Louisiana Estates: Probate Law & Probate Advance or Inheritance Loan Funds

If you’re an heir of a Louisiana probate estate or trust beneficiary, you want to insure that you are in sync with your lawyer, and any new Louisiana probate laws. If you want to receive fast inheritance advance funding, with low inheritance advance or probate advance rates – be sure to choose your estate advance or inheritance cash advance funding company with care.

Inheritance Cash Advance Funding and so-called “Probate Loans” or “Inheritance Loans” in Louisiana

It just so happens that many Louisiana probate estate heirs and beneficiaries of trusts would rather get an advance on inheritance from their living parents, or single surviving parent, than wait 12, 15 or 18 months for probate to close out. However, when inheritance advance funding from both parents or from a surviving parent is not possible as both parents have passed – heirs of Louisiana estates will frequently receive an advance on inheritance, usually a large advance inheritance, a so-called “loan on inheritance” from what people often incorrectly call an “estate loan” or “inheritance loan” or “probate loan” company. An estate advance, or inheritance cash advance transaction, that heirs often (incorrectly) refer to as “borrowing against inheritance”, or getting an “inheritance loan” or “probate loan”. A lot of heirs will choose to get inheritance advance funding through an advance inheritance or probate advance company; usually a probate advance company with a good reputation – often one of the more established inheritance advance funding companies that have been funding inheritance money to heirs for decades. Many heirs will pick a 48 or 72 hour probate cash advance; generally seen as the best inheritance advance funding option – meaning an inexpensive probate advance as well – in other words, inheritance advance funding from a fast low profile online inheritance advance company with nice low probate advance rates, or as heirs often refer to it, “low inheritance loan fees”.
How Do You Receive an Inheritance Advance in Louisiana?
Even though a Louisiana probate process is slow… there are ways to access inheritance money faster than waiting a year for probate to end. Inheritance cash advance funding is typically a quick transaction, and simple – as long as the heir needing a fast probate cash advance has signed with a reliable inheritance advance funding company, with a mature probate advance staff. My Inheritance Cash inheritance cash advance funding generally gets heirs their inheritance money in days. Without up-front costs or hidden fees; without monthly payments or compounding interest; and without a credit report or credit score. So rather than waiting for 12 to 18 months to get access inheritance money, Louisiana heirs generally wait for their inheritance advance for only 2 or 3 days.
How Do You Get Approved For a Probate Advance; What Heirs Often (incorrectly) Refer to as an “Inheritance Loan” or “Probate Loan”?
To get approved for a probate advance in Louisiana, heirs just need a Photo I.D., documents proving you are a valid heir of a Louisiana estate or trust, proof of inheritance assets– real property, liquid assets, and personal property… plus the amount of money requested as an advance.
Which Louisiana Counties Enable Heirs to Get an Inheritance Advance?
Louisiana allows inheritance cash advances or, as many heirs refer to as “estate loans”, “inheritance loans” or “probate loans”… in every county in Louisiana – discounted estate cash advances, probate advances with regular pricing, 48 hour probate advances or 72 hour probate cash advances for heirs or beneficiaries.
How Can You Tell For Sure if you Qualify for Inheritance Funding?
It is usually very simple figuring out if you qualify for inheritance advance funding, for a standard inheritance advance, probate advance or an estate advance in Louisiana, based either on probate property or liquid assets. Besides relevant documentation, you must be at least 18; be an heir to an estate in probate or trust, in the USA or Canada; with an inheritance of at least $15,000.
Is a Louisiana Inheritance Advance a “Cash Advance Assignment”, or is it “Borrowing Against Inheritance” as Many Heirs Refer to it?
No matter how much inheritance advance money you receive from an inheritance advance funding company, you are in fact getting an inheritance advance assignment, a cash advance based on your inheritance – not actually an “inheritance loan”, or “probate loan”. It is important to make note of this, in terms of the nuts and bolts associated with this process.
Inheritance cash advance assignments in Louisiana are not interest based, so they are not actually “loans”… therefore there is no possibility of “recourse for non-payment”. The point is, heirs receiving advance inheritance money from inheritance cash advance funding companies are not personally responsible for repayment. Many people will call inheritance cash advance assignments: “inheritance loans”, “inheritance advance loans”, “probate loans”, “estate loans”, or “probate advance loans”; however it is important to note the difference – clients of inheritance advance funding firms do not technically “borrow against inheritance”; and do not actually “get a loan on inheritance.”

Does Louisiana Have an Inheritance or Estate Tax?

