12Law Arrow 12Law Arrow  Easy Questions  
12Law Arrow 12Law Arrow Instant Legal Documents
 
 
FINANCIAL & MARITAL

Cohabitation Agreement coming soon!
Separation Agreement coming soon!
No-Fault Divorce coming soon!
Bankruptcy coming soon!
 
 

Limitations of a Last Will and Testament in Dubach, LA

Limitations of a Last Will and Testament in Dubach, LA


A hundred years from now it will not matter what my bank account was, the sort of house I lived in, or the kind of car I drove...but the world may be different because I was important in the life of a child.
 
- Forest E. Witcraft


Last Wills are a wonderful way of addressing the needs of loved ones in estate planning but not everything can be carried out by your Last Will.

What a will won't do includes the following:

Bequeath Certain Kinds of Assets or Property. You cannot use your will to leave:

• Property that is in the Living Trust

• Life insurance policy proceeds that has a beneficiary in it

• Money in the retirement plan that has beneficiary indicated in its forms.

• Stocks or bonds held in beneficiary and has transfer-on-death or TOD form. If you want to change the beneficiary, contact the brokerage company

• Money in a payable-on-death bank account.

• Joint tenancy. Leaving a property that is not entirely yours but is co-owned with someone else automatically transfers the entire property to the surviving co-owner. Your share that was indicated in your will can only go to it beneficiary if the all owners of the property dies simultaneously.

Direct Funeral Arrangements

It would be wise to make separate documents regarding your wishes and inform your executor its location when needed. It sometimes takes days or weeks for a will to surface after death and memorial services or wishes indicated may not be executed.

Reduce Estate Tax

Having a will won't help evade taxes. If you are expecting your estate to owe federal taxes, start taking steps to decrease your tax liability. In terms of tax bills, there are many trusts that can reduce or for postpone it.

Avoid Probate

Establishing the validity of a will can take months or years of being tied up in a probate court before final contribution of the property commences.

Apply Certain Conditions on Gifts

A gift that is awarded via a will should not contain condition attached like a contingent on marriage, divorce or change of religion of the receiver. You can only include lesser influences like leaving money for a certain person when he goes to college. Making conditional gifts can sometimes open a can of worms because questions will arise as to who will enforce the wills' condition and for how long.

Leave Money for Illegal Purpose

This is a rare situation, but you cannot allocate money for use on something illegal.

Arrange to Care for a Special Need Beneficiary

Long term care for someone with special needs will be better off in a trust that is tailored to the persons' needs. It will not jeopardize government benefits as well as it can provide extra income for the person and its family that can be use in his care.

Leave Money to Pets

Pets should be left to new owners who will take care of them. Leave the money to them to help with your pets' related expenses. Pets cannot own property so leaving property directly to them is not a good idea. Trust are allow in some other states but won't be necessary if you have confidence in the person whom you left your pet(s) with after you pass away.
 
Personalize & Print a Free LA Last Will Create This Document
Page 1
Page 2
Page 3
Page 4
Page 5
Page 6
Page 7
Page 8
Page 9
Page 10
Related Legal Services near Dubach, LA
Young Hoychick & Aguillard LLP
141 S 6th St
Eunice, LA 70535
(337) 457-9331
Personal Injury Law Attorneys, Attorneys, Bankruptcy Services
Mixon & Carroll PLC
107 Riser Loop
Grayson, LA 71435
(318) 649-9284
Attorneys
Carroll James L
107 Riser Loop
Grayson, LA 71435
(318) 649-9284
Attorneys
Pitre Law Offices
100 S Vivian Ave
Eunice, LA 70535
(337) 457-9048
General Practice Attorneys, Attorneys
Pierrotti Rebecca
215 S 2nd St
Eunice, LA 70535
(337) 550-8608
Attorneys
Matt Michael V
140 N 2nd St
Eunice, LA 70535
(337) 457-8260
Attorneys, General Practice Attorneys
Caswell, A Gerard
142 N 2nd St
Eunice, LA 70535
(337) 457-7378
Attorneys,  Personal Injury Law Attorneys,  Wrongful Death Attorneys,  Litigation & Tort Attorneys,
Honey Rock Farm
20359 Brunning Rd
Covington, LA 70435
(504) 577-5240
Estate Planning Attorneys, Attorneys, Wills, Trusts & Estate Planning Attorneys
McManus Law Office
230 S 3rd St
Eunice, LA 70535
(337) 457-4788
Attorneys,  Personal Injury Law Attorneys,  Bankruptcy Law Attorneys,  Wills, Trusts & Estate Plann
Stovall James
80212 Kenzie Rd
Covington, LA 70435
(985) 892-4707
General Practice Attorneys
Brown & Richard
215 N 2nd St
Eunice, LA 70535
(337) 457-4116
Attorneys,  Family Law Attorneys,  Divorce Attorneys,  Social Security & Disability Law Attorneys,  
Clanton & Johnson
121 N 3rd St
Eunice, LA 70535
(337) 457-3365
Attorneys,  Accident & Property Damage Attorneys,  General Practice Attorneys,  Legal Service Plans
Guillory & Bischoff
251 N 2nd St
Eunice, LA 70535
(337) 457-3322
Personal Injury Law Attorneys
Bischoff Clint D
140 N 2nd St
Eunice, LA 70535
(337) 457-3322
Attorneys,  Personal Injury Law Attorneys,  Accident & Property Damage Attorneys,  Legal Service Pla
Young, Randy
162 Dan Dr
Eunice, LA 70535
(337) 457-2946
General Practice Attorneys
Legal Alternatives
PO Box 41889
Baton Rouge, LA 70835
(225) 223-1361
Administrative & Governmental Law Attorneys, Attorneys
Fontenot, John G
140 N 2nd St
Eunice, LA 70535
(337) 457-1323
Employee Benefits & Worker Compensation Attorneys,  Attorneys,  Wrongful Death Attorneys,  Insurance
Burson, Benjamin M
220 N 2nd St
Eunice, LA 70535
(337) 457-1227
Attorneys, Real Estate Attorneys, Estate Planning Attorneys, Legal Service Plans
Brenda R Jenkins Paralegal
73050 Veronica Blvd
Covington, LA 70435
(985) 893-1204
Paralegals
Young At Heart Law Office
440 N 2nd St
Eunice, LA 70535
(337) 550-1115
Family Law Attorneys, Attorneys, General Practice Attorneys
Fontenot John G & Associates
140 N 2nd St
Eunice, LA 70535
(800) 544-0679
Attorneys
Douglas Summerlin
300 Bobcat Drive
Eunice, LA 70535
(337) 381-0299
Attorneys,  Real Estate Attorneys,  Personal Injury Law Attorneys,  General Practice Attorneys,  Emp
Ziegler Fritz B
8 Glen Loop
Covington, LA 70435
(985) 871-0100
Attorneys, Legal Service Plans
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US