This video describes what you can do as part of your overall estate planning strategy to provide appropriately for your spouse.
Married couples customarily go through the estate planning process together. Often, providing for one’s spouse is the most important objective of someone, even more so than: providing for children or other beneficiaries, making the estate settlement easy, avoiding disputes, or even avoiding taxes.
Those people who put providing for their spouse as most important are often thinking, “I married up and my spouse married down. My spouse has had to put up with my shenanigans for decades, so the least I can do is make sure my spouse is adequately provided for from my estate.”
Failing to provide properly for your spouse can create a host of problems for your spouse in the future - court guardianship proceedings when you become incapacitated, having to go through a court and attorney involved probate proceeding for months or years after you pass away, having to pay significant sums of tax upon your death, being involved in a difficult estate dispute after you die, or having to get permission from others to sell your home or transact other assets after you pass away.
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0:00 Provide for Spouse in Estate Plan
0:58 Failing to Provide for Spouse
2:52 Enhanced Durable Power of Attorney
3:49 Health Care Legal Documents
4:48 Living Will
6:02 Revocable Living Trust for Lifetime Planning
6:44 Should You Add Spouse as Authorized Signer?
7:34 Outright to Spouse, or In Trust for Spouse
8:59 Outright / In Trust Combo
9:37 Spouse as Executor and Trustee
10:14 Minimize Spouse's Tax Obligations
11:45 Enable Spouse to Avoid Probate
12:12 No-Contest Clauses
For Louisiana residents only: For prospective law firm clients who want to schedule a free 30 minute initial phone call with an estate planning attorney at the Louisiana estate planning law firm of Rabalais Estate Planning, LLC, go to: https://go.oncehub.com/Paul8
This post is for informational purposes only and does not provide legal advice. Please do not act or refrain from acting based on anything you read on this site. Using this site or communicating with Rabalais Estate Planning, LLC, through this site does not form an attorney/client relationship.
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