Louisiana does not have an Estate or Inheritance Tax. It is, however, a community property state, meaning that all property acquired during marriage is considered to be jointly owned by both spouses. Executors will still need to file the following:

Federal/State Individual Tax Return by tax day of the year following the person’s death
Federal Estate/Trust Tax Return by April 15 of the year following the person’s death
Federal Estate Tax within nine months of the person’s death, with six-month extensions if requested before the end of said nine-month period

As of 2018, this pertains to Estates that exceed a gross asset and prior taxable gift value of $11,180,000

Dying With a Will in Louisiana

In Louisiana, a will is considered testate if it is signed by both the decedent and two witnesses (ideally, not persons inheriting a portion of the estate). A notary must also be present.

An Executor should be named in the will to manage the Estate, which will include distributing assets and settling debts.

In Louisiana, Estates valued over $75,000 typically enter Probate. If less, a Small Estate Affidavit can be filed to settle the Estate outside of court. 

Dying Without a Will in Louisiana

Where there is no valid will, an Estate is said to be intestate. In Kentucky, an Estate in this case will be distributed according to Intestacy Succession laws, or, if all parties agree, through Independent Property Administration. 

Community Property in Louisiana Inheritance Law

In Kentucky, property acquired during marriage is considered jointly-owned, i.e., communal. Typically, gifts, inheritances, etc are excepted from this rule, designating them as separate property.

Separate Property in Louisiana Inheritance Law

In Kentucky, separate property is essentially all property that isn’t community property. For unmarried persons, all property would be considered separate, unless designated otherwise.

Separate Property can be either real or personal. The former includes land and any structures on it; the latter is valuables, cars, etc; essentially, everything that is not real property.  

Spouses in Louisiana Inheritance Law

In Kentucky, a spouse will inherit the decedent’s entire Estate when there are no surviving children, parents, or siblings. Where any of these survive the decedent, the spouse will inherit the decedent’s share of community property; if there are surviving children, the spouse’s share of community property is merely usufruct (meaning that it can be used for life, but not destroyed), and will pass to the children on the surviving spouse’s death.

Louisiana Inheritance Law for Decedents with Children

In Louisiana, children are entitled to the decedent’s entire Estate when there is no surviving spouse. Where there is a surviving spouse, children will receive (1) all of the decedent’s separate property, and (2) the decedent’s share of community property, after it having been usufruct to the spouse (ie, upon the spouse’s death). 

In Louisiana, a child legally adopted by the decedent retains equitable eligibility as a biological child to a share of the Estate. Children given up for adoption by the decedent, likewise, retain rights to inheritance.

Children born in wedlock are assumed to be the decedent’s. Children born out of wedlock are entitled to a share of the decedent’s Estate, so long as paternity has been either (1) proven, or (2) acknowledged by the decedent.

In Louisiana, Step and Foster children will not automatically inherit a share of the decedent’s Estate, unless they were legally adopted by the decedent.

Grandchildren will not automatically receive an intestate share of the decedent’s Estate, but will be considered descendants if their parent (the decedent’s child) pre-deceased the decedent. 

Louisiana Inheritance Law: Forced Heirship

In Louisiana, forced heirship states that the child(ren) of a decedent must inherit their intestate share of the decedent’s Estate, even if they were left out of it testate. 

Inheritance Law for Unmarried Decedents Without Children in Louisiana

Where there are no next of kin to inherit your Estate, it will escheat to the State. 

Non-Probate Louisiana Inheritances

Assets, etc with a named beneficiary are not included in Probate, such as:

Annuities
Living Trusts
Traditional and Roth IRAs
401Ks
Payable-on-death (POD) accounts
Joint tenancy property
Life insurance policies

When the Estate itself is named as the beneficiary, it will become a part of the decedent’s intestate Estate. 

Other Scenarios in Louisiana Inheritance Law

Citizenship, Residency, etc do not affect a person’s right to receive an intestate (or testate) share of an Estate.

In Louisiana, half-blood kin receive half the share that their full-blood kin would.

Children conceived before, but born after, the decedent’s death, are considered eligible to receive an intestate share of an Estate.

Any relative convicted of a crime that caused, or attempted to cause, the decedent’s death, is not eligible to receive a share of said Estate.

Resources:
Louisiana Probate Court
Louisiana does not have a separate probate court. The “District Court” has jurisdiction over estate issues, mental health issues, adoption & other minor or juvenile issues. The state of Louisiana maintains a separate juvenile and family court.


Louisiana District Courts


Inheritance Taxes


The State of Louisiana has repealed all state inheritance taxes. Thus, there is no requirement to file a return with the State and no state inheritance taxes are owed. The Federal Estate Tax exemption is currently over $11 million per person. … Assets that are subject to the estate tax are taxed at 40%.
Click Here for a Louisiana Inheritance Advance or Probate Advance Representative

probate advance or inheritance loan

probate advance or inheritance loan

If you’re an heir of a Louisiana probate estate or trust beneficiary, you want to insure that you are in sync with your lawyer, and any new Louisiana probate laws. If you want to receive a zero-interest probate advance or inheritance loan, as it is often called, with low probate advance rates, and no credit or income requirements – be sure to choose your estate advance or inheritance funding company with great care.

