A succession should be opened as soon as practicable after the decedent’s death. Sometimes, it is necessary to immediately open successions to use the decedent’s bank accounts or assets to pay funeral or medical bills. Delay in opening a succession may cause problems. Often, successors wait many years to open a succession. As a result, they may run into problems such as lost documents or wills or face tax sales of homes for unpaid taxes. Also, waiting too many years to open a … [Read more...]
Why is it important to open a succession?
A succession is opened to get legal possession of immovable and movable property, and to gain access to bank accounts, pensions or insurance proceeds for the successors. The legal possession of immovable property that results from a succession will give the successors the power to sell the property, refinance, and qualify for the homestead exemption. … [Read more...]
What is a Succession?
In Louisiana, probate law is called succession law. “Succession” is transmission of the deceased’s estate or rights to his successors. The estate of the deceased includes the property, rights, and obligations that he had at death. The estate also includes all rights and obligations that have accrued since death. The complexity of a succession depends on the value and type of property involved, the decedent’s debts, and whether there is conflict among family members. Often, clients … [Read more...]
DIY Did I Do That?
The DIY vibes are strong right now. With some things, it will probably work out fine...repaint your old table, change out those light fixtures...you've got this. But some things need to be done right, or there's going to be a real problem. Maybe stay away from DIY tattoos or rewiring the electricity in your home. And maybe don't download that "as seen on TV" Will program and think you're covered. We've received several messages from friends asking about DIY Will programs, wondering if … [Read more...]
Don’t Let your Child Head to College without This!
Soon, James and Erica will celebrate the graduation of their youngest child, Mia, from high school. This fall, Mia will head off to Louisiana State University to pursuit a degree in nursing. In addition to the typical list of items she'll take with her to college, Mia will be well prepared with the proper legal documents. What's that? You weren't aware that college-age children need legal documents? Well, they absolutely do because in the eyes of the law (if not their parents), … [Read more...]
