How a person’s estate is distributed after death depends on whether he or she died with or without a will.
If a person dies without a will, which in legal terms means they died intestate, then the decedent’s estate will be distributed as designed by the Louisiana Legislature. In other words, the succession articles of the Louisiana Civil Code dictate what happens to your estate and who gets it.
We believe that a person would like the decision as to how his or her estate will be divided upon their death to be made personally by them and not by the Legislature. That is where a will comes in and the whole concept of estate planning.
A will, also known as a Last Will and Testament, is a legal document that must meet certain requirements set by statute, whereby a person directs how their estate will be divided upon their death. In other words, it says who among your family, friends and/or organizations is to receive the assets of your estate, taking into account all aspects of Louisiana law, including the concept of forced heirship.
In your will, you can leave particular things to specific people, such as jewelry or a family heirloom that has passed down through the centuries and one that you wish to keep within your family in the hands of someone you know will care for it in the same manner that you did. Or, you may wish to leave a special legacy to a charity or school. With a will, provided that it complies with Louisiana law, the decision as to the division of your estate is yours to make, and yours alone. Some wills, especially for parents with minor children, will involve trusts and tutorship provisions, providing for their minor children.
A person who dies with a will, dies testate, as the notion is called under Louisiana law.
One of the most important reasons in having a will is the right that you have to appoint the person you wish to handle your estate matters during the administration of your succession. By doing this in your will, you will save a lot of time and money for your heirs. You can name that person to be an Independent Executor, a fairly new concept in Louisiana, that makes the whole probate process easier and cheaper. You can also dispense that person from having to post a bond, which again can be costly.
As you can see, writing a will does make a difference compared to the handling of an estate of a person who dies without a will.
Writing a will doesn’t need to be expensive. Most wills can be composed quite simply. Others are more complex and involve more people, substantial assets, and cash.Your specific needs will be addressed at our meeting and a will crafted by us to meet your specific family needs and done so at a reasonable cost to you.
We have been told by many of our clients that once they executed their wills, they knew they could rest easy, knowing that their wishes will be followed after their death.
We believe that a client should take the time to reflect on the different avenues they can go after the advice of an experienced attorney. At the Many and LoCoco Law Firm, we work closely with clients to make sure that their estate decisions preserve their assets for their families and reflect their true wishes.
Please contact us today to begin the process to protect your family and heirs.