Wills & Successions ~ Dan Robin, Jr.
What happens to your family if something happens to you? Have you taken steps to protect the people you love and your assets? If you haven't - you are not alone - estimates depict roughly 70% of Americans do not have valid wills. Contemplating your future and putting your affairs in order can offer peace of mind to you and your loved ones.
The law office of Dan Robin, Jr. offer legal services for Wills & Successions in the state of Louisiana and can guide you in the steps to protect your assets, which might include real estate, businesses, personal property, money, and any other asset considered separate property. Wills are the logical way for people to state their preferences about how their estates should be handled after their deaths. A well-written will eases the transition for survivors by transferring property quickly and avoiding many tax burdens.
Previous law in Louisiana required your children to inherit a portion of your estate. However, this has changed and you can now leave your children nothing if they are competent, not disabled and twenty-four years of age or older. A will allows you to distribute your monies and assets according to your wishes and also helps insure the care of your spouse and children. And while family planning is extremely important, a will for business purposes is a must. Having legal counsel that understands the process of wills & successions can make this process easier on all the parties involved.
Successions in Louisiana law is often confused with the term "probate" used in other states. A succession in Louisiana takes property out of a deceased person's name and puts the property in the requested heir's name.
Probate, however, refers only to filing the will. If there is a will you must file the will at the courthouse. In normal circumstances, probate of a will takes a few days but it is only one step in completing a succession.
However, under Louisiana law, an ENTIRELY hand written, signed and dated document by the person making the will is legal. This is called an olographic will and notarization is not required for it to be considered valid.
In Louisiana, probate means the proving of the will as a valid will, whereas, succession means the passing of a decedent's assets to his or her heirs, paying the final bills, and ending the decedent's final affairs.
Louisiana Law recognizes two types of successions. The first type is a "testate" succession, where the decedent has left a will and directs how his assets are to pass, how debts are to be paid, and who the person will be that is in charge of handling the estate matters. The second type of succession is the "intestate" succession, where the decedent dies without a will. If the decedent dies without a will, Louisiana law has provided the decedent with an estate plan and the government directs how a decedent's assets will pass and who will inherit.
Successions are required under Louisiana law and at Dan Robin, Jr. we understand how to handle succession matters, properly informing heirs and creditors of the succession plan and how to protect the interest of business owners dealing with succession.
While a succession can occur without a will, many people are surprised to learn that in some cases the inheritance rights of nieces and nephews supersede those of a spouse. Unanticipated state laws in Louisiana like this are all the more reason to have a will drafted by an experienced attorney.
Please contact the law office of Dan Robin, Jr. for a FREE consultation today.