Louisiana Real Estate – Succession Laws And Some Beneficial Changes In Them
Succession Laws And Some Beneficial Changes In Them
The Louisiana Legislature has made significant beneficial changes in the laws governing small successions. Prior to these changes, a small succession was defined as one in which the person died without a will, owned no immovable property (real estate) except a cemetery space intended for the burial of the deceased, and owned assets valued at $50,000.00 or less. In such cases an Affidavit was prepared, signed by all heirs, notarized and sent to Louisiana Department of Revenue for certification that no taxes were due. This Affidavit would then be presented to banks, insurance companies or other institutions that held the assets of the deceased and was sufficient to allow the release of the funds to the heirs. It was not necessary to open probate through the courts.
There are three significant changes to these laws. The first of these changes now defines this as one in which the person leaves property in Louisiana with a gross value of $75,000.00 or less. This appears to apply after January 1, 2010, regardless of the date of death. In other words, the $75,000.00 limit should apply regardless of whether the decedent died before or after January 1, 2010.
The second change extends the use of the Affidavit of Small Succession to include immovable property (real estate) under certain circumstances. Immovable property here is limited to a single lot or contiguous lots. These lots must have only one building plus ancillary buildings (sheds, etc.). The building can have no more than four dwelling units within the one building. Each of the units must be residences primarily. Additionally, either the decedent or the surviving spouse must have lived there and it was the last place of residence of either of them until illness, incapacity, natural disaster or destruction required either or both of them to leave.
In other words, if your relative owns a single house, or apartment building with no more than 4 units, and lived in one of them until too ill to live alone, that property can be passed to the heirs through an Affidavit of Small Succession as long as the total value of the estate does not exceed $75,000.00. In this case it must be recorded in the conveyance records of the parish where the property is located along with a certified copy of the decedent’s death certificate.
The third change involves the
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requirement to have the Affidavit certified by the inheritance tax collector that no taxes are due. It should no longer be submitted to the Department of Revenue for certification.
The law has not changed in its requirement that a person must die without a will in order to utilize an Affidavit of Small Succession. Additionally, use of this is only available if the heirs are his children, parents, brothers or sisters or their descendants, or the surviving spouse. This is not available if the person is survived only by more remote relatives such as aunts, uncles or cousins.
When use of this sworn statement of Small Succession is applicable, it is not necessary to open probate through the courts. This must be prepared, executed and sometimes recorded within the requirements detailed in Louisiana Law. It is wise to consult a seasoned professional.
By: Anna Woodward
Article Directory: http://www.articledashboard.com
In Louisiana succession laws and related cases are handled professionally by the staff at Melchers Law Firm. They work with executors, trustees and beneficiaries in the administration of estates to efficiently transfer assets resulting from death. To know more, visit www.melcherslawfirm.com
Time To Get Out Of Dodge? – Relocate Ahead Of The Collapse
by: Mick Winter
Peak Oil? Economic Collapse? Maybe the universe is trying to tell you something. Maybe it’s Relocation, Relocation, Relocation.
With many people predicting a serious economic depression, and others equally–or also–concerned about the approaching depletion of oil production (“Peak Oil” – For full information, see Dry Dipstick at www.drydipstick.com), you might consider moving to a quieter, more sustainable, less oil-dependent location.
Of course you might be fine living exactly where you are now. It’s certainly easier to stay where you are than to move. No one can predict, certainly not with certainty, where the best places might be to deal with the future. Many observers think that large cities are definitely not the best location. Others suggest that any town dependent on water and food that comes from a large distance may not be ideal. They suggest a small town with adequate water and nearby farms. When it comes down to it, no one really has the foggiest idea, so you’re on your own.
If you wish, you can run off into the hills, create a mountain fortress, and be a dyed-in-the-wool, nobody-come-near-me loner. Others believe that if a true survivalist is someone who wants to survive, the best way to do that in the 21st century is in a community. (If you’re really into survivalism, we suggest you check out www.survivalist.com.)
The choice is yours. If you still have the time, we can suggest resources for finding a place to live both in the United States and in countries around the world.
Inside the United States
If you currently live in the United States, you might want to consider simply moving to another state rather than going abroad. Things generally get much cheaper when you move away from the coasts, and the quality of life can be very good. Plus, they speak English there (more or less) and you can usually get all the stuff you’re probably used to. (Assuming stuff is still available.)
There are a number of excellent web sites to help you in your search for a place to move to. Moving.com’s (www.moving.com) city profiles provide information on hundreds of cities. The profiles include cost of living, taxes, home costs, insurance costs and quality of life factors such as population, crime, weather and education.
