Community
Property Louisiana is a community property state
and things acquired by the effort, skill or industry of one spouse are shared
by both spouses. Generally, property acquired during a marriage is considered
community property. There are some exceptions such as property acquired with money
that is separate property or gifts made to one spouse. Dying Without A Will Also
called intestacy, a decedent's property will go into the hands of the person or
class of people most closely related to the decedent as set forth by the Louisiana
Legislature. Separate Property Children (and possibly other decedents
through representation) Parents and/or siblings (If parents and siblings,
parents get a usufruct and siblings get naked ownership) Direct ascendants
of the closest relationship inherit to the exclusion of others. If there are ascendants
of equal degree on both sides (mother and father), they split. Collateral
relatives (aunts, cousins) of the closest degree. Community Property
Surviving spouse gets a usufruct community property, all of decedent's children
get naked ownership in equal shares If there are no children, surviving
spouse inherits all of community property Parents and/or siblings will
get their relative's share (If parents and siblings, parents get a usufruct and
siblings get naked ownership) Direct ascendants to the closest relationship
will get their relative's share. The closest by degree inherits to the exclusion
of others. If there are ascendants of equal degree on both sides (mother and father),
they split. Collateral relatives (aunts, cousins) of the closest degree
will get their relative's share. Forced Heirs
Children under the age of 24 and children of any age who cannot take care of themselves
are forced heirs and must inherit a portion of the estate. The portion is a percentage
based on the number of children (forced heirs). Grandchildren may be forced heirs
if their parent is deceased and would have been a forced heir.
Succession/Probate
All property of a deceased person must be probated for ownership to pass to another.
Small estates (value less than $50,000 and no immovable property) can be probated
with one pleading. Trusts Trusts are juridical
entities that can have ownership of property. One benefit of trusts in estate
planning is allowing money and other assets to grow tax free until disbursed to
the beneficiaries. The types of trusts are too numerous to list and describe here. Types of Wills An Olographic Will is written in the
testator's handwriting and has been signed and dated by the testator. To probate
an oligraphic will there must be evidence of the testator's handwriting. A Notarial Will is a testament that has been signed before a notary and two witnesses.
The testator must sign every page of the testament. A Living Will serves as a notice to your doctor or hospital that you do not want extensive lifesaving measures in the event you have no chance of survival. Wills, Requirements
The requirements of a will are donative intent and
to fit the formal requirements of the type of will, be it olographic or notarial. Usufructs
This allows a person who is not the owner of property to enjoy the use and the
fruits of the property. An owner of property subject to a usufruct is called a
naked owner. Often times, a surviving spouse will get a usufruct over the community
property while the children get the naked ownership. Minor Children
Tutors are assigned to minor children when both of the parents pass away. Parents
may indicate who they would like to serve in the event of their death. This can
be done in a will. If one parent survives the other, that parent may decide the
tutor of minor children. If deceased parents have not previously indicated who
they would like to serve as tutors, a court will decide. Representation
Representation is when a person assumes the inheritance rights of a deceased parent.
Donations to children and siblings are subject to representation. Amendments and Codicils Items may be added or deleted from existing wills. Provisions may be taken out of wills (revocation) and new provisions added either by the testator indicating such on an existing will, or by writing a codicil, which would be an amendment to an existing will. Revocation A will may be revoked at any time before the death of the testator
it can be in separate document or by the testator indicating as such on the will in his or her own handwriting. Back to top The information contained on this website does not constitute legal advice and should not take the place of consulting an attorney. It is intended to educate and familiarize individuals with basic general information and terminology contained in Louisiana law. If you are thinking about drafting a will, you should contact an attorney. |