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Message
Question regarding death proceeds w/o will in LA
Posted on 1/21/24 at 2:47 pm
Posted on 1/21/24 at 2:47 pm
Recently had a friend die without a will.
He had been married previously, and had a couple kids in the first marriage. His second (and current) marriage was very much longer, but produced no kids.
Without a will, how would the proceeds from his current be divided? Proceeds/assets, whatever the correct word is.
This in in Louisiana.
He had been married previously, and had a couple kids in the first marriage. His second (and current) marriage was very much longer, but produced no kids.
Without a will, how would the proceeds from his current be divided? Proceeds/assets, whatever the correct word is.
This in in Louisiana.
2
Posted on 1/21/24 at 2:58 pm to Grassy1
This is/could be a shite show.
Life insurance and retirement accounts will pass to named beneficiaries.
Other assets will be some combination of some to current spouse and some to natural heirs (children) with possible usufruct involved. His kids and his current spouse probably need to retain their own separate counsel.
Life insurance and retirement accounts will pass to named beneficiaries.
Other assets will be some combination of some to current spouse and some to natural heirs (children) with possible usufruct involved. His kids and his current spouse probably need to retain their own separate counsel.
This post was edited on 1/21/24 at 9:38 pm
Posted on 1/21/24 at 2:59 pm to Grassy1
I would say current wife gets half and the 2 kids split the other half.
Posted on 1/21/24 at 4:13 pm to tigger4ever
Based on my experience with real estate attorneys in Georgia, that is a good expectation.
Posted on 1/21/24 at 4:14 pm to tigger4ever
If he dies with children and a spouse, the spouse maintains a usufruct right in community property and the children inherit all of the separate property (property he had before the marriage) and the community property subject to the spouse's lifetime use of it. This usufruct will end when the surviving spouse either dies or remarries. Inheritance laws favor children more than surviving spouse if you die without a will in Louisiana.
This post was edited on 1/21/24 at 9:33 pm
Posted on 1/21/24 at 7:48 pm to tigger4ever
quote:
wife gets half and the 2 kids split the other half.
This. If the parties all get along, it may work out OK. I wouldn't bet on it. Death and Money bring out the worst in people
Posted on 1/22/24 at 10:40 am to go ta hell ole miss
I appreciate the feedback. I'm just a friendly observer hoping for the best for the entire bunch.
If the usufruct situation works out, sounds like a win-win-win.
If the usufruct situation works out, sounds like a win-win-win.
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