Laws on Successions in Louisiana
Louisiana succession law controls how a person's property will be dispersed after his death. The process of determining who will inherit the deceased property is based on whether there is a will. If there is no will, the state sets forth a succession order.
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No Will
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A spouse does not always receive property. A specific set of rules determines who will inherit the deceased property. If there are children, property will go to the children before the spouse. The law also gives separated property, such as those owned prior to marriage, to nieces, nephews, brothers and sisters of the deceased before the spouse.
Inheritance Tax
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In 2008, Louisiana made changes to the inheritance tax, which had been imposed on anyone receiving property belonging to the deceased. The inheritance tax was eliminated for deaths occurring after June 30, 2004. Taxes that are owed on the property should be paid nine months after death to avoid interest.
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Small Succession Changes
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In 2010, small successions changed from estates valued at $50,000 or less to $75,000 or less. Small successions now include immovable property, such as lots with one building and sheds. An affidavit stating that no taxes are due must be certified by an inheritance tax collector instead of the Department of Revenue.
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References
Resources
- Photo Credit Mein letzter Wille â€" Testament image by Marem from Fotolia.com Real Estate image by Stephen VanHorn from Fotolia.com
