Protect Your Assets
Preparation of a Living Will gives you and your loved ones the peace of mind that your assets, surviving spouse, and children will all be protected.
Protect Your Spouse
A Living Will can protect what you own while you are alive in many ways, such as: protection from nursing home expenses, minimizing your income tax, avoiding any guardianship proceeding in the event you become incapable, protection of your assets if you are sued.
A Living Will gives your surviving spouse the security he/she needs by arranging for your assets to be available to your spouse in the event you become deceased. This will assure your assets will be retained by your living spouse, instead of being transferred to your children or others. The Living Will can assure that your assets are arranged so that your spouse will have the permission to sell your home, other real estate, or other assets after your death, without having to obtain permission from your children or others. The Living Will eliminates the possibility that your children could force your spouse to sell assets and/or pay them their inheritance.
Protect Your Children
A Living Will allows you to set up your estate plan, avoiding proceedings and allowing you to dictate who raises your children and who handles their inheritance after your death. You will have the ability to avoid leaving assets to in-laws, particularly if your children have gone through a divorce or get divorced in the future. Prepare a Living Will that will arrange your affairs as so to avoid unnecessary taxes. Protect the inheritance of any and all of your children in your Living Will.
If no Living Will exists, the following individuals have priority in making the decisions of your assets:
1. Any person previously authorized, by a secure document, to make the living will if you are unable
2. Court appointed legal guardian if one has been appointed
3. Your spouse
4. An adult child of yours
5. Your parents
6. Your sibling
7. Your other ascendants or descendants
Power of Attorney
Specific Power of Attorney - a document by which one person (called the “principal”) authorizes another person (called the “attorney-in-fact”) to act for him/her in a specific manner in designated transactions.
Other types of Power of Attorney offered include: General Power of Attorney, Special Power of Attorney, & Medical Power of Attorney.
Are you starting a business? Not sure where to begin? We can help!
The Title Source of Louisiana, LLC can assist you in planning your business by making key financial decisions and completing legal activities necessary to start your business. Ask us about reserving your business name with the Secretary of State until you are able to complete the business filing.
Are you looking to update or research a business?
The Title Source of Louisiana, LLC can assist you in ordering Copies or Certificates online, Searching the Commercial Database, Obtaining and Filing Forms, Filing Annual Reports, Filing Amendments, or Locating Fee Schedules. We can also assist you in Administrative Services and Notary Database Searches.
SCORE (Service Corps of Retired Executives) is a non-profit organization that provides free business counseling.
LSBDC (Louisiana Small Business Development Center) offer advice about business plans, grants, etc.