__MAIN_TEXT__

Page 28

legal



Useful Information For Estate Planning WRITTEN BY CHRISTIE TOURNET

ESTATE PLANNING INVOLVES

Larry Breazeale & Brittany Breazeale Owners, TCB Cleaning Inc.

Shading Places Custom Draperies | Plantation Shutters Blinds | Shades | Bedding 20 Years of Experience Free In-home Design Services

Jennifer Pacione 985-373-4134 | jennpacione@icloud.com MON-FRI 8:30AM-6:30PM SAT 9AM-2PM

“We specialize in Customer Care�

FREE DELIVERY

The best choice for Senior Living in Covington! We have an apartment home for everyone’s size and budget! CALL

985.317.3915 TODAY!

TheTraceSeniorLiving.com 19432 Crawford Road Covington, LA 70433

INDEPENDENT LIVING | ASSISTED LIVING | MEMORY CARE *Based on Annual Lease. Prices, plans and programs are subject to change or withdrawal without notice. Owned and operated by Discovery Senior Living. Void where prohibited by law. Š2018 Discovery Senior Living. TT-0050 12/18

28 Sophisticated Woman | January 2019

✓ Drive-thru ✓ Compounding (non-sterile) ✓ Prescription Transfers ✓ Auto Refills ✓ Text Message Alerts ✓ Senior Care Headquarters ✓ Hospice & Cancer Patient Friendly

(985) 888-1170

Fax: (985) 888-1167 70457 Hwy. 21, Suite 118 COVINGTON

laytonfamilypharmacy.com

more than having a Will. An estate plan should include: Last Will. Yes, this is usually the main component of your estate plan. Careful attention should be devoted to wording and consequences–especially in Louisiana with usufruct and forced heirship concerns. Further, your Will should be consistent with your intentions for transferring non-probate (IRA, life insurance) assets. In addition, parents of minor children need to consider Guardianship and Trustee appointments. Durable Power of Attorney (POA). Arguably, this is the most critical component of your plan for your lifetime. The POA allows another person to act on your behalf (it does not take authority away from you), especially if disability or illness later prevents you from acting. The POA can also prevent your family from filing an interdiction. Beneficiary Designations. Many of your assets, like retirement accounts, can pass to heirs without a Will’s direction. Thus, maintain primary and contingent beneficiary designations that align with the other aspects of your plan. Letter of Intent/Ethical Will. This document can be extremely useful in clarifying your legal documents. You can better direct your Executor (for example, where sentimental items should go), you can point loved ones to a list of assets and accounts, and you can share life lessons. A Living Will or Advance Directive. This document allows you to state your wishes about withholding or withdrawing artificial, life-sustaining measures when you are terminally and irreversibly ill or are in a continual comatose state and you can no longer make your own decisions. An estate plan considers more than simply dividing assets. And while having a Will is a good place to start, it is important to consider the other estate planning tools.

Christie Tournet & Associates, LLC, provides estate planning, estate administration and commercial law services. The practice is located at 1795 W. Causeway Approach, Suite 103A in Mandeville. 985-951-2177, tournetlaw.com.

Profile for Sophisticated Woman Magazine

Sophisticated Woman_January 2019  

Sophisticated Woman_January 2019  

Profile for swmag