Monday - Thurs8AM - 5PM
Fri8AM-1PM
Offices4608 Rye St Metairie, LA 70006
PRACTICE AREASEstate Planning Attorney – Slidell & Metairie
Estate planning allows you to make important decisions about your property, finances, healthcare, and the people you want to protect in the future. A well-prepared estate plan can help ensure that your wishes are carried out, provide for your loved ones, and make the process of managing your affairs easier if you become unable to make decisions for yourself. At Frank D’Amico, Jr., we help individuals and families develop estate plans that reflect their goals, protect their assets, and address important family and financial concerns. We can also review and update existing estate plans as your circumstances change.
Common Estate Planning Issues
- Wills– Creating a legal document that explains how you want your property and assets distributed after your death.
- Trusts– Establishing trusts to manage and distribute assets according to your wishes and, when appropriate, help address estate administration concerns.
- Powers of Attorney– Naming someone you trust to handle financial or legal matters if you become unable to manage them yourself.
- Healthcare Directives– Establishing your wishes regarding medical care and appointing someone to make healthcare decisions when you cannot do so.
- Asset Protection– Developing strategies to help protect and preserve your assets for yourself and your beneficiaries.
- Beneficiary Designations– Reviewing beneficiary designations on retirement accounts, life insurance policies, and other assets to help ensure they reflect your wishes.
- Guardianship for Minor Children– Naming individuals you trust to care for your children if you are no longer able to do so.
- Estate Tax Planning– Considering potential tax consequences and planning strategies that may help preserve assets for your beneficiaries.
- Business Succession Planning– Developing a plan for the transfer or continuation of a family-owned or closely held business.
- Updating an Estate Plan– Reviewing and modifying your estate plan after major life events such as marriage, divorce, births, deaths, or significant financial changes.
Frequently Asked Questions
Why do I need an estate plan?
An estate plan allows you to make decisions about what should happen to your assets and who should handle important matters on your behalf. Without an appropriate plan, your property and affairs may be handled according to applicable law rather than your personal wishes.
What documents are typically included in an estate plan?
Depending on your circumstances, an estate plan may include a will, trust, power of attorney, healthcare directive, beneficiary designations, and other legal documents designed to address your financial and personal wishes.
What is the difference between a will and a trust?
A will generally provides instructions for distributing assets after death, while a trust can hold and manage assets according to specified terms. Whether a trust is appropriate depends on your assets, family circumstances, and estate planning goals.
Do I need an estate plan if I do not have significant assets?
Estate planning is not only for wealthy individuals. Even if your estate is modest, an estate plan can help address important decisions concerning your property, healthcare, finances, and loved ones.
What happens if I become unable to make my own decisions?
Documents such as powers of attorney and healthcare directives can allow you to designate trusted individuals to make financial or medical decisions on your behalf when you are unable to do so.
Should I update my estate plan after getting married or divorced?
Major life events can affect your estate planning wishes and beneficiary designations. Marriage, divorce, the birth or adoption of a child, the death of a beneficiary, or significant changes in your finances may be reasons to review your estate plan.
Can I protect my children through estate planning?
Estate planning can help address the financial and personal needs of minor children. You may be able to designate a guardian and establish arrangements for managing assets intended for your children.
What happens to my estate if I die without an estate plan?
If you die without a valid will or other appropriate estate planning documents, your property may be distributed according to state intestacy laws. A court may also need to determine who will administer your estate and, in some circumstances, address guardianship issues involving minor children.
How often should I review my estate plan?
There is no single schedule that applies to everyone, but it is generally wise to review your estate plan periodically and after significant changes in your family, finances, or personal circumstances.
Do I need an attorney for estate planning?
Estate planning can involve complex legal, financial, and family considerations. Frank D’Amico, Jr. can review your circumstances, explain your options, and help create or update an estate plan designed to protect your assets and carry out your wishes.