4 Situations That Require Estate Planning in Monroe, LA

Most people are aware that creating a will after entering adulthood is in the financial interest of their loved ones. 

However, turning 18, landing a job, or getting married are not the only life events that should prompt you to meet with Niswanger Law for estate planning in Monroe, LA.

Here’s a quick look at other events and situations that should trigger a review or creation of an estate plan.

Situations That Require Estate Planning in Monroe, LA | Niswanger Law. Image of a male estate-planning attorney listening to a couple discussing their estate plan during an office meeting.

1. Buying or Refinancing a House

The purchase or refinancing of a house is a monumental life event that immediately necessitates reviewing your estate plan. You should amend your will to address who will have the place after you pass away.

There are also tax advantages to holding a house in a living trust. Our estate planning attorneys in Monore, LA are also here to help you establish such a living trust. 

If you refinance your home mortgage, the property might be taken out of the living trust and remain separate from this estate planning tool unless you take action. We are here to ensure such a situation does not occur, guaranteeing you obtain every possible legal and financial advantage from your living trust.

2. Establishing New Financial Accounts

If you start a new savings account, investment account, or other financial accounts, it should be reflected in your will. Neglect to mention these accounts in your will, and you won’t determine their fate in the context of inheritance.

Niswanger Law in Monore, LA can help ensure that a probate court does not determine how your hard-earned assets will be bequeathed. 

Meet with our estate planning attorneys, tell us about your accounts, and we’ll include them in your will. We’ll detail exactly how they will be bequeathed to your beneficiaries.

3. An Inheritance

If a parent, grandparent, aunt, uncle, or other relative passes away, and you inherit money or another asset, you should modify your will to include this financial blessing. 

Meet with Niswanger Law’s estate planning attorneys in Monroe, LA to update your estate plan. You will sleep soundly knowing the money or other inherited assets will be bequeathed to the individuals or charity of your choice.

4. Marriage, Divorce, or the Death of a Spouse

If you get married, get divorced, or your spouse passes away, your will and other estate plan components will no longer be accurate. 

Don’t run the risk of your will passing through the complex and often unjust probate process in Monroe, LA. Instead, be proactive by meeting with our estate planning attorneys, and we will update your will and living trust to reflect your desires for your assets.

The modification of your will addresses both community property and individual property. Our estate planning attorney is here to change the beneficiaries, trustees, and Powers of Attorney based on your preferences for bequeathment.

Schedule a Consultation With Niswanger Law in Monroe, LA

If you don’t have an estate plan or haven’t revised your plan in recent years, now is the time to act. Our estate planning attorneys are here to review and update your will to reflect your desires. 

Contact Niswanger Law in Monroe, LA today at 318.953.0071 to schedule a consultation. If you prefer to reach our estate planning team on the web, complete our contact form, and we will be in touch.