A Probate Advance or Inheritance Loan, as it’s Often Called, in Louisiana

It just so happens that many Louisiana probate estate heirs and beneficiaries of trusts would rather get a probate advance or inheritance loan, as heirs call these cash advance assignments, from living parents, or a single surviving parent, than waiting 12, 15 or 18 months or more for probate to close to get a full inheritance. However, when inheritance advance funding from both parents or from a surviving parent is not possible as both parents have passed – heirs of Louisiana estates will frequently get a probate advance or inheritance loan, as they like to call the cash advance, usually a large advance on inheritance, from what people often call an “estate loan” or “probate loan” company. Heirs often refer to a probate advance or inheritance loan as “borrowing against inheritance”, which isn\’t technically correct as this is an interest-free assignment not a loan. A lot of heirs will choose to get probate advance or inheritance loan (so called) inheritance funding through an established inheritance funding company; usually a probate advance company with a widespread positive reputation – often one of the more seasoned inheritance funding companies that have been funding inheritance money to heirs for decades. Many heirs will pick a 48 or 72 hour probate advance or inheritance loan, as they like to call it… generally viewed by heirs as the most efficient inheritance funding option available to heirs – meaning an inexpensive probate advance as well – in other words, inheritance advance funding from a fast low profile online inheritance advance company with nice low probate advance rates, or as heirs often refer to it, “low inheritance loan fees”.
How Do You Receive an Inheritance Advance in Louisiana?
Even though the Louisiana probate process is slow… there are ways to access inheritance money faster than waiting a year or two for probate to end. Inheritance cash advance funding is typically a quick transaction, and simple – as long as the heir needing a fast probate advance or inheritance loan, as they call it, has signed with a reliable inheritance funding company, or inheritance lender, with a mature probate advance staff. My Inheritance Cash inheritance funding offers such a staff…generally gets heirs their inheritance money in days. Without up-front costs or hidden fees; without monthly payments or compounding interest; and without a credit report or credit score. So rather than waiting for 12 to 18 months to get access inheritance money, Louisiana heirs generally wait for their inheritance advance for only 2 or 3 days.
How Do You Get Approved For Inheritance Funding; What Heirs Often call a Probate Advance or Inheritance Loan?
To get approved for a probate advance or inheritance loan, as heirs call it, from inheritance lenders, heirs simply need a Photo I.D., documents proving you are a valid heir of a Louisiana estate or trust, proof of inheritance assets– real property, liquid assets, and personal property… plus the amount of money requested as an advance.
Which Louisiana Counties Enable Heirs to Get an Inheritance Advance?
Louisiana allows inheritance cash advances or, as many heirs refer to as “estate loans”, “inheritance loans” or “probate loans”… in every county in Louisiana – discounted estate cash advances, probate advances with regular pricing, 48 hour probate advances or 72 hour probate cash advances for heirs or beneficiaries.
How Can You Tell if You Will Qualify for a Probate Advance or Inheritance Loan, as Inheritance Funding is Often Called?
It is usually very simple figuring out if you qualify for inheritance advance funding, for a standard inheritance advance, probate advance or inheritance loan, as they call it in Louisiana, based either on probate property or liquid assets. Besides relevant documentation, you must be at least 18; be an heir to an estate in probate or trust, in the USA or Canada; with an inheritance of at least $15,000.
Is a Louisiana Inheritance Advance a “Cash Advance Assignment”, or is it “Borrowing Against Inheritance” as Many Heirs Refer to it?
No matter how much inheritance advance money you receive from an inheritance advance funding company, you are in fact getting an inheritance advance assignment, a cash advance based on your inheritance – not an “inheritance loan”, or “probate loan”. It is important to make note of this, in terms of the nuts and bolts associated with this process.
Inheritance cash advance assignments in Louisiana are not interest based, so they are not actually “loans”… therefore there is no possibility of “recourse for non-payment”. The point is, heirs receiving advance inheritance money from inheritance cash advance funding companies are not personally responsible for repayment. Clients of inheritance advance funding firms do not technically “borrow against inheritance”; and do not actually “get a loan on inheritance.”

Is there an Inheritance or Estate Tax in Louisiana?

Louisiana has neither an Estate nor Inheritance Tax. It is a community property state, meaning all property acquired during marriage is considered jointly owned by both spouses.

