Trusts, when used effectively can provide tremendous value to your estate plan. Creating a trust allows you to put your assets into the trust and have it distributed to your heirs according to the rules and stipulations you set forth, and without having to file to open a succession. Trusts can either be set up while you are alive or in your Last Will and Testament. The trusts you set up can either be Revocable (you can change the trust after its creation) or Irrevocable (you cannot change the trust after you create it.)
Some reasons to include a trust in your estate plan is to protect your assets that are possibly being inherited by minor children, protecting heirs with special needs, tax benefits, or simply for privacy as trusts are not part of the legal probate/succession process in Louisiana.
Our office is happy to help you decide whether creating a trust is right for you, what type of trust you should create, and how it should be administered.