Reviewing Estate Planning Options As A Grandparent

Reviewing Estate Planning Options As A Grandparent

Many individuals in Louisiana and elsewhere may encounter a desire to make changes to their goals for the future upon experiencing certain changes in life. Those who recently had the pleasure of welcoming a grandchild into the world may wish to take steps to protect and provide for the child’s needs. Although there may be a variety of estate planning tools to help grandparents achieve such goals, some might not be certain of which of these options best fits their situation.

Legal Peace Of Mind Is Just A Click Away

Call For A Consultation 225-763-2272

Addressing the options

Experts indicate that grandparents may have various options to choose from when wishing to leave money to a grandchild. As gifting money in excess amounts at one time could trigger costly tax fees, one may feel more inclined to seek out options to shield his or her loved ones from similar concerns. Some potential options could involve setting up a trust and listing the grandchild as beneficiary or making annual gifts in amounts that do not exceed certain limits.

Gaining insight on tax rules could play an essential role in helping a person prepare to make informed decisions about the available options. In some cases, grandparents may also find it helpful to teach their grandkids about financial responsibility and evaluate their ability to manage funds as they grow up prior to deciding on a path. Such endeavors may not only limit the odds an inheritance may be wasted but it could also help one’s grandkids better prepare for the future.

Advice on the options

Grandparents who wish to better understand all their available estate planning options and how to choose a path that best aligns with their wishes could benefit from seeking advice from an experienced attorney. An attorney in Louisiana can evaluate all a client’s wishes and needs and assist in creating a plan that best fits his or her preferences. Such guidance could be essential to helping place a person in a better position to provide for and protect the future interests of his or her grandkids.

Recent Posts

Categories

Archives

Over 40 years of Experience

Accessible. Accommodating. Your Partners In The Legal Realm

We are not just your attorneys, but your partners in the legal realm. As in any partnership, we believe communication is key. We ask the right questions to learn about your situation and goals. Then we work with you to design a resolution strategy that makes the most sense for you or your business.

As your case progresses, you will find that we are easily accessible by phone, text or email. We strive to be accommodating in setting appointments around our clients’ busy schedules, even if that means early mornings or late evenings. We pride ourselves on creating a welcoming, helpful environment.

Call For A Consultation 225-763-2272

The Partnership

Begins With A Consultation

Andrew B. Ezell & Andrew K. Nicolas
Andrew B. Ezell & Andrew K. Nicolas

contact us today

Fields marked with an * are required

"*" indicates required fields

I Have Read The Disclaimer*
This field is for validation purposes and should be left unchanged.