WILLS, SUCCESSIONS, AND TRUSTS
Wills:
Louisiana has some of the most unique and interesting laws in our entire nation. Because of our origins arising from French and Spanish control of this state, and their influence on our laws, it creates a very and dangerous trap for Louisiana residents. We do not recommend that a person go to Home Depot or Office Depot and purchase software to prepare their own Will.
If you try to purchase the software, take the time to read the warnings on the packaging. In most cases you may notice that Louisiana is excluded from the list of the states that would recognize that software. If a Will is not in correct form, it is null and unenforceable.
Successions:
In most cases, a succession is a court-guided transfer of title to movable (i.e. cars, furniture,etc.) and immovable property (i.e. real estate) from the dead to the living. If there is no Will, Louisiana law supplements and directs where property will go without considerations of the decedent's intentions to distribute the property.
Trusts:
A trust is a contractual relationship to hold property (both moveable and immovable) subjectto terms and conditions included in the Trust Document. These contractual terms also bind a trustee(representative) to perform acts for the beneficiaries of the trust. A trust may be formed during a person's life (inter vivos) or at death (mortis causa). Trusts are a powerful tools for future planning.