Avoid Probate

How To Amend or Modify a Revocable Living Trust

It is common for people, as part of the estate planning process, to establish a revocable living trust to provide for the disposition of trust assets outside of probate. Occasionally, people who previously established a revocable living trust want to amend or modify or revoke their trust.

Reasons why people would amend their revocable living trust include someone wanting to change the beneficiaries of their trust; someone wanting to amend how a beneficiary receives his or her portion or share; or perhaps changing the name of the Successor Trustee who is in charge of administering the trust after the death of the Settlor (the person who established the trust).

So, how do you amend or revoke your trust? Well, you must first look to the state law of the state that governs the trust instrument. The following is an overview of the Louisiana law applicable to modifying or revoking a trust.

What you should never do is pull out a pen and pencil and start marking on your trust. None of this will be valid. Most trust amendments or revocations in Louisiana are done by authentic act. An authentic act, generally, is a writing executed before a notary public and two witnesses, and signed by the person amending their trust, the witnesses, and the notary. Most trust amendments are done this way.

The Louisiana Trust Code also provides for modifying a trust by act under private signature, and also by testament. Even though Louisiana law provides for three different ways to modify a trust, most amendments are done through an authentic act.

Bottom line - don't try to amend or revoke a will or trust without getting some legal help from an estate attorney. Different rules apply to wills and trusts, and you must work with an attorney who understands all of this and helps you get it right the first time - there is too much at stake.

This post is for informational purposes only and does not provide legal advice. Please do not act or refrain from acting based on anything you read on this site. Using this site or communicating with Rabalais Estate Planning, LLC, through this site does not form an attorney/client relationship.

Paul Rabalais

Louisiana Estate Planning Attorney

www.RabalaisEstatePlanning.com

Phone: (225) 329-2450

Arranging a Louisiana Estate for Asset Protection and Easy Inheritance

This post describes how Irrevocable Grantor Trusts are used to protect assets while parents are alive, and then to provide for an easy transition or inheritance to the children or other heirs.

As folks age, they often worry that they will run out of money before they die due to their longevity and all of the threats that seniors face these days.

Many seniors create trusts to help protect what they've worked for. They often keep some assets in their name, and they transfer other assets to a trust that they create.
 
Because their assets are titled in the right kind of trust, with the right kind of asset protection provisions, they are less likely to lose these assets from some kind of life-changing event.

These asset trusts are often irrevocable, but sometimes certain aspects of the trust are amendable. These trusts typically allow for trust assets to be sold and re-invested. These trusts usually have some provision for distributions of principal. Many of these trusts and estates are arranged so that probate is avoided at the death of the Settlors/Grantors/Trustors.

Check with the right estate planning attorney in your jurisdiction to make sure you establish an estate planning legal program that is right for you and your family. Don't try to do this yourself. Too much is at stake.

This post is for informational purposes only and does not provide legal advice. Please do not act or refrain from acting based on anything you read on this site. Using this site or communicating with Rabalais Estate Planning, LLC, through this site does not form an attorney/client relationship.

Paul Rabalais
Louisiana Estate Planning Attorney
www.RabalaisEstatePlanning.com
Phone: (225) 329-2450

The Big Problem in America Regarding Revocable Living Trusts, and What to Do About It! Share This Video Today.

If You Have a Revocable Living Trust, Watch This Now! Congratulations. You took some major steps toward making settling your estate easier. The Probate can be difficult, it takes longer than people want. It's expensive, a hassle, it's a court proceeding.

There's a big estate planning problem out there. The titling process is getting neglected causing families to go through probate.

However, when the revocable living trust is fully funded, the estate settlement is a beautiful thing. But your living trust is only as effective as the assets that you title into it.

Many fully funded trusts are settled without attorney involvement. The surviving spouse maintains access to assets. The surviving spouse can sell the home and buy another, and can access all financial accounts.

Even when probate is avoided, survivors are having to deal with funeral homes, death certificates, the Social Security office, the VA, financial institutions that hold IRAs,  bills that keep coming in, and insurance companies if the deceased had life insurance or annuities. Then, when you add on top of that the requirement of a probate when it was unexpected, then that sometimes is that straw that broke the camel’s back – survivor’s are fragile – going through grief and stress of the loss of a loved one.

