Trust Lawyer Shreveport, LA
If you plan to transfer any of your assets to your children – either while you are living or after you have passed away – schedule a consultation with an experienced Shreveport, LA trust lawyer at Theus Law Offices. Once our knowledgeable legal team has evaluated your wishes, priorities, assets, debts, and property, we will provide you with objective feedback concerning your estate planning options. Our firm has extensive experience with asset transfer from parent to child(ren) in ways that preserve the value of the assets in question, reflect intelligent tax strategy, and reflect the wishes of the parent to the letter of the arrangement.
One of the estate planning strategies that the trusted legal team at Theus Law Offices will consider when evaluating your estate planning needs is the process of creating a trust. Trusts can be constructed to transfer assets while you are still living or may alternatively be constructed to transfer assets after you have passed away. The kind(s) of trusts that may benefit you and your children will depend upon your financial situation, your needs, and your priorities.
How Creating a Trust Can Benefit Your Children
Estate plans are meant to serve largely as “living legal tools,” meaning that they may generally be updated, edited, or revoked for as long as you live. Some trusts are irrevocable, while others are not. In either event, our Shreveport, LA trust lawyer team will be able to advise you concerning how each kind of trust functions, what potential benefits it brings to the table, and its potential drawbacks. Some of the reasons why setting up trusts (as opposed to simply transferring assets via a will) is such an attractive option is that certain trusts help to minimize tax burdens, help to preserve the value of certain assets, and help heirs to largely forego the probate process… at least concerning the assets governed by the trust. Assets not governed by a trust – and instead gifted through a will – may be subject to certain tax liability, sale for the benefit of creditors, and other hassles connected with the probate process.
Legal Assistance Is Available
If you have not yet scheduled a risk-free estate planning consultation with the trusted Louisiana legal team at Theus Law Offices, please do so now. None of us knows how much time we will be granted before our estate plans become urgent business for our loved ones and creditors. By taking a proactive approach to the estate planning process, you will better ensure that your assets are transferred exactly as you intend them to be and that your beneficiaries are spared as much stress and trouble as is possible concerning your estate in the wake of your death. Considering a time during which you will no longer be around to care for your loved ones can be undeniably challenging. However, it is important to speak with an experienced Shreveport, LA trust lawyer sooner rather than later for these reasons and more; we look forward to meeting with you.