Estate Planning for Your Pet

As dedicated pet owners, we understand how much your furry, feathered, or scaly friend means to you. Ensuring their well-being even after you’re gone is a vital part of responsible pet ownership. Here are some essentials of estate planning for your pet.  And, here is the Ultimate Pet Guide for your pet.  Or, do you need something specific for your dog or your cat?

Why Estate Planning for Your Pet Matters

While it’s difficult to think about, planning for your pet’s future is crucial. You can’t leave money or property directly to your pet, as pets are legally considered property. However, you can provide for their care using your will or a living trust. Here’s how…

Wills vs. Pet Trusts: What You Need to Know

Wills:

In your will, you can name a trusted person to care for your pet after you’re gone. You can also allocate some money to help with their care. However, keep in mind:

• The person you name will legally own your pet, but there’s no obligation to use the funds specifically for your pet’s care.
• There’s no legal recourse if the money is spent elsewhere.

Pet Trusts:

A pet trust offers a more robust solution. It allows you to leave both your pet and funds to a designated caretaker along with a legal obligation to use the money for your pet’s care. Some pros and cons for you:

• Pros: There is a legal obligation which ensures your pet is cared for according to your specific instructions and provides oversight on how the funds are used.
• Cons: Setting up a pet trust can be more expensive than a simple will. Once established, it can be challenging to modify if circumstances change after your death.

Planning Ahead for Peace of Mind

While planning for your pet’s future is not an easy task, it’s an essential part of responsible pet ownership. By taking these steps, you ensure that your beloved companion will be cared for, even if you’re no longer able to provide for them yourself.

Remember:

Addressing these concerns now provides you with tremendous peace of mind and security for your pet’s future.

If you have any questions or need assistance in setting up a pet trust or updating your will, contact us!

Pet Plans When You Die

Like in other parts of your life, we encourage you to plan for your pet in case something happens to you.  Your companion, whether it is a dog, cat, horse, rabbit or any other furry or scaly friend, will need care if something happens to you.

How to plan for your pet – who, what, where, when, how

Choose Someone to Take Care of Your Pet

Think of someone and then with who you have chosen and confirm that they agree with your plan.  Also, confirm that your friend will actually take care of your pet in the manner you want.  And, that your friend’s family is also in agreement.  Don’t forget to make sure your friend knows your pet and loves your pet like you do.

Get Your Pet Ready

Introduce your chosen caretaker (and family) to the Ultimate Dog Guide, Ultimate Cat Guide, or Ultimate Pet Guide and input all of the important information for your pet.  Review the guide with your friend and family and confirm again that they are the right person to care for your companion.  Some people may not be up to it if your pet has special needs.  Get your friend to answer honestly.  This is a BIG decision for you.

Will Change or Trust?

If your friend does not have the means, or if you think paying for your pet may cause resentment in your friend, change your will to include funds for your pet.  Also, specifically designate your pet is going to your friend in your will.  You can also create a trust for your pet and provide funds that will pay for pet care.  Add in veterinarian visits and care as outlined in the Ultimate Pet Guide – like medications, grooming, treats, boarding if your chosen caretaker goes on vacation.  Don’t forget you may want to prepare and designate a burial place for your pet.

Pet Insurance

For added peace of mind, consider pet insurance that is for emergencies and also routine care.

Don’t let your best friend and pet go to a shelter if you die or are too sick to care for it.  Make a plan now.

Have you completed your own Ultimate Life Guide?

Eight Tips to Care for Aging Parents/Loved Ones

We often get questions on how to best support our parents/loved ones as they grow older.  Below are some key tips.  Also, be on the lookout for our newest product that is launching soon.  We will have our Ultimate Care Giver Guide available on our website.

1: Communication

Keep the conversation flowing and ask how you can help.

• • To Do: Ask your parent what they’re worried about and how you can assist

2: Health and Wellness

Encourage a healthy diet, staying active, and regular check-ups. Small changes, big impact!

• • To Do: Assign someone (yourself, sibling, friend, relative) to ensure doctor visits are kept

3: Financial Planning

Help organize retirement savings, insurance, and estate planning. It’s never too early!

• • To Do: Keep important documents in one easy-to-find place like the Ultimate Life Binder. If needed, designate a point person to manage finances.

4: Home Safety

Make their home safe and accessible.

• • To Do: Install grab bars, remove trip hazards, and use brighter light bulbs

5: Medication Management

Keep track of their medications.

