I recently created an estate plan for a couple living in Metairie. One of the main concerns and planning goals was to keep a tract of inherited land in the family. The wife inherited the land from her father, and it has been in the family for generations. She wished to transfer the land to her children, but did not want her children to sell it. I explained to the couple that they should consider leaving the land in trust for the benefit of their children. I showed them how we could draft a trust to prevent the children from selling the land. The trust could also be drafted to protect the land from creditors or from a community property settlement in the event any of their children later divorced. The couple liked these benefits of transferring the land in trust for the benefit of their children. We developed a plan using a revocable trust to avoid probate and to keep the real estate in the family bloodline with the additional benefits of protection from creditors and divorces. If you would like more information about the benefits of using trusts to keep assets in the bloodline in Louisiana, contact Houma estate planning and elder law
attorney, John Sirois at 985-580-2520 or email him. John works with clients in Houma, Thibodaux, Metairie, the New Orleans area, the river parishes and throughout South Louisiana. Looking for more Louisiana-specific estate and retirement planning information? Find more information for Louisiana residents in John’s book, Louisiana Retirement and Estate Planning, 2017 Edition available by contacting John or through Amazon.com.