Asset Distribution under Louisiana Law

How your assets are distributed upon your death will depend on several factors. For example, if you die without a will in Louisiana, then your assets will be distributed according to Louisiana's intestate succession laws. Dying with a will is called dying "testate," whereas dying without a will is called dying "intestate." However, only those assets that would have passed through your will are subject to intestate succession laws, which are generally assets that are owned solely in your name.

There are a number of assets that don't have to go through your will, and are therefore not affected by Louisiana's intestate succession laws. The following are some examples of property not included in a will:

  • Assets placed into a trust
  • Life insurance
  • Payable on death bank accounts
  • Property that you own with someone else in joint tenancy

Under Louisiana's intestate succession laws, who gets what when you die without a will depends on whether you're married, if you have living children, parents or other close blood relatives when you die.

If you have children but no spouse, parents, or siblings, then your children get everything.

If you have parents but no children, spouse or siblings, then your parents will inherit everything.

If you have siblings but no children or parents, your siblings will inherit everything.

If you die with a surviving spouse and children, your spouse has the right to use your share of the community property until death or remarriage under what is called "usufruct." Your children will inherit your share of community property subject to your spouse's right to use it for life, and your children inherit all of your separate property.

If you die with a spouse and parents, your spouse inherits all of your community property while your parents inherit your separate property.

If you die without a will and don't have a spouse or any family, your property will go to the state; however, this very rarely happens since the state's laws are designed so that even the most remote relative will inherit your property. For example, if you die without a spouse or children, your property won't go to the state if you have parents, grandparents, aunts or uncles, nieces or nephews, or cousins of any degree.

To learn more about asset distribution and how drafting a will can help you maintain control over who gets what assets and when, contact a New Orleans estate planning attorney from Brown Weimer LLC today by calling (504) 662-1798.

Brown Weimer LLC Attorneys and Counselors at Law - New Orleans Probate Attorney
Located at 400 Poydras Street, Suite #1125
New Orleans, LA 70130
Phone: (504) 561-8700
Website:
Probate.com

The information on this website is for general information purposes only. Nothing on this site should be taken as legal advice for any individual case or situation. This information is not intended to create, and receipt or viewing does not constitute, an attorney-client relationship.

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