• • To Do: Set up a system for the right doses at the right times

6: Long-Term Care Options

Know the different care options available, like assisted living or home healthcare.

• • To Do: Research in advance to save time and stress later

7: Legal Matters

Discuss and organize wills, power of attorney, and healthcare directives.

• • To Do: Know where these documents are and create them if they don’t exist

8: Self-Care for You

Don’t forget to care for yourself too! Balancing your needs with your parents’ is crucial. Prioritize self-care and seek support when needed.

If you or your parent/loved one needs assistance with estate planning, contact us today.

The Ultimate Child Guide is NOW Available!

Are you tired of scrambling to jot down your child’s important information every time you need a babysitter or caregiver?  Do you worry about leaving your little one in someone else’s care without providing all the necessary details?  What about staying at your in-laws??

Stress-free nights away from your children are officially here!

We understand the challenges of parenting in today’s fast-paced world.  That is why we’re beyond thrilled to introduce the Ultimate Child Guide – a comprehensive workbook to organize all your child’s vital information in one place.

It is a great resource to alleviate all your uncertainties during overnight visits, going out to dinner leaving a babysitter at home, or even at daycare.  The Ultimate Child Guide is a go-to booklet containing all of the important information regarding the little one in your life.

It Is In the Details

From schedules, routines, easy breezy school drop offs, babysitter pickups, and do’s and don’ts to allergies, pediatrician numbers, and emergency protocols, enjoy peace of mind that your child’s caregiver has all of the relevant critical information at their fingertips.  Dedicated booklets for each child ensures that no detail big or small is overlooked.  Whether it’s picky eating, a special stuffed animal, or critical medical information.

Discover the confidence that comes with having clear information for each of your children in one dedicated, easy to follow place. Simply pack it away in your child’s overnight bag for a trip to Grandma’s house, or give it to a trusted teacher on the first day of school!

What are People Saying?

What an amazing idea to help out parents! I don’t know how many times I’ve grabbed a random sheet of paper and scrawled down bits and pieces of the nighttime routine and important phone numbers, all while the babysitter was about to walk in the door. Inevitably I always forget something, or at least worry that I did. The Ultimate Child Guide is a perfect way to avoid that frantic preparation and worry. This way, I can take my time recording information about caring for my child, so I can rest assured everything a caregiver would need to know is all stored in one place. 10/10. – Melinda

Received the Legally Speaking Life Ultimate Child Guide and love it. The book has several sections I had not even thought of. It is easy to use, and super convenient! This solves my problem having to write down the same information over and over again. I keep everything in one place with the Ultimate Child guide and feel much more comfortable leaving my girls with a baby sitter or sending them to a sleep over. I have seen other guides, but not nearly as thorough. Very glad I got this. – Aaron

This workbook is so simple and easy to fill in then hand over to my parents when they take care of my kids! Especially the schedules and allergies / food sections are helpful. I added what they like, what they don’t, also important numbers and situations. My daughter has type 1 diabetes so I especially love the medical section where we can add notes / what to do and add important doctor phone numbers and contact. My kids are about to spend a weekend with the grandparents while we go to a wedding and feeling so much more at ease knowing they’ll have all this info easily at their fingertips! – Marianne

Get it now!  Click below to get yours!

Workbook

Binder

It is easy to get an appointment with us, but we need you to do a little work before our meeting.

Step 1

Complete our free Initial Will Questionnaire.  Call (504) 766-6786 to request a digital copy for free!!

Then, you can:

• Type directly in the Word document, or
• Print and fill it out by hand

Step 2

Call and schedule a time to come in with your completed questionnaire and review your wishes.

Our simple estate planning package ($750) includes:

• A simple will
• A power of attorney
• A medical power of attorney
• A living will
• One Ultimate Life Binder (to store important information)

Want the Ultimate Life Binder now?  Click the link to start.

Want to learn more about the general information that will be collected in the Initial Will Questionnaire?  Take a look here.

Information Needed to Prepare Your Will – A Starting Point

How to Begin

For many people, thinking about writing a will can be difficult – and unpleasant!  But the first step is starting the process.  Frustrated clients often ask questions like these:

• “Where do I begin?”
• “What do I need to think about?”
• “What information do I need to gather?”
• “Why does the process seem so cryptic?”

With more than 65 years combined experience, we have some ideas to help you.

In the office, we have a questionnaire that helps clients begin organizing information needed by us to help create a will.  Many of the questions lead to follow up questions.  Then, that is when we meet and collect even more information in order to provide the best counsel possible.

