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April 14, 2015 By Lydia J. Alford

Thirteen Legal Myths

Don’t be fooled. See the post published on LinkedIn Pulse: 13 Legal Myths. See our Wills and Estates/Probate Planning, Business Law, Creditor and Debtor Rights and Real Estate Law pages for a discussion of the real Louisiana laws.

Filed Under: Business, Construction, Estate Planning, General Tagged With: Business, debt collection, Estate Planning, legal myths, LLC, wills

November 2, 2014 By Lydia J. Alford

7 Actions a POA Agent Should Avoid

Except in the case of an emergency, an agent acting under a general power of attorney should never, never, never: Use cash from the principal’s account for any purpose, unless and only if receipts with full explanations are kept to account for every penny. And then, this should the exception, not the norm. It’s always […]

Filed Under: Estate Planning

June 5, 2014 By Lydia J. Alford

14 Compelling Reasons You Need A Last Will and Testament

Last Will and Testament with magnifying glassLast Will and Testament with magnifying glass

It is commonly stated that Louisiana laws are very different from all other states. The generality of that belief may be debatable, but there is no doubt that our inheritance laws are different. Louisiana forces some parents to leave a prescribed portion of their property to certain children, called “forced heirs”.  See the wills and estates page of our website for […]

Filed Under: Estate Planning Tagged With: heirs, Louisiana, spouse, will

June 5, 2014 By Lydia J. Alford

How to Avoid Unnecessarily Complicated Louisiana Estates

disorderly affairs

As compared to some other states, the Louisiana probate procedure can be quite simple if the decedent’s affairs were in order and if the heirs act in a timely, prudent manner. Otherwise heirs will face an unnecessarily complicated probate, which will increase legal fees and court costs and unduly extend the time to conclude the […]

Filed Under: Estate Planning Tagged With: estate, heir, probate, spouse, succession

March 12, 2014 By Lydia J. Alford

Ten Reasons You Need a Healthcare POA

Stop, think about poa assumptions

Any one of these 10 compelling reasons is justification in and of itself for executing a healthcare power of attorney, as well as completion of the medical history form and living will, if that is your preference. And, be sure to consider the  practical considerations discussed below.   Your next course of action Don’t delay; […]

Filed Under: Estate Planning Tagged With: healthcare, medical, power of attorney

December 6, 2011 By Lydia J. Alford

Exception to penalty for failure to timely rollover IRA

To avoid penalties and taxes, liquidated IRAs must be rolled over within 60 days. In a recent Private Revenue Ruling, the IRS waived the 60-day period where the failure to meet the deadline was due to an error by the taxpayer’s financial planner. While this ruling is technically limited to this taxpayer, it does provide […]

Filed Under: Estate Planning Tagged With: Estate Planning, IRA

November 17, 2011 By Lydia J. Alford

Louisiana studies pet trusts

pets

Is Louisiana ready for trusts for pets? Remember the multi-million dollar trust Leona  Helmsley created for her beloved dog, Trouble? Well, trusts for pets are not currently allowed under Louisiana law.  But, that may be about to change. The Louisiana legislature passed a resolution during its 2011 session asking the Louisiana Law Institute to study the issue.  The […]

Filed Under: Estate Planning Tagged With: Estate Planning, trust

November 9, 2011 By Lydia J. Alford

Parents are forced to leave portion of estate to children with bipolar disease

Per three court decisions, children with bipolar disease are “forced heirs”. This is a Louisiana inheritance concept whereby parents are “forced” to leave a part of their estate to certain children. Prior to 1995 all children were forced heirs and were entitled to inherit unless disinherited. In 1995, forced heirs were redefined and are now: 1.  Any child, […]

Filed Under: Estate Planning Tagged With: bipolar disease, Estate Planning, heir

Recent Blog Posts

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Thirteen Legal Myths

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Inches Matter in Homeowner Restrictions

Last Will and Testament with magnifying glassLast Will and Testament with magnifying glass

14 Compelling Reasons You Need A Last Will and Testament

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