Estate Planning & Business Succession in Lafayette, Louisiana

Planning for Your Family

Estate planning is about making sure the people you care about are provided for and that your wishes are carried out if you die or become unable to make decisions. Louisiana's civil-law system has its own rules on inheritance, community property, and the rights of a surviving spouse and children, so a plan should be built with Louisiana law in mind.

Services for Individuals and Families

• Wills and trusts. In Louisiana a will is called a testament. A testament directs who receives your property and names an executor. Trusts can be used to manage property for children, a surviving spouse, or other beneficiaries.
• Powers of attorney. A power of attorney (in Louisiana, a mandate) lets someone you trust handle financial and legal matters if you cannot.
• Health care documents. Advance directives allow you to state your wishes about medical care.
• Louisiana successions. When a loved one dies, the legal process of transferring their property is called a succession. We help families through the process. See How Louisiana successions work.

Louisiana Rules to Know

Louisiana is one of the few states with forced heirship, which can require a portion of an estate to pass to children who are under 24 or who are permanently unable to care for themselves. Louisiana is also a community property state, and a surviving spouse may have a usufruct (a right to use and enjoy) over certain property. A thoughtful plan accounts for these rules.

Succession Planning for Business Owners

For business owners, a family estate plan and a business succession plan should work together. Without planning, the death or disability of an owner can leave a company without clear leadership and leave family members with an interest they cannot easily use or sell. We help owners with:

• Buy-sell agreements among owners
• Operating agreement terms for death, disability, and retirement
• Ownership transition planning to family members or key employees
• Coordinating business documents with wills and trusts

Common Questions

Do I need a will if I do not have much property? Often yes. A testament lets you name an executor and direct who receives your property, and it can make the succession simpler for your family.

Is a will from another state valid in Louisiana? Frequently, but it should be reviewed, especially if you now live in Louisiana or own Louisiana property.