Inattention to beneficiary designations and jointly titled assets can quickly unravel your estate plan. Suppose, for example, that your will provides for all of your property to be divided equally among your three children. But what if your IRA, which names the oldest child as beneficiary, accounts for half of the estate? In that case, […]
A Beneficiary Designation or Joint Title Can Override Your Will Read More »
An inheritance is a windfall. Any windfall will jeopardize need-based benefits, such as Medicaid. Once the windfall bell has been rung, it cannot be unrung in the eyes of the Louisiana Department of Health, which administers the Medicaid program in Louisiana. As such, care must be taken to avoid unintentionally disqualifying an heir or legatee
How Does Inheritance Affect Medicaid Benefits? Read More »
Contesting a Will in Louisiana Joe Crown was a drunk. And a mean one at that. He was also cheap. So cheap that he drafted his own will. Bad idea. Just to be mean, he left his only child, Tommy Crown, a bucket of pennies. He left the rest of his estate to his sister, who
Contesting a Will in Louisiana Read More »
If you want control over the distribution of your estate, you need a valid will and a designated executor. Otherwise, your heirs could be in for a difficult, expensive and potentially contentious ride. This article provides a review of the tasks necessary in administering an estate – tasks that need to be done during a
Understanding the Estate Administration and Probate Process in a Louisiana Succession Read More »
Take care to avoid these eight (8) major estate planning mistakes. 1. Relying on the Government’s “Estate Plan” One of the biggest mistakes people make in estate planning is to not have an estate plan in place at all. This puts families in the position of being subject to government rules and regulations about all
Eight Major Estate Planning Mistakes Most People Make Read More »
Many people have wills drafted to include bank accounts, stocks, and other probate assets. But they overlook planning for personal possessions. Bitter disputes can erupt over items that have more sentimental value than monetary worth, including furniture, photographs, jewelry, and artwork. This article provides answers to commonly asked questions about how estate assets are distributed,
Avoid Family Feuds When Distributing Assets Read More »
What is Probate? A probate is simply the process of transferring property from the estate of a deceased person to the heirs or legatees of the decedent. A probate is necessary if a person dies testate (with a will) or intestate (without a will), or fails to completely fund a Revocable Trust (a/k/a Living Trust).
How Much Does Probate Cost in Louisiana and How Long Does It Take? Read More »
