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What You Should Know About Wills & Successions in Shreveport LA

The laws regarding wills and successions in Shreveport Louisiana are different than in other jurisdictions. The state of Louisiana has very strict laws determining the distribution of property after an individual has died. Regardless of how much money or property an individual owns, everyone should have a Last Will and Testament if they wish to have any control over what happens to their property upon their death. If you are interested in planning for your passing and have questions regarding wills and successions in Shreveport Louisiana, you should contact a local wills and successions attorney for a consultation.

A will is a legal document indicating how you wish your property to be distributed upon your death. Without a will, you property will be distributed according to Louisiana intestate laws. While your will allows you to have more control over who receives your property than if you didn’t have one, children who are permanently disabled or under the age of 24 are considered “forced heirs” and cannot be disinherited in your will.

In your will, you can also:

  • name a guardian/tutor for minor children;
  • create a trust for grandchildren, special needs or spendthrift heirs;
  • make provisions to save estate taxes for larger estates.

The legal process referred to as probate in other states, is called succession in Louisiana. Succession refers to the process of settling the deceased’s estate and distributing the property after any debts are paid. Succession is also used to refer to the decedent’s estate. In Louisiana, some types of property are not considered part of your succession. For example, property that is paid directly to a named payee by a third party like an IRA or 401(k) is not subjected to succession proceedings, so it is important to make sure your beneficiary designations are up to date.