You may be currently facing this dilemma: You’ve retired (or you’re approaching retirement) and, while you want to maintain your current standard of living, you also want to preserve as much of your wealth as possible for your family. This balance can be difficult to achieve, especially when your retirement can last decades. One strategy […]Continue reading

Estate planning has a language all its own. While you may be familiar with common terms such as a will, a trust or an executor, you may not be as certain about others. For quick reference, here’s a glossary of key terms you may come across when planning your estate: Administrator. An individual or fiduciary appointed […]Continue reading

Irrevocable trusts can allow for the smooth, tax-advantaged transfer of wealth to family members. But there’s a drawback: When you set up an irrevocable trust, you must relinquish control of the assets placed in it. What you can control is who will eventually oversee distribution of assets after your death. However, sometimes — particularly when the trust […]Continue reading

Does your estate plan call for making gifts to your grandchildren or other loved ones more than one generation below you? Or, perhaps to you want to leave assets to nonrelatives who are decades younger than you? If so, your plan must address not only gift and estate taxes, but also the generation-skipping transfer (GST) […]Continue reading

Few things can derail your estate plan as quickly as unanticipated long-term care (LTC) expenses. Most people will need some form of LTC — such as a nursing home or an assisted living facility stay — at some point in their lives. And the cost of this care is steep. Contrary to popular belief, LTC […]Continue reading

Estate planning isn’t just about sharing wealth with the younger generation. For many people, it’s equally important to share one’s values and to encourage their children or other heirs to lead responsible, productive and fulfilling lives. One tool for achieving this goal is an incentive trust, which conditions distributions on certain behaviours or achievements that […]Continue reading

Not only is April 15 the deadline to file a 2023 income tax return and pay any taxes due, it’s also the deadline to file a gift tax return. If you made substantial gifts of wealth to family members in 2023, you may have to file a gift tax return. It’s due by April 15 […]Continue reading

New Orleans Probate Lawyer As a top probate lawyer in New Orleans, LA knows, the estate planning process can be highly involved and sophisticated, with many legal requirements. One area of estate planning that is important to have a basic understanding of is the probate process. Probate, or succession, occurs when an individual dies, and […]Continue reading