Highlight In Legal Louisiana Deed Of Trust Forms For Free

The assets in your last will will be subject to probate court, a time intensive and expensive legal process. A living trust in Louisiana can help you avoid these additional costs. Find out more about living trusts and how one could help you.

Ing to Louisiana inheritance laws, if you die with a will and the estate has a value greater than $125,000, surviving spouses and children must undergo probate. The Louisiana probate process ensures heirs receive their shares of the estate as intended by the decedent ? the person who has died.

To avoid probate, most people create a living trust commonly called a revocable living trust. It is ?revocable? because you may revoke it at any time. An irrevocable living trust (most often used for Medicaid planning) also avoids probate, but requires the person creating it to give up the right to revoke it.

There are two basic types of Deeds of Trust, the Long Form and the Short Form. The Long Form, which could be 20-30 pages long, is the one used by institutional lenders. The Short Form is the one that is most usually prepared by your Escrow Officer.

Generally, a decedent's estate goes through succession or probate in Louisiana if the estate is worth $125,000 or more, regardless of whether the decedent died with a will (testate) or without a will (intestate).

One of the most common ways to avoid probate is to create a living trust. Through a living trust, the person writing the trust (grantor) must "fund the trust" by putting the assets they choose into it. The grantor retains control over the trust's property until their death or incapacitation.