Supporting your parents -what will it cost you?

While only about a third of aging parents believe they may need long term care, the fact is that about two-thirds of them actually will need it. In many cases, financially successful children have to step in to pay for their parent’s care. There is obviously a very...

How do I change or revoke a will?

Your will does not take effect until you die. You can create a new will or revoke or amend an existing will up until your death. A will remains valid until properly revoked or superseded. Revoking your will must be done very carefully. Most state laws require that the...

Why do couples avoid retirement planning?

Is the wife mostly to blame? Fewer than half of married couples do any retirement planning at all. A focus group conducted by Hearts & Wallets showed that husbands can get frustrated that wives show no interest at all in retirement planning. One man reported that...

Divorce trumped by beneficiary form

It happens all the time: someone gets divorced but does not think to change the beneficiary of their life insurance and other benefits. Louisiana has some specific laws governing what happens when someone divorces but still has the ex listed as their beneficiary on...

Joint wills are null in Louisiana

I think most lawyers in Louisiana run into this problem: husband and wife want to do a “joint” will leaving everything to each other. When they are told they cannot do a joint will, they become suspicious that perhaps the lawyer is just trying to inflate the price by...

Discussing prenups with clients

One of the hardest discussions to have with clients is whether a prenup agreement is advisable. I once had a client who assured me that his intended wife was fully on board with the idea of a pre-marital agreement. When they came in, she took one look at the document,...