re: What should I avoid per a trust and will? Lawyer? No lawyer?

Why not put next egg money in the trust?

All of my assets were transferred to my trust when it was formed. We also have a clause that transfers any new assets into the trust upon death.


Don't sign anything that you don't understand. Ask questions until you do.

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In the great majority of cases, going through probate with a simple will is easier and cheaper than settling up a trust. The first question you need to ask is why you need a trust. If the best answer is that it is a way to avoid probate, be skeptical.

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Damn someone knows what they are talking about.

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Is it true that if you die in Louisiana, your non joint assets would be designated to your children and not your spouse (I assume my wife would control the funds until they turned 18)? I was thinking about setting up a trust just to avoid a scenario like this. My kids are young and no red flags yet, but lord knows what my dumb arse woulda done with a chunk of money at 18.

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Separate property goes to the kids. When they turn 18, all bets are off. You can have a testamentary trust in your will to prevent that. You can decide on its distribution, or just give them an income interest for life. There may be some forced heirship issues until they are 24.

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Also, if most/all my liquid accounts have designated beneficiaries,

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It depends what those liquid accounts are. For example, they started doing TOD accounts in Louisiana in 2021, but the actual transfer of those assets does not occur just because of the TOD designation. Practically they do, but the asset still needs to be transferred by judgment of possession.

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would a lawyer charge less for the succession since the dollar amount of the estate would be smaller and the work less complex?

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Generally, no. $3,500 seems a little high for a basic estate plan, but practically it's only about 10-12 hours of work for most attorneys.