There are a few reasons that trusts don’t get funded. People forget they owned that piece of property. People thought they had beneficiaries on all accounts. People didn’t think about buying the new property in the name of their trust. People didn’t think about opening that new account in the name of their trust. People may not have known that they needed to transfer their LLC to their trust. They kept a minimal amount of shares out of the trust. They thought their attorney was going to handle getting everything in the trust, but an attorney can only transfer certain assets into your trust.

Do these three things:

(1) Share this information. Surely you know other friends and colleagues that can benefit from this information. If you are an estate planning attorney, share with your clients along with a note to contact you if they need legal help. If you are a financial advisor, share with your clients and prospective clients along with a note to contact you if they need help titling and beneficiary designations.

(2) Fund your trust. While the process isn’t difficult, it’s easy to get sidetracked or procrastinate. Just make funding your trust a priority and keep going until you’re finished. Take a look at everything you have this is titled. Determine whether assets are probate or nonprobate. Probate assets, in general, go in your trust. There are many excellent attorneys around the country willing to help. If you need a lawyer’s help, get it. While you are at it, update your beneficiary designations.

(3) Write a Comment. if this video can help one person avoid probate and make things easier for their survivors, it’s worth it. Comment with your positive comments and experiences on youtube or linkedin or wherever else you might see or hear this, so that others can and will benefit from your experience.

Now go leave a legacy! Your family will thank you for it.

This post is for informational purposes only and does not provide legal advice. Please do not act or refrain from acting based on anything you read on this site. Using this site or communicating with Rabalais Estate Planning, LLC, through this site does not form an attorney/client relationship.

Paul Rabalais
Louisiana Estate Planning Attorney
www.RabalaisEstatePlanning.com
Phone: (225) 329-2450

Transfer on Death (TOD) and Joint Tenants with Rights of Survivorship (JTWROS) Designations Not Recognized in Louisiana

Many Louisiana residents get confused because they are under the assumption that they can name beneficiaries on their non-retirement accounts at their investment company - but they can't.

Example. Mom and Dad have three accounts at the investment company. Dad owns a traditional IRA. Mom owns a traditional IRA. And they have a joint investment account. They come into the law office to discuss how to leave assets to each other and their family outside of probate and they are convinced that they have named beneficiaries on all of their investment accounts. They later discover that they were only permitted to designate beneficiaries on their IRAs, but not their joint investment account. While other states permit probate avoidance designations on investment accounts, like Transfer on Death (TOD) and Joint Tenants With Rights of Survivorship (JTWROS), these designations are not recognized for Louisiana residents and investment companies do not permit their Louisiana customers to make these designations.

The following are a few examples of large investment companies that realize that the State of Louisiana does not recognize these designations, and thus, state so in their paperwork:

(1) Edward Jones Transfer on Death Agreement. "This Agreement shall not be valid and shall be of no effect in the State of Louisiana." https://www.edwardjones.com/images/transfer-on-death-agreement.pdf

(2) Merrill Lynch Joint Account Agreement. "JTWROS: Joint Tenancy with Right of Survivorship (not available for Louisiana residents)." https://olui2.fs.ml.com/Publish/Content/application/pdf/GWMOL/Joint_Account_Tenancy_Agreement_-_1277.pdf

(3) Merrill Lynch TOD Agreement. Transfer On Death Accounts are available to Account Owners (defined below) who reside in all states within the United States (other than Louisiana)." https://olui2.fs.ml.com/publish/content/application/pdf/GWMOL/TransferOnDeathAgreement.pdf

(4) T Rowe Price TOD Agreement. "TOD is not recognized by the state of Louisiana, so we do not offer TOD for Louisiana residents." https://individual.troweprice.com/Retail/Shared/PDFs/todreg.pdf?src=AccountFinder

(5) Charles Schwab Designated Beneficiary Plan Agreement. "The Plan is not available in Louisiana." https://www.schwab.com/public/file/P-831898/APP10780-16-ADA_-_5_19_2017.pdf

A related issue affects Louisiana bank account holders who make a POD (Payable on Death) Designation. Louisiana banking laws simply release banks from liability to heirs or the estate for paying a beneficiary in accordance with the POD Designation. But if the account owner has different heirs pursuant to a Will or Trust, the POD beneficiary may be accountable to those funds they received.

This post is for informational purposes only and does not provide legal advice. Please do not act or refrain from acting based on anything you read on this site. Using this site or communicating with Rabalais Estate Planning, LLC, through this site does not form an attorney/client relationship.

