Estate Settlements and Verdicts
Louisiana Estate Planning Attorneys
Wills are basically a written testament as to how a person before death wishes his or her assets and property to be distributed after death. The will indicates to whom and in what proportions his property and assets will go to upon his death. With a will, a party insures that their wishes will be complied with after their death.
Typical issues covered in a will could include who will run a family business, who will be appointed tutor or guardian of minor children and who will be appointed to administer your estate. Most parties should have a will, unless they do not care what happens after their death. Wills are important due to the fact that in the absence of a valid will the State of Louisiana will make all the provisions as to the division of your property. Also, in the making of a will there are certain other considerations such as Louisiana's Forced heirship laws that must be considered.
To discuss the making of a will or if you find yourself in the situation where you have to have a succession opened, please contact us for a free consultation.
Successions
When a person dies, there must be an orderly procedure to determine what happens to his property and assets. In Louisiana, this procedure is called a succession. The succession determines the transmission of the deceased person's estate to the successors. The deceased person's estate is transmitted to the successors immediately upon death, but the successors do not have the right to possess the property until a succession is done.
There are two types of successions — testate and intestate. Testate is when the deceased person left a valid will stating who gets what and in what proportions. Intestate successions are when the deceased person left no valid will and Louisiana State law determines who gets what and in what proportions.
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