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| Name | Prohibited Substitution in Louisiana Last Will is Null |
| Video Uploader | Video From America's Estate Planning Lawyers |
| Upload Date | This Video Uploaded At 03-03-2018 18:20:08 |
| Video Discription | The Prohibited Substitution estate planning rules in are a trap for the unwary. When someone writes a last will and testament, or a trust, in a way that it contains a prohibited substitution, then the bequest is null. So, what is a prohibited substitution? Well, here's an example of a provision in a Will that would be interpreted as a prohibited substitution, "I leave ownership of X to Person 1. I require that Person 1 preserve X and, when Person 1 dies, I require that Person 1 leave ownership of X to Person 2." You cannot donate or leave something in full ownership to one person with a charge to preserve it and deliver it to a second person at the death of the first person. You would be depriving the first person from the power of testation. A prohibited substitution might be something that I'd see in an olographic testament. Some people attempt to write their own wills in their own handwriting, but they mess up the provisions of the Will. People in sometimes argue that they can write their own valid will, but they often fail to realize that the wording that they put in their will can make their loved one's lives miserable. A prohibited substitution is null - it's as if it was never written. The bequest to the first person is not even valid. There are a couple of alternative you can use if you want to leave an asset for the benefit of someone, and then when that someone dies, have the asset pass along to another someone. One way to do this is to use a trust - check with your estate planning attorney to help you do this the right way. Another option that might be feasible is to leave usufruct of an asset to someone, and name the naked owner to receive the asset at the termination of the usufruct. Again, check with your estate planning attorney to make sure that you understand the pros and cons of leaving things in trust or in usufruct. 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 Estate Planning Attorney www.RabalaisEstatePlanning.com Phone: (225) 329-2450 |
| Category | Comedy |
| Tags | Prohibited Substitution in Louisiana | Prohibited substitution in testament | Louisiana Prohibited Substitution | Louisiana Civil Code article 1520 prohibited substitution | Paul Rabalais estate attorney Louisiana | Baton Rouge estate planning attorney |
