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!
 
 

What is a Last Will and Testament in Mathews, LA

What is a Last Will and Testament in Mathews, LA

A Last Will and Testament is the first building block of a good estate plan. Estate planning is the process by which an individual or family arranges the transfer of assets in anticipation of death.

Option 1: Will-Based Estate Plan

All essential details of your Last Will and Testament will be outlined in the will-based estate plan. It will provide information including the person to be put in charge of settling your final affairs (the executor), the persons who will inherit your property (beneficiaries), and the provisions on how they will inherit it. Your last will and testament with a will-based estate plan will cover the following:

1. Who will serve as the personal representative/executor

2. What powers your personal representative/executor will have

3. Who will inherit your property

4. How and when your property will ultimately be transferred to your beneficiaries

5. Who will serve as guardian of your minor children until they become adults


Option 2: Trust-Based Estate Plan

In the trust-based estate plan a document called a revocable Living Trust will cover all the important points listed above in the will-based estate plan with one exception: the person in charge of settling your final affairs after you die is called an administrative or successor trustee instead of an executor. If you have a revocable living trust you will still need a Last Will and Testament so. Ideally, you will fund or move your assets into your trust before you die. If you fail to fund even one asset into your trust, then the last will and testament will be the necessary document that will "catch" the unfunded property and transfer it to your trust after you die. The last will and testament in this case will function as a pour over will that will cause the unfunded assets to "pour over" into your trust through a probate process.


A pour over will needs to cover:

1. Who will be in charge of your assets that were not funded into your trust as the personal representative/executor

2. What powers your personal representative/executor will have

3. Who will serve as guardian of your minor children until they become adults

4. What will happen in the absence of a Last Will and Testament?


In order for your property to go to the beneficiary of your choice after you are gone, a Last Will and Testament is recommended.


The absence of a will could result in the state providing a last will and testament on your behalf under the state's intestacy law. The laws of the state that your property is located in will prevail. This can get complicated if you own property in multiple states.

 
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 Mathews, LA
Slaid Jack W
28 Reynolds St
Springhill, LA 71075
(318) 539-6511
Attorneys
Stewart Ken
5681 Commerce St
Saint Francisville, LA 70775
(225) 635-6006
Accident & Property Damage Attorneys, Attorneys, Legal Service Plans
Picou, Sydney
11545 Ferdinand St
Saint Francisville, LA 70775
(225) 635-5832
Attorneys, Legal Service Plans
Notary Direct
3008 E Judge Perez Dr
Meraux, LA 70075
(504) 271-5000
Attorneys
West Feliciana Parish Of
11651 Ferdinand St
Saint Francisville, LA 70775
(225) 635-4612
County & Parish Government,  Attorneys,  Police Departments,  Government Offices
Wray & Pierce LLP
10182 Weevil St
Saint Francisville, LA 70775
(225) 635-3920
Construction Law Attorneys, Attorneys
Hesse & Butterworth LLC
11729 Ferdinand St
Saint Francisville, LA 70775
(225) 635-3839
Attorneys,  Personal Injury Law Attorneys,  Litigation & Tort Attorneys,  Real Estate Attorneys,  Co
Diane Blanchard Consulting Inc
10587 Goldilocks Ln W
Saint Francisville, LA 70775
(225) 635-3327
Attorneys Referral & Information Service
Kilbourne & Dart
4782 Prosperity St
Saint Francisville, LA 70775
(225) 635-3291
General Practice Attorneys, Attorneys, Legal Service Plans
TNT Investigations
3120 Mayflower Street
Meraux, LA 70075
(504) 301-2933
Civil Litigation & Trial Law Attorneys, Private Investigators & Detectives, Divorce Assistance, Crim
Shane P Landry
12216 Jackson Rd
Saint Francisville, LA 70775
(225) 635-2728
Attorneys
McConnell & Slattery
121 S Main St
Springhill, LA 71075
(318) 539-2561
Attorneys
Slattery Jr John B
121 S Main St
Springhill, LA 71075
(318) 539-2561
Attorneys
Smith & Jacobs APLC
101 N Main St
Springhill, LA 71075
(318) 539-2557
Attorneys
Andrew D'aquila Law Firm
10182 Weevil St
Saint Francisville, LA 70775
(225) 635-2020
General Practice Attorneys, Attorneys, Legal Service Plans
Willis Daniel K
11850 Ferdinand St
Saint Francisville, LA 70775
(800) 256-1977
Attorneys
Marais LLP
15560 Gore Rd
Saint Francisville, LA 70775
(225) 634-0700
Attorneys
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US