Founding Attorney
A living trust can offer a thoughtful way to manage your property during your lifetime and plan for the future. Many people use trusts to provide structure, keep their affairs organized, and prepare for the possibility of incapacity. In Louisiana, living trusts can be a valuable part of your estate plan when tailored to meet your needs and state law. With the proper planning, you can help reduce uncertainty and ensure your wishes are followed—both now and later on.
What Is a Living Trust?
A living trust is a legal document that allows you to move property into a separate entity—the trust—while you’re still living. You typically serve as the trustee, which means you keep control over the property. You also name someone to take over as successor trustee if you’re no longer able to manage things yourself.
Unlike a will, which only takes effect when you pass away, a living trust becomes effective right away. It can help ensure that someone you trust is ready to step in if needed. A standard trust includes:
- The grantor – the person who creates the trust
- The trustee – the person who manages the assets
- The beneficiaries – those who benefit from the trust during your life and after
This setup gives you flexibility and peace of mind, especially when combined with a well-crafted estate plan.
How a Living Trust Works in Louisiana
Setting up a living trust in Louisiana begins with creating a written document that outlines how your property should be managed. Once the trust is drafted, you transfer ownership of certain assets—like real estate, bank accounts, or investments—into the trust’s name. This step is called “funding” the trust and is essential for making sure the trust works as intended.
Here’s how the process generally works:
- Draft the trust document – Lays out your instructions and names the trustee and beneficiaries
- Transfer property into the trust – Retitles assets so the trust becomes the legal owner
- Manage assets during your lifetime – If you’re the trustee, you retain full control
- Successor trustee steps in if needed – They manage and distribute the assets based on your instructions
Because Louisiana is a community property state, some assets acquired during marriage may be jointly owned by both spouses—even if only one spouse is named in the trust. It’s important to understand how community property rules affect which assets can be transferred and how they’re handled.
Louisiana law has some unique features that affect estate planning, such as forced heirship, which may require that certain heirs receive part of your estate. Also, unlike some other states, placing property in a living trust does not avoid the formal court probate (succession) process entirely after the grantor passes away. However, in some cases, a trust can still streamline how property is handled and provide continuity when needed most.
Benefits of a Living Trust
A living trust can help you maintain control over your assets while offering structure and flexibility in how they are managed and distributed. Some key benefits include:
- Continuity of management – If you become unable to manage your property, your chosen trustee can step in
- Privacy during your lifetime – Trust documents do not need to be filed in court unless required by a specific circumstance
- Support for loved ones – A trust can be designed to provide ongoing care for children or other beneficiaries
- Flexibility – You can include specific instructions for how and when beneficiaries receive assets
- Incapacity planning – If you become unable to manage your affairs, your successor trustee can step in without the need for court involvement
Used together with a comprehensive estate plan, a living trust can reduce stress for your family and keep things moving during times of change.
How We Can Help You Set Up a Living Trust
At Kallio Law Firm, we take the time to understand your goals and help you decide whether a living trust fits your needs. If it does, we’ll prepare a clear, customized trust and assist with transferring your property into it.
We also help with:
- Selecting a responsible successor trustee
- Ensuring your plan complies with Louisiana law
- Coordinating your trust with other estate planning documents
- Updating your plan as your family or finances change
Our goal is to give you confidence and clarity so your wishes are carried out.
Start Planning with Confidence
A living trust can offer security, flexibility, and peace of mind when used as part of a complete estate plan. At Kallio Law Firm, we’ll help you create a plan that reflects your values and protects your loved ones. Contact us today to schedule a consultation and start planning for the future with confidence.
