Baton Rouge Trusts Lawyer

Baton Rouge Trusts Attorney

While most people may think of a will with regard to estate planning, a more powerful and effective tool for some objectives is often a trust. Assets placed in a trust are effectively “owned” by the trust. They can still be used, sold, distributed, and otherwise managed by the trustee, according to the rules of the trust, as designed by a Baton Rouge trusts lawyer.

With a trust, you are able to use and manage the assets as you desire during your life. When you pass on, rather than being considered your property and needing to pass through succession, the trust will continue to own the property. It can then be managed according to the trust’s rules and design. This dynamic is what makes the design of the trust so important with regard to estate planning.

At the Rowe & Manning Law Firm LLC, our estate planning team develops powerful trusts for our clients. They are often a part of our comprehensive estate planning process, along with wills and other documents. We custom-design our clients’ trusts based on their specific goals for their estate plans.

How Do Trusts Differ From Wills?

Trusts differ from wills in many ways. While wills only go into effect upon your death, trusts can be in effect as soon as they’re signed. You can even distribute assets through a trust while you’re still living, which is not possible with a will.

How a Baton Rouge Trusts Lawyer Can Help

The process of putting together a trust starts with understanding our clients’ needs. That’s why we begin with getting a good grasp of our clients’ expectations and objectives. With our experience in estate planning and creating trusts, we can ask questions that get to the heart of what you need out of your estate plan. Often, there are many issues related to trusts that you may not have considered, but we make sure that these critical concerns are addressed.

With a thorough understanding of what our clients need, we then design a trust that is tailor-made to meet their objectives and concerns. While trusts may have similarities with each other, it’s important that they are customized to the unique aspects of each of our clients’ estates. It’s also critical that they meet the expectations of Louisiana regulations so that they may be considered valid.

Depending on the design of the trust, there may be a desire to add new assets, sell or give away assets currently in the trust, or update the rules of the trust. We can help our clients make those kinds of changes to their trusts. It’s important that these alterations be done properly so that they can have the desired effect on your estate management.

What Makes Louisiana Civil Law Different?

Louisiana civil law is a bit different than that of other states due to the impact of the laws in mainland Europe, particularly France and Spain. In the rest of the United States, British common law is the main influence. That’s why it’s important to work with an experienced lawyer who can design a trust that meets the requirements of Louisiana law.

FAQs:

Q: Can a Trust Allow My Estate to Avoid Succession?

A: A trust can allow some of your estate to avoid succession. Generally, it’s very difficult to avoid succession in Louisiana. However, depending on the type of trust that’s created and its design, you may be able to prevent the assets placed within the trust from passing through the succession process.

A skilled lawyer will need to be involved in the process of designing the trust for it to be effective in this way. It’s also important to note that assets not inside the trust will still need to go through succession.

Q: If I Have a Trust, Do I Still Need a Will?

A: If you have a trust, you may still need a will. Both trusts and wills are tools that may be used in the process of estate planning. Each has its strengths and weaknesses and is appropriate for achieving different objectives. A thorough estate plan will often take advantage of both. To understand what will be most effective for your estate, it’s important to talk with an experienced estate planning lawyer.

Q: Why Might I Prefer a Trust to a Will?

A: You might prefer a trust to a will when you’d like to take advantage of some of the benefits offered by a trust. If a trust is designed in a certain manner, it can prevent the assets placed within it from needing to pass through succession. This can lead to possibly having more control over how the assets are managed and distributed. It can also help keep the estate and its distribution private. There may even be tax and other financial benefits to creating a trust instead of a will.

Q: Will a Trust Prevent Conflict Over My Estate After I’m Gone?

A: A trust may not be able to entirely prevent conflict over your estate after you’re gone, but it can often significantly reduce the potential avenues for conflict and dispute. Nothing can eliminate the possibility of conflict, as someone may choose to challenge the validity of the trust or some other aspect. However, a well-crafted trust can often easily stand up to scrutiny.

Let the Rowe & Manning Law Firm LLC Help You Take Advantage of the Benefits of a Trust

Trusts offer some significant advantages in the process of estate planning and management. If you are hoping for more privacy and would like to keep your assets shielded from the succession process, a trust may be an effective tool. There may be some financial and tax advantages that you could benefit from as well. However, for an estate to gain these benefits, a trust needs to be designed and executed properly.

Our team at the Rowe & Manning Law Firm LLC works with some of the most complicated estate plans, of which trusts are often a vital component. We have vast experience in custom-designing trusts that meet our clients’ goals. If you believe a trust might be the right option for you, contact us to discuss your estate.