Moving.com can also help you find real estate and arrange for moving logistics. You can even compare the profiles of two cities of your choice.
BestPlaces (www.bestplaces.net) lets you compare two cities from a list of over 3,000 places in the U.S. You’ll see a comparison of nearly 100 categories. BestPlaces offers neighborhood profiles for every zip code in the U.S., in-depth profiles on over 85,000 schools, a cost of living calculator that compares cities and determines what salary you’d need at a new location to maintain the same standard of living as you have now. Plus you’ll find crime rates for over 2,500 U.S. cities, most and least stressful cities, and climate profiles for 2,000 cities worldwide.
You can even take a “Find Your Best Place” quiz to determine your own recommended best places to live. BestPlaces also publishes the book “Cities Ranked and Rated”, with detailed information on over 400 metropolitan areas in the U.S. and Canada. You might also find the Most Livable Communities website helpful (www.mostlivable.org/).
Our favorite resource is FindYourSpot (www.findyourspot.com). It offers a fun quiz (it’ll take you less than 10 minutes) with great questions, and it produces a list of two dozen cities that fit your quiz answers. Results for each city include an attractive downloadable four-page report with an insightful overview of the character of the area and information on climate, arts and culture, recreation, education, housing and cost of living, crime and safety, health care, and earning a living. You’ll also find links to currently available jobs and housing, roommate services, recommended city-specific books, and travel deals if you’d like to personally visit the city.
Outside the U.S.
Wondering where the best country is to move to? We suggest that there is actually more than one “best country” for you. You find them by:
1) visiting every possible country and seeing which ones you like best, or
2) researching every possible country, zeroing in on those you feel most attracted to, and then visiting those countries. We suggest that the best way to begin is to use the Web, particularly the sites we list below.
Bottom line? Visit a country and spend some time there before making the actual move. Most experienced expatriates suggest living at least six months in your host country before permanently moving there. And remember, you’re not going to live in an entire country, just in one specific place in a country. You don’t have to love the entire country to be able to find that one special place just for you. You’re looking for a region, a city, a town, even a neighborhood where you can find the qualities you want in a new home.
Here are some websites that should help in your quest for a new country.
Boomers Abroad (www.boomersabroad.com)
A website devoted to giving you the best and most comprehensive information available on the Web about beautiful (and affordable) warm coastal countries, how to get there and how to live there. Whether you’re looking to be a retiree, a working expatriate, or simply a visitor, Boomers Abroad is your place on the Web for Costa Rica, Cuba, Mexico, Nicaragua, Panama, and Uruguay.
Expat Communities (www.expatcommunities.com)
A directory of more than 110 countries with sizeable English-speaking (and usually international as well) expatriate communities. English-language websites, organizations, online forums, meetups, local newspapers, and books of interest to current and potential expatriates. These websites will give you, or link you to, all the information you’ll need to decide if a particular country might suit your needs and deserves future exploration.
Expat Stuff (www.expatstuff.com)
Wherever you end up living as an expat, you’ll need stuff. And information. And services. This website is an excellent directory with a focus on the endless variety of information, services and tools you’ll need to enjoy life and create your own income while living abroad. You’ll also find information on such things as communication, health insurance, obtaining a passport, links to country information, and general expatriate blogs and websites.
About The Author
Mick Winter is the founder of Beyond Peak (www.beyondpeak.com) – A guide to self-sufficiency and living sustainably with Peak Oil and economic collapse.
Hey Readers! I’ve been comin across some crazy stuff the past few days from a few different blogs around the web which I just had to share with you. Check em out below…
304 1/2 LAGNEAUX RD , DUSON, LA, 70529, USA is a Louisiana Home …
Location: 304 1/2 LAGNEAUX RD , DUSON, LA, 70529, USA – Bedrooms: 2 – Bathrooms: 1.0 – Listing type: For Sale – Property type: single family home.
Optimistic Outlook for Housing, But Challenges Remain | RISMedia …
Optimistic Outlook for Housing, But Challenges Remain | RISMedia | Beverly Hills Homes, Beverly Hills Real Estate – http://www.ChristopheChoo.com is a post from: Beverly Hills Real Estate-Beverly Hills Homes For Sale – Luxury Homes.
THIS PROPERTY IS LOCATED ON HWY 11 IN BURAS…
Real Estate for Sale, ListingId:15115207, location: 35525 Hwy 11 Hy Buras, BURAS, LA; $275000; 2486 sf; This property is located on hwy 11 in buras. This great property offers 12 offices and upstairs could be used as an addition office …
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