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A personal representative in Louisiana, also known as an executor, administrator, or succession representative, is responsible for collecting, preserving, and managing succession property according to state laws. During this succession, the personal representative will be treated as owning all of the property and having the right to enforce all the succession debts. However, because every…
In Louisiana, the law uses the word succession to mean the probate process. As a result, succession refers to the transfer of an individual’s estate to their heirs or successors after they pass away. However, while in theory, this transfer should be straightforward. There are many different types of challenges and disputes that can emerge…
If you cannot pay the approximate $6,000 per month for nursing home care, then you must qualify for Medicaid to pay for your care. Besides having to spend down your assets to $2,000, when you qualify for Medicaid, the Louisiana Department of Hospitals requires you to pay over all your income less your health insurance…
The answer to the question is complicated. Does the person going in the nursing home have an intent to return the home in the event they could leave the nursing home? If the person has an intent to return to the home, then it is considered to be a non-resource. Therefore, the person can keep…
While discussing future plans for when you pass away is not the easiest conversation to have, it is an important one. What’s more, these discussions should start way sooner than you may expect. In fact, to properly manage the details of your life and help your loved ones ensure your wishes are carried out, estate…
Estate planning is a great way to come up with a plan for the future, figure out how to manage assets and affairs during your lifetime, and provide your loved ones with a plan they can reference when you can no longer do so for yourself. However, with all the benefits that estate planning can…
A gun trust is used primarily to help pass firearm ownership to other individuals when the gun owner dies. Not only are there numerous benefits of these gun trusts, especially in Louisiana, but these trusts also allow gun owners to have peace of mind that their guns are going to people they can rely on….
To be fully protected for medical issues, ever person needs a health care power of attorney, advance medical directives, and a living will. Without the advance medical directives , you lose control over your medical decisions in the event of incapacity. The only way to maintain control if you cannot communicate is to have instructions…
All parents worry about their children, especially when it comes to their future. However, when a parent has a child with disabilities or special health care needs, this worry can involve numerous other concerns, such as who will take care of their child when they are gone, where their child will live, and who will…
Your will or trust does not determine who inherits your IRAs, 401(k)s , pensions, annuities, life insurance, transfer on death accounts, payable on death accounts and health saving accounts . The above mentioned accounts are inherited by the beneficiaries named in the account, contract, account application, or beneficiary designation form. We have had estate planning…
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