3813 N. Causeway Blvd., Suite 200 Metairie, LA 70002
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INSIDE
pg. 1
Devoted to Your Faith? Consider Creating a Catholic Estate Plan
pg. 2 Meet Maija Miller: A Paralegal Making a Difference for Families
Jalapeño Popper Soup
pg. 3
The Benefits of a Single Trusted Advisor for Your Most Critical Plans
pg. 4 Understanding the High Stakes of Proper Trust Planning
Avoid Probate Nightmares
The High Stakes of Proper Trust Planning
A trust is an invaluable tool for people who want to pass on assets to heirs without going through probate. Creating a trust also allows a benefactor to set specific boundaries and rules about how the assets in the trust may be used. Unfortunately, many people who create trusts often overlook the most crucial step: funding them. If they do not retitle assets and accounts in the name of the trust, the trust is essentially worthless. A trust without funding is like a safe with nothing in it. These skeletal legal instruments even have their own nickname: a bare bones trust. Any assets or property not properly aligned with the trust may have to go through probate, which is exactly what most people who create trusts are trying to avoid. We are proud to have on our staff an Associate Attorney, Hannah E. Roberts,
whose time and energy are dedicated exclusively to Trust & Wealth Services. Hannah is skilled in examining our clients’ trusts, ensuring they are complete, accurate, and functional, and that they will work exactly as our clients envision. She is dedicated to making sure all your documents are completed correctly. If a trust or trusts are part of your estate plan, you may get a call from Hannah to make sure you have properly transferred your accounts, real estate, and other assets into the trust. She has extensive experience in ensuring our clients’ trusts meet all the requirements for optimal performance: Is your real estate titled in your trust? Is ownership of all your bank accounts assigned to the trust? Is your trust named as the beneficiary of your investment accounts and life insurance? Have you assigned business or LLC shares to your trust? Are both your primary
and contingent beneficiaries accurate and up to date?
If you have any doubts about whether your trust meets all these requirements, don’t hesitate to give us a call! We will be happy to make sure all your documents and property are set up correctly, and your heirs are spared the time, expense, and heartache of probate!
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MorrisonLawPLC.com
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