— Randy Loewen
NEW ORLEANS, LOUISIANA, UNITED STATES, September 11, 2023/EINPresswire.com/ — Milling Benson Woodward LLP, a prestigious law firm specializing in estate planning, wills, and successions, emphasizes the crucial need for Louisiana residents to have a legally sound will. Partner and wills and succession attorney, Randy Loewen, shares his expert insights on why having a will in Louisiana is not just a recommendation but a necessity for residents.
“Do You Have a Will? Why You Should”
In a recent discussion, Randy Loewen highlighted, “Having a will in Louisiana is important for several reasons. Deciding before your death what will happen with your estate will give you and your family members peace of mind.” He further delved into the unique aspects of Louisiana’s legal system, stating, “Louisiana has some unique aspects to its legal system that may make having a will especially crucial.”
Forced Heirship Laws: A Louisiana Specific
Louisiana’s “forced heirship” laws dictate that a portion of an individual’s estate is automatically reserved for descendants like children and grandchildren. Loewen emphasizes the importance of acknowledging this unique concept when planning your estate, especially for those with young or disabled children.
Gaining Control Over Estate Distribution
Without a will, Louisiana’s intestacy laws take over, and they might not be aligned with the deceased’s wishes. Loewen advises, “Creating a will gives you control over how your assets are distributed after your death. This enables you to make charitable donations, provide for loved ones, or leave specific assets to specific individuals.”
Avoiding Family Disputes Through Wills
Family disputes over estate distribution can lead to strained relationships and lengthy court battles. A well-drafted will minimizes these risks. “By specifying your wishes in a will, you can reduce the likelihood of legal conflicts and protect your family’s relationships,” notes Loewen.
Nominating Guardians and Efficient Probate Process
In addition to covering how your assets will be distributed, a will can be instrumental in nominating guardians for minor children and streamlining the probate process, making it quicker and less costly.
The Benefits of Professional Estate Planning
A comprehensive will can also aid in tax planning and business succession, ensuring that more of your assets go to your intended beneficiaries and less to the state in the form of taxes. Loewen concludes, “It’s advisable to consult with an attorney experienced in Louisiana estate planning to create a legally valid and comprehensive will.”
Article originally published on www.einpresswire.com as The Importance of Having a Will in Louisiana Explained by Randy Loewen, a Partner with Milling Benson Woodward LLP.
originally published at HUMAN RIGHTS - USA DAILY NEWS 24