A Guide to Classifying Property for Succession in Louisiana

Louisiana’s community property laws play a key role in how assets are divided during intestate succession (when someone dies without a will). If you're preparing or updating a succession plan, it's essential to understand the difference between community and separate property.

Key Points to Know

Community Property: Generally includes assets acquired during marriage, including income and property purchased with joint funds. Both spouses own an equal share.

Separate Property: Includes assets acquired before marriage or during marriage by inheritance or donation to one spouse. Separate property remains solely owned by the individual spouse.

Reimbursement Claims: If community funds are used to improve separate property (or vice versa), a reimbursement claim may arise, but ownership remains unchanged.

Tips for Succession Planning:

1. Make an Inventory of Assets: List all your assets and classify them as community or separate property.
2. Review Matrimonial Agreements: If you have any matrimonial agreements, ensure they are documented and reflect your current wishes.
3. Consider Heirs and Beneficiaries: Clearly specify who you want to inherit your property and ensure they are aware of any community property claims.
4. Keep Detailed Financial Records: Document any improvements made to separate property with community funds or vice versa for future reimbursement claims.
5. Consult an Attorney: Work with an attorney to ensure your succession plan is legally sound and meets Louisiana’s community property laws.

By understanding how property is classified under Louisiana’s community property laws and following these tips, you can create a succession plan that ensures your assets are distributed according to your wishes and minimizes confusion or disputes among heirs.

For expert advice on succession planning and property classification, contact Anderson Traylor Edwards Law Firm for a free consultation. We’re here to help you secure your legacy and protect your loved ones.