Understanding the Difference Between Executors, Administrators, and Trustees
Louisiana trust and estate planners encounter three common legal roles regularly, the roles of Executor, Administrator, and Trustee. Clients often confuse these roles because the rights and responsibilities of the Executor, Administrator, and Trustee are similar. Additionally, the same person(s) [...]
2023 Medicaid Asset Limits Released
Aging Louisiana residents often wonder what will happen if they fall ill late in life and need long term care. So many hear horror stories about friends, neighbors and relatives who lose their entire life savings paying between $5,000 and [...]
Don’t Forget Those Crummey Letters!
To avoid estate taxes, some Louisiana families utilize special trusts known as Crummey trusts in making annual gifts to family. Currently, each individual may gift up to $15,000 per gift recipient without negatively impacting their lifetime estate and gift tax [...]
Warning: Stay on Top of Your Louisiana Beneficiary Designations
Last week I met with a Mandeville client mourning the recent loss of her husband. The husband wrote a will leaving everything to his wife. However, the will does not cover his IRA, one of the largest assets in his [...]
Half-Siblings Only Inherit Through Shared Parent in Louisiana Intestacy
This week I encountered an interesting case study in Louisiana Intestacy Law. Intestacy laws take over when someone dies without a will. I am working on the intestate succession with a client whose son recently died. The son had no [...]
Should You Place Motor Vehicles in a Louisiana Living Trust?
Anyone who reads this blog consistently knows my practice advocates for the use of living trusts in Louisiana. For many families, living trusts create a more efficient estate settlement through their avoidance of the Louisiana probate process. Typically, we encourage [...]
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