Paul Rabalais
Louisiana Estate Planning Attorney
www.RabalaisEstatePlanning.com
Phone: (225) 329-2450

Three Aspects To Maintaining Your Living Trust Based Estate Plan

Once you sign your Revocable Living Trust and other ancillary estate planning documents, you should feel peace of mind with knowing that  you've taken steps to protect yourself and your family. However, you cannot set it and forget it. There's some work left to do.

The following are three aspects to maintaining your trust-based estate legal program. 

(1) Trust Funding. As far as avoiding probate is concerned, your trust is only fully effective at helping you avoid probate to the extent that your probate assets are titled in the name of your trust when you die. When you sign your trust, or immediately thereafter, is the best time to title assets in your trust name. You will sign documents transferring your real estate to your trust, and you will work with your financial institutions to make sure that your investments are titled correctly.

(2) Life Changes. You should review your estate program when you have a major change to your life circumstances, such as, divorce, have children, remarriage, enter a blended family, death of a beneficiary, agent, or trustee, you move to another state permanently, you inherit a significant amount, or you change your mind regarding who will inherit or who will be in charge of your estate.

(3) Law changes. Not every law change requires that you revisit your estate planning program. However, recent changes to our federal gift and estate tax system has caused people to structure their estate planning legal program with less emphasis on estate tax avoidance, and more emphasis on capital gains tax avoidance, income tax avoidance, and long term care Medicaid eligibility.

Again, congratulations are in order for taking steps to put an estate legal program in place. But make sure that you complete it in both the short term and the long term by funding your trust the right way, and revisiting your plan in the event of significant life or law changes.

This post is for informational purposes only and does not provide legal advice. Please do not act or refrain from acting based on anything you read on this site. Using this site or communicating with Rabalais Estate Planning, LLC, through this site does not form an attorney/client relationship.

Paul Rabalais
Louisiana Estate Planning Attorney
www.RabalaisEstatePlanning.com
Phone: (225) 329-2450

What Is a "Pour-Over" Will?

Generally, people who establish an estate planning legal program either establish a Will-based estate plan or a Trust-based estate plan. When someone establishes a Trust-based plan, often one of the goals is to have assets titled in the name of the trust at death so that those assets can be distributed immediately to the trust beneficiaries without going through the Louisiana Succession, and its inherent delays, expenses, and aggravations.

People often ask, "If I have a trust, do I need a Will." Well, a pour over will is used in conjunction with a trust based plan. The purpose of the pour over will is to serve as a safety net. If, either intentionally or unintentionally, assets at death are titled in the name of the person who established the trust, then the probate proceeding will be necessary to pour-over those individually owned assets into the trust. 

Often, the ideal scenario is to have all assets titled correctly so that, at death, there are no "probate assets" in the individual's name, and the pour-over Will does not even need to be used. But the pour-over will is prepared and signed in virtually every instance where there is a trust-based plan.

This post is for informational purposes only and does not provide legal advice. Please do not act or refrain from acting based on anything you read on this site. Using this site or communicating with Rabalais Estate Planning, LLC, through this site does not form an attorney/client relationship.

Paul Rabalais
Louisiana Estate Planning Attorney
www.RabalaisEstatePlanning.com
Phone: (225) 329-2450

How To Transfer Vehicle After Louisiana Owner Dies

Many people pass away in Louisiana each year with vehicles titled in their name. Often, surviving heirs want to transfer the title out of the name of the deceased so that the vehicle can be sold, traded in, or driven and insured.

One way to make sure that a vehicle gets transferred to the rightful owner is for all of the heirs to go through the full-blown Louisiana judicial Succession proceeding. When this takes place, the family hires one or more attorneys, Succession pleadings are prepared, detailed lists of assets and debts are submitted to the court, and a judge signs various court orders ordering that assets, including vehicles, be transferred to the right people. Most people feel like this is a hassle - because it is.

However, the Louisiana Department of Public Safety & Corrections, Office of Motor Vehicles, has an Affidavit procedure that surviving spouses and heirs can take advantage of to transfer a vehicle after a vehicle owner dies.

The Affidavit of Heirship requires that a copy of the Death Certificate or a Published Obituary be attached to the Affidavit. It also must be indicated whether the vehicle owner died with no Will (intestate) or with a Last Will (testate).  If the person died testate, a copy of the Will must be attached (or a notarized summary statement of Will contents). You must also attach the title or check off that the title cannot be located.

