Many Louisiana families put off estate planning. Some think they do not own enough assets. Others believe they have plenty of time. Baton Rouge attorney Todd Gaudin said waiting too long can create problems for loved ones later.
Gaudin, who leads Gaudin Law Group, recently discussed wills, trusts and succession planning during ‘Mornings with Brian Haldane’. He said many people hear they need a trust, but trusts are not necessary for every family. In many cases, a properly prepared will can handle a family’s needs.
Gaudin explained that one major difference between having a will and not having one is customization. Without a will, Louisiana law determines how assets pass to heirs. A will gives families more control. It allows people to direct assets to specific loved ones or charities and create safeguards when needed.
Blended families often benefit from estate planning because family situations can become more complex over time. Gaudin said people should think about planning when they begin having children or building wealth. He added that families should avoid waiting until health or memory problems begin affecting decision-making.
Gaudin also pushed back on a common misconception. Louisiana allows handwritten wills under certain rules. He said handwritten wills can work, but people should avoid vague language or conflicting instructions that create confusion later.
Another mistake can prove costly. Gaudin shared an example of a missing will that changed how assets were divided after a death. Keeping estate documents secure and accessible matters just as much as creating them.
Gaudin said estate planning is not only about money. It is also about helping family members navigate difficult moments and preparing them for the future.