Estate planning is a serious responsibility. It is a way to make sure that all you have worked for your whole life goes to those you love. It is a way to make sure everyone is provided for. You are never too young to think about drawing up a will. In the state of Louisiana, the estate planning laws and laws of inheritance are somewhat different than those anywhere else. According to Louisiana estate planning law, if there is no will everything goes to the deceased’s parents. They own the property and have full usage rights. If the parents are no longer living, everything goes to the deceased’s siblings.

Some people are reluctant to make a will because it becomes a matter of public record after you die. This means that anyone can see what you owned, how much, and who it was transferred to. For privacy’s sake, many people look for other options. There are lots of options to making a will, including life insurance policies, trust funds, “Transfer On Death” and “Payable On Death” plans, IRA’s and joint tenancy or common tenancy plans, where an individual can make all of their earnings common property of themselves and their spouse and/or kids.