Executors will still need to file the following:

Federal/State Individual Tax Return, filed by tax day of the year after the person’s death
Federal Estate/Trust Tax Return, filed by tax day of the year after the person’s death
Federal Estate Tax, filed within 9 months of the person’s death, with 6-month extensions if requested before the end of this 9-month period

At the time of writing, this is for Estates that exceed a gross asset and prior taxable gift value of $11,180,000

Dying With a Will in Louisiana

In Louisiana, a will is said to be testate if it is signed by both the decedent and two witnesses (preferably not persons inheriting a portion of the estate). A notary must also be present.

An Executor should be named in the will, who can manage the Estate, i.e., distribute assets and settle debts.

In Louisiana, Estates valued over $75,000 typically enter Probate. If valued at less than $75,000, a Small Estate Affidavit can be filed to settle the Estate outside of court. 

Dying Without a Will in Louisiana

Where there is no valid will, an Estate is intestate. In Kentucky, an intestate Estate will be distributed according to Intestacy Succession laws. Alternatively, an Estate can be settled via Independent Property Administration, if all parties/heirs agree.

Community Property in Louisiana Inheritance Law

In Kentucky, property acquired during marriage is considered communal property. Gifts, inheritances, etc are typically excepted from this rule, and are known as separate property.

Separate Property in Louisiana Inheritance Law

In Kentucky, separate property is all property that isn’t community property. For unmarried persons, all assets/property would be considered separate, unless designated otherwise.

Separate Property can be either real or personal. Real Property includes land and any structures on it; Personal Property includes everything that is not Real Property.  

Spousal Inheritance Law in Louisiana

In Louisiana, a spouse is eligible to inherit the decedent’s entire Estate only when there are no surviving children, parents, or siblings. When any of these survive the decedent, the spouse will inherit only the decedent’s share of community property. If there are surviving children, the spouse’s share of community property is known as usufruct, meaning it can be used for life, but not destroyed, and will pass to the decedent’s children upon the surviving spouse’s death.

Louisiana Inheritance Law for Decedents with Children

In Louisiana, children are eligible to inherit the decedent’s entire Estate only when there is no surviving spouse. When there is a surviving spouse, the decedent’s children will receive (1) all of the decedent’s separate property, and (2) the decedent’s share of all community property, after the surviving spouse’s death.

In Louisiana, a child legally adopted by the decedent is eligible to inherit just as a biological child would be. Likewise, children given up for adoption by the decedent, even if legally adopted by another person/family, retain an intestate right to inheritance.

Children born in wedlock are assumed to be the decedent’s. Children born out of wedlock are entitled to a share of the decedent’s intestate Estate, given that paternity has been (1) proven, or (2) acknowledged by the decedent.

In Louisiana, Foster and Step children will not automatically inherit a share of the decedent’s Estate, unless they had been legally adopted by the decedent.

Grandchildren will not automatically receive an intestate share of the decedent’s Estate, unless their parent (the decedent’s child) pre-deceased the decedent. 

Louisiana Inheritance Law: Forced Heirship

In Louisiana, forced heirship means that the child(ren) of a decedent must inherit their intestate share of the decedent’s Estate, even if the child(ren) were left out of a will. 

Inheritance Law for Unmarried Decedents With No Children in Louisiana

Where there are no next of kin to inherit the decedent’s Estate, it will escheat to the State. 

Non-Probate Louisiana Inheritances

Assets, accounts, etc with a named beneficiary are not typically included in Probate, including:

Annuities
Living Trusts
Traditional and Roth IRAs
401Ks
Payable-on-death (POD) accounts
Joint tenancy property
Life insurance policies

When the Estate itself is named as a beneficiary, the asset, account, etc will become a part of the decedent’s intestate Estate. 

Other Scenarios in Louisiana Inheritance Law

Citizenship and Residency do not affect the right to receive an intestate (or testate) share of an Estate.

In Louisiana, half-blood kin receive half the share that a linearly full-blood kin would.

Children conceived before, but born after, the decedent’s death, are considered eligible to receive an intestate share of the decedent’s Estate.

Any relative convicted of a crime that either caused, or attempted to cause, the decedent’s death, is not eligible to receive a share of said Estate.

Resources:
Louisiana Probate Court
Louisiana does not have a separate probate court. The “District Court” has jurisdiction over estate issues, mental health issues, adoption & other minor or juvenile issues. The state of Louisiana maintains a separate juvenile and family court:


Louisiana District Courts


Inheritance Taxes


The State of Louisiana has repealed all state inheritance taxes. Thus, there is no requirement to file a return with the State and no state inheritance taxes are owed. The Federal Estate Tax exemption is currently over $11 million per person. … Assets that are subject to the estate tax are taxed at 40%.

Click Here for a Louisiana Inheritance Advance or Probate Advance Representative

Categorised in: State Inheritance and Probate Law