Most of us expect that tomorrow will be another day like any other. But, as Euripides said, “no one can confidently say that he will still be living tomorrow.” In fact, thousands of people die in the United States every single day. Some of them die from long-term illnesses. But many of them die unexpectedly from accidents, heart attacks, and other tragedies. Let us look at what would happen if you died without planning. First, if your death were preceded by a period of incapacity, your … [Read more...]
What’s the Big Deal about Probate Avoidance?
Are you curious what Jacqueline Kennedy Onassis, universally regarded as one of the world’s most private women, did with her fortune? What about Anna Nicole Smith, Paul Newman, or even Elvis Presley – are you interested in knowing how they distributed their fortunes? Surprisingly, it is relatively easy to find out their dispositive plans for their estates because each one used a Last Will and Testament in their estate plan and a Will must be probated. Documents filed with the Probate Court, … [Read more...]
Who can contest a will?
In order to have standing to contest a will, you need to prove that something about how the will was written may be illegal. You won’t have standing if the will is ironclad, even if the distribution of assets may seem unfair. The following parties have standing to contest a will: Beneficiaries already named in the willBeneficiaries named in a previous will, who were written out of the most recent version of will, or whose share of the estate was significantly decreased by the newest … [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...]