For example, let's say Dad had a Will leaving any vehicles he owned to Mom. Mom must sign the affidavit and have her signature notarized. In addition, Dad's children must all sign the Affidavit and have their signatures notarized. The rationale is that since Dad's Will is not going through the courts to be probated, then the Louisiana Office of Motor Vehicles want Dad's children to "sign off" on the transfer of title to Mom. If Mom later wants to donate the vehicle to someone else, she can then execute an Act of Donation to the ultimate recipient.

Even though in most cases, the full blown Succession judicial proceeding will be necessary when a vehicle owner dies because they will also own a home, other real estate, investments, or other Succession assets in their name, this procedure can simplify things for families when they are quickly trying to transfer a vehicle after the owner dies.

This post is for informational purposes only and does not provide legal advice. Please do not act or refrain from acting based on anything you read on this site. Using this site or communicating with Rabalais Estate Planning, LLC, through this site does not form an attorney/client relationship.

Avoid Multiple Probates When Owning Property in Multiple States

Was helping a gentleman put his estate legal program in place. He had an old olographic last will and testament but he knew his family would need to go through probate when he died, and he knew he had none of the incapacity legal planning in place.

He owned a home here in Louisiana. And he owned a property on the beach in Florida, and he owned some land in Mississippi. We talked about how, if he owned all of that property in his name when he died, his family would first go through the Louisiana Succession to get his Louisiana property and his investments transferred to them. Then, they would go hire a new set of lawyers in Florida to go through the Florida probate to get the beach property transferred to them - the Louisiana Succession does not transfer out of state real estate. And then, his family would be off to seek out Mississippi lawyers to go through a Mississippi probate to transfer the Mississippi property to the family. Three probates. Three sets of lawyers. Three delays. Three hassles.

We then discussed how he could set up one Living Trust, and transfer all of his properties from different states into the one trust.  Then, when he dies, his Successor Trustee or Co-trustees can immediately either sell the properties or transfer them out of the trust to the appropriate family members - all outside of any probate.

Owning property in several different states can be a good reason to create your trust, transfer your properties to your trust, and avoid all those probates. Probates in other states, when you lived in Louisiana, are referred to as "ancillary probates." You can avoid them by planning ahead the right way.

Paul Rabalais
Louisiana Estate Planning Attorney
www.RabalaisEstatePlanning.com
(225) 329-2450

The Louisiana Small Succession Affidavit Procedure

I've been involved in hundreds of Succession judicial proceedings over the years. Most people perceive these court proceedings as taking too much time, costing too much money, and being too much of a bureaucratic hassle.

Now, in Louisiana, it is possible for a family to skip the full-blown judicial court-supervised Succession proceeding when a family member dies owning assets in their name, but only under the following circumstances.

In certain circumstances, families can transfer title to property by going through the Small Succession Affidavit procedure. When this applies, no judicial pleadings need to filed at the courthouse. The Succession is completed through the preparation and recording of an Affidavit and certified copy of the deceased's death certificate in the appropriate parish real estate records.

However, this affidavit procedure is applicable in limited circumstances. To qualify for this procedure, the Louisiana resident must have died without a last will and testament, and EITHER, at the time of his or her death owned $125,000 of property or less, OR, died at least 20 years prior to the filing of the affidavit.

Note that if a Louisiana resident died WITH a last will and testament, then the Louisiana Small Succession Affidavit procedure is not available. Note also that this procedure is also available when someone died and they are not a Louisiana resident, but they own property in Louisiana - in fact, if they had a Will that was probated in another state, the procedure is available.

The Louisiana Small Succession Affidavit Procedure should make it somewhat easier for families to clear title to property when the assets of the deceased are minimal. Often times, families are stuck because they want to get the property in their name, but the deceased did not leave enough financial resources behind to complete a judicial proceeding. This procedure should help.

Final Steps To Putting Your Trust Program In Effect

Once all of the documents are ready and accurate, it is time for you to sign your legal documents and make it all official. When you sign your trust, you'll also likely sign a host of other legal documents, such as transfer documents transferring real estate to your trust, your pour-over Will, your powers of attorney and living will declaration, and more - depending upon the particular circumstances of your customized estate planning program.

