An executor is the person designated in a Will as the individual who is responsible for performing a number of tasks necessary to wind down the decedent’s affairs. Generally, the executor’s responsibilities involve taking charge of the deceased person’s assets, notifying beneficiaries and creditors, paying the estate’s debts and distributing the property to the beneficiaries. The executor may also be a beneficiary of the Will, though he or she must treat all beneficiaries fairly and in accordance with the provisions of the Will. First and foremost, an executor must obtain the original, signed ..read more

INTRODUCTION A minors’ trust in a will, often referred to as a “minor’s trust” or “trust for minors,” is a legal arrangement created within a person’s last will and testament to provide for the financial well-being and care of minor children. The primary purpose of such a trust is to ensure that assets or property left to minors are managed and distributed in their best interests until they reach an age specified in the trust document, as determined by the person creating the will (the testator). KEY FEATURES Here are some key features of minors’ trusts in wills: Trustee: The trust appoints a ..read more

One of the most overlooked things when writing wills is the naming of a Tutor for your minor children. Providing for Tutors in your will is a crucial step to ensure that your minor children are cared for by the individuals you trust and choose, should you pass away before they reach the age of majority. Here’s a step-by-step guide on what to consider when making provisions in your will for Tutors: Choose Potential Tutors: Identify the individuals or couples you would like to nominate as Tutors for your minor children. Consider their values, parenting style, financial stability, and their rela ..read more

Introduction In the grand tapestry of life, one thread remains constant: change. As we journey through the years, our responsibilities, aspirations, and possessions evolve. Estate planning, often overlooked, stands as a crucial means to ensure our hard-earned assets are seamlessly passed on to loved ones. This legal blog unveils the intricacies of estate planning, empowering you to craft a legacy that endures. Please be sure to subscribe to our new website blog. https://neworleansestatelaw.com/blog/ Join us on this enlightening journey, as we navigate the labyrinth of wills, trusts, and g ..read more

Let me give you a scenario that keeps coming up in my practice that people must be aware of and easily can rectify. Husband and wife get married. It’s the second marriage for both. They both have children from other marriages, whom they really do not get along well with, and all the children live away. Husband comes into the marriage owning the home that the couple is going to live in as the family home. Thus – under Louisiana law, the property is considered the separate property of the husband. It’s separate because he came into the marriage owning that property. During the course of the marr ..read more

Non-probate assets refer to assets that are not subject to the probate process upon the death of the owner. When a person passes away, their estate goes through a legal process called probate. Probate is the process where the court oversees the distribution of assets and payment of debts to beneficiaries or heirs. However, certain assets are designated to pass directly to specific beneficiaries outside of probate. These assets typically have beneficiary designations or other features that allow them to transfer directly to the intended recipients upon the owner’s death. Non-Probate Assets Exam ..read more

Chip LoCoco is the author of four highly acclaimed novels. We are thrilled to announce that recently his novel, Saving the Music, was awarded the American Fiction Award in Historical Fiction. The book forms part of his beloved Bellafortuna Series. The book is available at Amazon. https://a.co/d/iKIB2Hn Here is a brief description of the novel. SAVING THE MUSIC Embark on a captivating journey through the shadows of history in Saving the Music. Set amidst the turmoil of World War II, this gripping tale unveils the story of Jewish musicians who seek sanctuary in the unlikely embrace of Sicily. Ul ..read more

Forced heirship is a concept that exists only in the State of Louisiana. It is a unique aspect of Louisiana’s civil law system, based on the Napoleonic Code, rather than the common law system found in most other states in the United States. Forced heirship is designed to protect the rights of certain heirs in inheritance matters. It ensures that certain family members, known as forced heirs, receive a portion of a deceased person’s estate, regardless of the provisions made in the person’s Will. In Louisiana, forced heirs are: – Children who are under the age of 24. – Children of any age who a ..read more

Preparing for the future is an uncertain business, but there are steps you can take during your lifetime to simplify matters for your loved ones after you pass, and to ensure your final wishes are carried out. Planning for what happens to your property, or who cares for your family members, upon your death can be a complicated process. To simplify things, the following list can help you avoid some of the pitfalls you may encounter before, or even long after, you create your estate plan. Don’t assume you can plan your estate by yourself. Get help from an estate planning attorney whose training ..read more