To give you an idea of what we ask, here is a list of questions and requested information that help begin the process of crafting a will.  Legal documents require details, and we have tried to lay out some of the needed details in simple terms.  Take a look and let us know what you think!

Personal Information

Obviously we need information on you so we can identify you and include that information in the will.

• Name on birth certificate
• Any other names used
• Physical Address and Mailing Address
• Telephone Numbers
• Date of Birth
• Email
• Social Security Number
• Copy of Government Issued Photo Identification

Marital Information

We need marital information in community property states to address actions you wish to happen in your will.

• Are you currently married?
• Have you been married in the past?
• Married more than once?  We will need name on birth certificate for each spouse and how the marriage ended.  For example: death, divorce, annulment.
• If a spouse died while you were married to that spouse, then we would want to collect information on that death and any succession that was completed.

Information on Children

We collect information on your children so that information can be used in the preparation of your will.  Louisiana has specific laws for children and we want to address your wishes correctly.

• Men – were you the father of any children?
• Women – have you had any children?
• If you have had children, then we will want more information.
• Name of each child as shown on the birth certificate.
• Contact information for each child – address, telephone numbers, emails
• Last four of each child’s social security number
• Date of birth for each child
• Do any of them have mental or physical incapacity
• The other parent’s name for each child
• Have you ever adopted any children?
• Have you ever been adopted?
• If you have any children who have predeceased you, we will want to collect information on that child.

Property

Property could make up a lot of your assets that you want to transfer to your loved ones.  It is important to have accurate information on your property to avoid problems in the future.

• Do you own any real estate?  For example, your home, a portion of your parents’ home, a rental property owned by you and someone else.
• If so, we will need municipal address and parishes where it is located and the name of any co-owners.
• Do you have a checking account?  Savings account?  Money Market accounts? Are these owned separately?  Jointly?  If jointly, who is the other owner.
• Do you own investments or securities (stocks, bonds, etc…)
• Do you have retirement savings, like a 401(k), an IRA, pension?
• Were you in the armed services?
• Do you own a vehicle?  Individually or with someone else?

Other Family/Business

We try to look at all of your circumstances to provide our best advice.  The following questions will help us understand your situation more fully.

• Do you have any brothers or sisters?  If yes, are they alive or deceased?
• Any brothers or sisters who have died? Age at death?
• Do you own your own business?  Or own an interest in another business venture?

Executor

An executor is the person who will close bank accounts, change utility names, transfer title to vehicles and generally work with an attorney to ensure all matters in connection with your succession are taken care of properly.

This topic can really cause people a lot of heartache.  People don’t want to choose one child over another or create hard feelings among children.  But, consider who has time to help, who lives nearby, who is responsible.  And, a lot of times people choose executors other than their children.  It is really personal.  If needed, we can help.

• Who would you like to be your executor?
• Please name a second person to act as your executor if the first person cannot serve as executor.

Burial and Other

• Do you have any special burial/funeral requests?
• Do you want to request a specific religious service for your funeral?
• Do you want to be an organ donor?
• Do you want to donate your body to science?

Finally

Who do you want to leave things to?

Please prepare a list of what you would like each of your legatees to receive.  This can be in proportions, like ½ to son, ½ to daughter, or it can be $25,000 to son, the rest to daughter, or you can itemize property going to each person.  However you want to make a list is great!

Great Starting Point – Ready for More?

This is a great place to start.  With answers to all of these questions, you will be prepared to continue on the journey of writing a last will and testament.  Get started and let us know if you would like to make an appointment once you have all of this information collected.  Also, the Ultimate Life Binder is an excellent resource to organize yourself and your family.

Simple definitions of some basic terms associated with a real estate transaction.

Closing

“Closing” is a word commonly used to describe the scheduled time for buyer and seller to meet and complete the transaction of transferring property.  Generally, at a closing, the buyer and seller execute all documents necessary to transfer property, the buyer executes all documents required for the lender to approve the disbursement of its loaned money, and the escrow agent (Monarch Title, L.L.C.) collects and disburses all funds in connection with the transaction.

Conveyance Office

The Conveyance Office is part of the Clerk of Court’s offices.  It charged with maintaining documents reflecting real estate transactions.

Encumbrance

Encumbrances are judgments, liens, mortgages and any document filed in the public records affecting a property or a buyer or seller.

