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Starting a trust in louisiana
Posted on 4/14/24 at 9:03 am
Posted on 4/14/24 at 9:03 am
What would be your top picks…trust to family members
This post was edited on 4/14/24 at 8:25 pm
Posted on 4/14/24 at 9:06 am to tigers1956
Need much more info than that.
Posted on 4/14/24 at 9:47 am to tigers1956
State? Net worth? Type of assets? Who are the beneficiaries? Beneficiaries have any health, spousal, or financial issues?
Posted on 4/14/24 at 10:56 am to tigers1956
You should definitely provide as little information as possible to answer this question.
Posted on 4/14/24 at 2:00 pm to tigers1956
REITs for real estate
Irrevocable for everything else
But this is a complex question and as others have said, we need more info to provide insight.
Irrevocable for everything else
But this is a complex question and as others have said, we need more info to provide insight.
Posted on 4/14/24 at 4:35 pm to tigers1956
What kind of trust?
How to invest inside one?
How to invest inside one?
Posted on 4/14/24 at 7:59 pm to tigers1956
What is your goal with a trust? If you can answer that we can at least start to ask more questions to point you in the correct direction.
Posted on 4/14/24 at 8:06 pm to tigers1956
Discussed the situation with my family. I'm lucky that the only heirs are my brother and I. We have zero issues splitting things 50/50 and have agreed to never sell the family home or land. My parents are totally on board with all that. My parents have also agreed to never sell any of it.
Did a cursory interwebz search for general details regarding my family's particular situation. This pointed me in the direction of what type of law firm needed.
I searched for that type of firm in my area. Read reviews. Narrowed it down to one that felt right based on the above. Ran that by my family. They were all good with it.
Gave that firm a call and asked as many questions as I could to see if it was worth making an appointment with them. It was. Ran it by my family again. Set the appointment.
Ended up seeing the lawyer for 2 sessions and then signing the papers.
I feel much more at ease knowing that our bases should be covered. The cost was $10,500 to set up the irrevocable trust, power of attorney, etc along with a handful of provisions pertinent to my brother and I. Also, paid a bit extra to cover our asses in case of any divorce or potential lawsuits.
Sleep easy at night.
Did a cursory interwebz search for general details regarding my family's particular situation. This pointed me in the direction of what type of law firm needed.
I searched for that type of firm in my area. Read reviews. Narrowed it down to one that felt right based on the above. Ran that by my family. They were all good with it.
Gave that firm a call and asked as many questions as I could to see if it was worth making an appointment with them. It was. Ran it by my family again. Set the appointment.
Ended up seeing the lawyer for 2 sessions and then signing the papers.
I feel much more at ease knowing that our bases should be covered. The cost was $10,500 to set up the irrevocable trust, power of attorney, etc along with a handful of provisions pertinent to my brother and I. Also, paid a bit extra to cover our asses in case of any divorce or potential lawsuits.
Sleep easy at night.
Posted on 4/15/24 at 9:34 am to tigers1956
I'm going to make an assumption that a trust is not right for you based on this post. Please don't do it. Just do a will to spell out what you want to happen to your estate.
Posted on 4/16/24 at 6:53 pm to tigers1956
You need to talk to an estate attorney. Probate law is unique in Louisiana compared to other states and there are more options.
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