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.
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 […]
14 Compelling Reasons You Need A Last Will and Testament
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 […]
How to Avoid Unnecessarily Complicated Louisiana Estates
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 […]
Ten Reasons You Need a Healthcare POA
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; […]
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 […]
Louisiana studies pet trusts
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 […]
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, […]