Once all of the documents are signed, your attorney's office will likely record the transfers of real estate at the courthouse. This takes care of making sure that your real estate is in your trust. Also, on your trust is signed, you can visit your financial institutions and brokerage firms to re-title your investment accounts in the name of your trust. 

This process if re-titling your assets into the name of your trust is commonly referred to as "funding your trust." It's important that your trust be funded properly before you die so that your heirs won't have to deal with a judicial administration of your estate after you die.

Gaining Access To Funds Payable To An Estate

I've been working with a family in order to gain access to funds that were payable to "Estate of Dad."

Dad died leaving a last will and testament. He named his two children as the co-executors and the equal heirs. Dad only left two assets in his name, a retirement account and a bank account. There were no designated beneficiaries named on the retirement account, and the bank froze the bank account that was in Dad's name only. The family could not gain access to any of these funds.

The steps one must go through to get access to these funds are as follows:

(1) Co-Executors Confirmed. We will prepare the necessary court pleadings to get the two children confirmed as the Independent Co-Executors. This paperwork, along with the signed original of Dad's last will gets filed at the parish courthouse. The pleadings make their way to a judge's office, and, if approved, the judge signs the court order confirming the children as the Independent Co-Executors. Then, the clerk of court will issue "Letters of Independent Co-Executorship,"

(2) Open Estate Account. The children must use these "Letters of Independent Co-Executorship" to open an estate account at a financial institution. The institution holding the retirement account funds, and the bank where the frozen account is held, will issue checks payable to "Estate of Dad." The co-executors will then deposit these checks into the Estate account.

So, in this matter, the simplest way to get access to Estate funds was to open the Succession, get the Executors confirmed, open an estate account, and then deposit estate funds in the estate account.

Sure , there is more to a Succession, such as preparing and filing the Detailed Descriptive List of Assets and Liabilities, and Petitioning for the Judgment of Possession, but it's these first steps that allows families access to funds payable to an Estate.

How To Review Your Customized Estate Planning Program Prior to Making It Official

When you review your customized estate planning legal program documents, you likely will fall in a range of thought processes from, "I don't need to review anything...just show me where to sign," to "I need to know what every word of every document means, including the definition of 'Pact De Non Alienando'". 

It makes sense, for people who fall in the middle, to want to review the customized portions of their estate plan. Just like when you buy a house and get a mortgage, there is all kinds of legal mumbo jumbo that needs to be in the paperwork.

The following could be a few things that should be reviewed prior to making your estate planning documents official:

(1) Power of Attorney. Is it effective immediately or does it spring into effect upon your incapacity? Do you name one Agent or more than one? If you name more than one, must they act jointly or can they act separately? Did you name any backups?

(2) Living Will Declaration. What did you document regarding the removal of nutrition and hydration if you are in that profound vegetative state with no chance of recovery?

(3) Living Trust. Who did you names as your Successor Trustee or Co-Trustees. What is the distribution schedule after you die? Are beneficiaries to receive their distributions outright or does the trust continue for certain beneficiaries? And if it continues, under what terms? Don't get too caught up in the trustee powers and duties (unless you intentionally wanted to customize these powers and duties).

Once you have peace of mind that all of the substantive components are in order, then go ahead and make it official and have the security that comes with knowing that your legal affairs are in order.

Paul Rabalais
Louisiana Estate Planning Attorney
Phone: 866-491-3884

Subscribe to my Youtube channel (Rabalais Estate Planning, LLC)

Info to Gather When Starting "Avoid Probate" Living Trust Based Estate Plan

I'm often asked, "Paul, what information do we need to gather and bring in to get started on our estate planning?" Well, this advice is based on a "typical" (even though there is no such thing as typical because every family's situation is unique and requires customization) person or couple who wants to set up an estate legal program and prevent their family and loved ones from having to go through the court-supervised judicial probate or Succession estate administration process. This typically involves establishing a Living Trust and transferring title to some of your assets into your trust while you are alive in order to make it easy for your Successor Trustee to access and disburse those assets when you die.

In general, there are three groups of information that must be provided: (1) family information; (2) asset information; and (3) substantive legal decisions.

(1) Family Information. This is typically simple. We are going to need the names of all who will participate in your estate planning program either while you are alive or after you die. This typically involves the full names (as you would have them listed in legal documents) of yourself and spouse, children, and sometimes grandchildren or others if they are included. We typically do not need the social security numbers of all of these people. although you may have to provide these numbers to financial institutions on items like IRA and annuity beneficiaries.

