, the wife asked me, was all this work really worth it?
Without a doubt the answer was YES! Without the trust, the couple would have gone through two lengthy probate procedures (one for each spouse) and the family would have racked up at least $10,000 – $15,000 in attorney’s fees and court costs to complete the two probates. The trouble we encountered tracking down all of their property ownership would have only been multiplied in the court supervised Louisiana Succession process, and in order to transact estate property, the surviving spouse would have been forced to endure a probate procedure that would likely take much longer than the process of establishing their trust.
Now, with their Louisiana Revocable Living Trust, the surviving spouse will not be required to take any action or incur any probate expenses after the first spouse passes, and the family will have quick and easy access to those assets after both spouses pass away. If you would like to learn more about avoiding the high costs, long delays, and government interference of Louisiana Probate for your Family, call (504) 274-1980 in the Metairie and New Orleans Area or call (985) 246-3020 in Mandeville, Covington, Slidell, Houma, Thibodaux, and surrounding areas.