What is a Last Will and Testament?

Your Last Will and Testament (also referred to as “Will”) may be the most important document you ever sign. You’ve spent your lifetime saving and investing for yourself, your family and your loved ones, and your Last Will and Testament allows you to leave your possessions behind to the people that mean the most to you.

There are a number of good reasons why you should write a Will, including but not limited to:

  • Designating who you want your assets to go to when you die
  • Designating the executor or co-executor of your estate
  • Minimizing or avoiding federal estate tax
  • Taking advantage of forced heirship laws if you want to minimize what goes to a forced heir
  • Providing for contingencies that might occur such as a spouse or a child predeceasing you
  • Making it easier for your spouse to sell assets you leave him or her
  • Providing that your executor can serve as an independent executor, which can allow your estate to be settled much quicker and without significant court supervision
  • Establishing testamentary trusts for the benefit of those heirs who might need help managing their inheritance
  • If the default law of Louisiana doesn’t distribute your assets the way you want after you pass away
  • If you wish to provide for minors, special needs persons, your church, etc.
  • If you have specific bequests of your personal effects.

What is a Pour Over Will?

Upon your death, your Pour-Over Will controls the disposition of your property not transferred to your Trust, namely your personal effects and your vehicles. These items do not need to be distributed via a court-supervised succession. Your personal effects may be distributed in accordance with your wishes without a court order. Your surviving spouse or heirs may transfer title to your vehicles by supplying a photocopy of your Pour-Over Will to the Office of Motor Vehicles, along with the vehicle title and a copy of your death certificate.

A Pour-Over Will is also different from a regular Will in that it does not need to be probated through a court unless an asset that should have been transferred to your Living Trust during your lifetime was overlooked. In that case, your Pour-Over Last Will and Testament will need to be probated to transfer the asset to your Trust.

LET POCHÉ ESTATE PLANNING LAW FIRM ASSIST WITH YOUR LEGAL ESTATE PLANNING

For over 25 years, Poché Estate Planning Law Firm has worked with clients from all walks of life to plan their estates. We are intimately familiar with all types of and options for powers of attorney in legal estate plans, and we can use our knowledge to help you implement your goals through the use of appropriate estate planning tools necessary to look after your estate.

During your initial complimentary visit at our office, we will discuss what’s important to you; what you hope to accomplish; and the special concerns you may have. We will then help you choose the best “next steps” for your family. After you choose your family’s plan, and with our help and guidance, you will be able to preserve your hard-earned assets and take care of your loved ones in your legal estate plan. We are here to serve as YOUR LEGAL COMPASS TO LIFE!

Please contact Poché Estate Planning Law Firm now to get started. We are ready to help with all of your estate planning needs.