Escrow Agent

The escrow agent is the company that is insured to provide services of collecting and dispersing all funds in connection with a closing.  Monarch Title, L.L.C., our in-house escrow agency, works from the lender’s Closing Disclosure to know exactly how much to collect and how much to pay out on behalf of individuals and companies.

Closing Disclosure

The Closing Disclosure (or “CD”) is a document showing loan terms, from where all money is collected, and to whom all money is distributed.  It also includes information on each party, the lender and the property.  It is a government form that can be a little confusing to review.

Mortgage Office

The Mortgage Office is part of the Clerk of Court’s offices.  It is charged with maintaining documents reflecting liens, mortgages and judgments against persons or real property.

Owner’s Title Insurance

Owner’s Title Insurance is an insurance policy protecting the owner of a property against a loss should the condition of title to land be other than as insured.  Under standard coverage, insured  risks include: forgery and impersonation; lack of competency, capacity or legal authority of a party; sale not executed by a necessary party (co-owner, heir, spouse, corporate officer, or business partner); undisclosed (but recorded) prior mortgage or lien; undisclosed (but recorded) easement or use restriction; erroneous or inadequate legal descriptions; lack of a right of access; and sale not properly recorded.

Estate Planning – Collecting Important Documents

Important Documents

When we are helping clients with estate planning, one of the first questions we are asked is, “What do I need to keep track of?” Next, they ask, “How do I organize it all?”

After years of helping clients, we have some insight and suggestions.

What are important documents?

Important documents are similar to what is kept in your safety deposit box. But, these documents are generally not hard-to-get originals. The documents contain information that you may need access to easily and quickly. And, you don’t want to have to search for them when you need them in a hurry.

Think insurance documents that contain policy numbers and telephone numbers. For example, insurance for your home, life, vehicles, pets, Medicare, prescription, vision, dental, burial. Also, for your financial accounts. Not only the names of the institutions, but also account numbers, types, and contact information.

Ownership documents for your home, vehicles, antiques.

Contacts for family, friends, medical, professional.

Copies of vital records like your passport, immunizations, birth and marriage documents, military service, education transcripts. And of course, powers of attorney, your will, organ donation, and more.

Plus, if you have a business, documents showing ownership of that business.

Why would I need these documents?

First, knowing all of your important documents are together in one place is smart. It gives you and your loved ones peace of mind knowing you are organized. Second, they can be easily transported together if necessary for an emergency. Third, in case of an emergency, a hospital stay, or an accident, it is hard to remember where to find important documents that may be needed for you, a spouse, a parent, or a loved one. Fourth, you may want to share the location of these documents with the person who has your power of attorney, a child, or caretaker.

Where would I keep all of these things?

Keep your important documents together in one place. And, not a junk drawer. We created the Ultimate Life Binder, which you can get here, to help people organize themselves. The workbook is easy to complete. Some people have taken it apart and created a three-ring binder with the pages of the book and copies of documents and statements.

DON’T BE OVERWHELMED!

That is the first advice we give. It is a lot. But, take it slow and methodically collect your important documents using the Ultimate Life Binder.

What do I keep in my safety deposit box?

This is a question we get all the time.  Our suggestion is important documents that are difficult, time consuming, or costly to replace.  Many times these items are available elsewhere, but can require a lot of time and effort to obtain.

• Original Last Will and Testament, if your attorney is not keeping it on file.
• Original Deeds for Real Estate, if your state provides purchasers with original deeds
• Certificates of securities (actual stock certificates)
• Certified copies of birth certificates/adoption records
• Certified copies of marriage and divorce records
• Original marriage licenses/certificates
• Military discharge and service records
• Veterans Benefits
• Death certificates for very close relatives, or if you are working as the administrator of an estate
• Social Security Cards
• Government bonds – for example, a savings bond
• Titles to automobiles currently owned
• Actual copies of policies of insurance – life, long-term care, burial … Yes, you can get copies, but if you need it quickly, it may be easier to have it in the safety deposit box
• Important contracts
• Notes payable to you, (for example, your brother-in-law borrowed $10,000 from you and you had him sign a note to repay that loan)

And, you may want to keep certain things from your family that you never want to be in danger of destruction/theft.  Important jewelry, letters from long ago that are important to you, in bigger safety deposit boxes, some families keep silver.

Ready to start on your estate plan?  Then, contact us for more information or to schedule an appointment.

Or, you can also begin collecting information on your own with the Ultimate Life Binder.