(2) Asset Information. When you get started, you should have a good working knowledge of what you own. It is particularly helpful if you gather, up front, all of your real estate legal descriptions. In Louisiana, these real estate legal descriptions can be found on the "Act of Sale" from when you purchased the property, or the "Judgment of Possession" if you inherited the property. We need these up front so that we can prepare the necessary transfer documents that will be signed at the same time that you sign your trust. Documents regarding investments and brokerage accounts don't have to be provided up front (but great if you have them), because you cannot transfer those assets to your trust until after your trust is signed.

(3) Substantive Decisions. All of the "who gets what, how they get it, who will be in charge" decisions are gathered through the dialogue you'll have with your estate planning attorney. These are important decisions and you need an experienced attorney to guide you through this. But it doesn't hurt give some good thought to these things in advance.

Paul Rabalais
Louisiana Estate Planning Attorney
www.RabalaisEstatePlanning.com

A Last Will and Testament Ain't Asset Protection

Was working with a Louisiana couple that came in to discuss getting their estate legal affairs in order. While different people have different priorities when it comes to estate planning (taxes, nursing home expenses, probate, blended families, children who spend, disabled children, in-laws you don't like, protect grandchildren, who will be in charge, health care decisions, to name a few), this couple perceived their biggest threat the potential to lose their savings and home to nursing home expenses. One of the spouses had an illness that didn't pose an immediate threat to independent living, but there is certainly the likelihood down the road that long term care will be needed.

One of the spouses, who was not real educated, mentioned on one or more occasions something like, "While I kinda heard that when it comes to estate planning, all you need is a Will." 

I get that in coffee shops and in barber shops people give advice to their friends and colleagues. But when it comes to the intricacies and varied issues involved these days, one-size-fits-all advice just doesn't work.

Obviously, if you write a Last Will and Testament, you are going to leave all of your assets in your name. If you have assets in your name and you go into a nursing home, you must spend your assets first before Medicaid pays for the care. They let you keep your home but Medicaid will have Estate Recovery rights so that when you die, your home must be sold to reimburse Medicaid for what they spent on your care - after you spent all of your own money.

Because there is uncertainty in life, I don't know how this family's story will end. They've worked hard to accumulate what they have. It sounds like their children and grandchildren could really benefit from an inheritance. But only time will tell what will happen in the future.

Paul Rabalais
Estate Planning Attorney
paul@RabalaisEstatePlanning.com
Phone: 866-491-3884

Sell or Distribute Assets When Someone Dies?

When someone dies with assets, whether those assets are in trust or not, the people in charge must make a decision to either sell (liquidate) the assets, or distribute them in their same form to those left behind.

When someone with a living trust dies, the Successor Trustee is typically heavily involved in that decision. If it is appropriate to sell assets, then the Successor Trustee will sell those assets, the proceeds of the sale will be payable to the Trust, and the Successor Trustee will deposit those funds into a trust account for subsequent disbursement to the beneficiaries of the trust. Trustees will sometimes sell real estate (a home, for example) that the survivors have no use for. Successor Trustees may also sell mutual funds or other investments and disburse those to beneficiaries.

On the other hand, sometimes it makes sense for the Successor Trustee to simply distribute the assets to the beneficiaries in the same form. Occasionally, a family has an emotional attachment to stock that a parent owned, and the beneficiaries will receive the stock in their own name.

Sometimes the family will want to continue owning real estate owned by the deceased (or the deceased's living trust). The Successor Trustee, immediately after the death of the Settlor, can transfer the real estate to the beneficiaries, outside of probate, so that each beneficiary owns an undivided interest in the real estate. It's also not uncommon, if the real estate was not owned in a limited liability company, for the beneficiaries to form an LLC and put their undivided interest in the property into the LLC. This could limit their liability exposure. Each beneficiary would then own a membership interest in the LLC.

So there are lots of decisions, each with tax consequences, that must be made when someone with a trust dies. Note that if there was not living trust, then the executor of the Last Will has similar decisions to make, but the actions of the executor are under the scrutiny of the judge that is assigned to oversee the Succession judicial proceeding. It's generally easier to administer a trust after a Settlor dies than it is to administer a Louisiana Succession which requires extra judicial processes and supervision. 

Paul Rabalais
Louisiana Estate Planning Attorney
paul@rabalaisestateplanning.com
Office phone: 866-491-3884