I was working with a Shreveport couple recently helping them set up their estate legal program. One of their three children lived in Shreveport. Another lived in Monroe. The youngest lived in Alexandria, Louisiana. All three of their children were married and some of those spouse exercised a lot of influence over their spouse.
The husband asked a question that we get quite often. It goes something like this, "How can I make sure that when I die, if my wife wants to sell our home, that she does not have to get the permission of our children to sell the home?
Well, the most popular ways to do this are as follows:
- Will Home Outright to Wife. The husband can have a Last Will and Testament and bequeath the Shreveport home outright to his wife. After he dies, the wife will have to complete the husband's Succession/Probate with any of the other heirs before she would be permitted to sell the home.
- Will Usufruct of Home With Authority To Dispose. This one can be tricky. The husband can write a Last Will leaving the usufruct of the Shreveport home to his wife. But that is not enough for her to freely be able to sell it after he dies. In the husband's Last Will, he will name the naked owners of the home, but he must provide (this is where it gets a little complicated) that the naked ownership interests are held in trust with the surviving wife as the trustee. It also helps if in his bequest of usufruct, he also grants her the "authority to dispose of nonconsumables." A Louisiana Succession will still be necessary after he dies to remove the property from the Husband's name.
- Put Home In Trust. He can put his home in a trust and designate that his surviving wife is the trustee of the trust after he dies. This may be the simplest way accomplish the husband's wishes. After the husband dies, a Louisiana Succession is not necessary to re-title property in trust. The home will simply remain in the trust after the husband dies, and the wife will immediately be able to sell the home without having to seek the permission of any of the children.
Whether you live in Shreveport, Monroe, Alexandria, Lake Charles, Lafayette, or any other Louisiana town or city. you can arrange your estate legal program so that your spouse will not have difficulty after you die if your surviving spouse wants to sell the home or other property. When a surviving spouse is forced to get the permission of all of the children (and indirectly that often means the spouses of the children chime in) it can often create irreparable family conflict which never improves.
Give our Louisiana statewide telephone number (866-491-3884) a call if this makes sense to you and you'd like your estate to be handled the easy and right way when you die. I look forward to the opportunity to have a conversation with you about your estate planning goals and how we might be able to help you accomplish them.