Questions about Wills and Succession in Louisiana:
Q. What Is A Succession?
A. Succession is the legal process of settling and distributing the property of a deceased to the deceased's heirs once all debts are paid. It is called probate in other U.S. states.
There are many Louisiana Laws relating to succession; start here to learn more about Louisiana succession.
Q. What Happens to Property of a Person Who Dies without a Will in Louisiana?
A. The determination of whether the property is separate or community under Louisiana is determined. Once that is determined, the relationship between the deceased and the survivors dictates who inherits the property.
Q. What Is a Usufruct in Louisiana law?
A. In Louisiana inheritance law, a usufruct is the right to use property and receive the income from property without altering it. The person who inherits or otherwise obtains this right is called a usufructuary.
At the same time, another person may own the property, and mortgage or sell the property without affecting the usufructuary’s right to use and rent the property. The owner that is subject to the usufructuary’s use of the property is called a “naked owner.”
Learn more about Usufructs at Wikipedia.
Q. Do I Need to Have a Will in Louisiana?
A. A will can change the people who inherit your estate, name a tutor or guardian for your children, name an executor of your estate, establish trusts, and be part of a tax and estate plan, among other effects. Please contact the Shoultz Law Firm’s experienced and knowledgeable attorneys to determine whether or not you should have a will drafted for you.
Laws in Louisiana regarding succession and wills are complex and changing. Consult with the Shoultz Law Firm Trial Attorneys regarding your succession and rights.