Louisiana Inheritance Loans and Probate Advance Law

Dec 17 2018

If you are bequeathed an inheritance, one of your first questions might be how soon you can get it. The answer is, it depends on how the estate was set up and whether or not it will have to go through probate. If it does go through probate, even if everything goes smoothly, it could be months before your inheritance is available to you, and if the will is contested or there are other issues, it could be years.

The fact is, estate planning is one of the only ways an estate can bypass the probate process in Louisiana. But that doesn’t mean you have to wait to get your inheritance funds. In fact, some heirs will qualify to receive their inheritance in as little as two days.

What Are Louisiana Probate Laws?

Louisiana probate laws are in place to ensure the wishes of the deceased are honored in a lawful manner. Probate laws also protect beneficiaries and even third-parties that have an interest in the estate. A will is simply a written directive that explains how an estate is to be divided and distributed. The probate process makes sure the directive is obeyed.

Whether you are the executor of a will or you want to plan your estate to bypass the probate process, an attorney that focuses on wills and estates and probate will be able to assist you. An attorney will know the intricacies about the law, including what forms are needed, when they need to be submitted, and what signatures must be obtained for probate.

What is The Probate Process in Louisiana?

The probate process in Louisiana is designed to protect the wishes of the deceased and the rights of those who have an interest in the estate. The fundamental process in Louisiana is much the same as the probate process in other states. An executor of an estate must be appointed. Typically, the person that performs this role is named in the will. If one is not named, or if there is no will, someone will be named to serve as administrator. The executor has to complete many tasks to fulfill their role and all within a certain amount of time.

The will must be legally validated, and all assets will need to be inventoried and their value appraised for the court. Once the value of the estate is known, a notice is publicly posted, and those who are owed debt can file a claim on the estate. All taxes and debts are paid from the estate and what remains of the estate is then divided and distributed amongst the heirs. If the deceased did not have a will, the court would divide the estate according to Louisiana law.

What Property Will Go Through Probate in Louisiana?

What property will have to go through probate in Louisiana depends greatly on estate planning. However, there are several types of assets that can be transferred to another upon death. IRA accounts, 401(k), annuities and life insurance policies can all pass directly to a beneficiary without having to go through probate first if they are set up that way.

 

 

Your home, vehicle, vacation home, and other real property can also transfer upon death to the beneficiaries of your choice. Your estate attorney can help make sure that your assets go to your heirs without having to be probated first. In cases where there is no will, living trust, or survivorship established, the estate will most likely have to go through probate.

How Can You Avoid Probate in Louisiana?

You can avoid probate in Louisiana by working with an attorney to plan your estate. Your heirs will appreciate being able to bypass the time-consuming and sometimes very costly probate process. Also, there are costs and fees associated with probate that might fall to your heirs if the estate is unable to cover them. Should the will be contested, it could be years before probate is resolved.

One of the ways you can avoid probate in Louisiana is to establish a living trust. With a living trust, your assets can go automatically to whom you want to have them when you die. A living trust allows you legally assign your assets to someone else, and when you are no longer able to manage the trust, or when you die, those assets do not go through probate, they go directly to whom you chose.

How Can You Access Louisiana Inheritance Funds Immediately?

You can access Louisiana inheritance funds immediately with an advance from Probate Advance. You don’t have to wait for months or years to get your inheritance; you may be eligible to get it in about two days. With Probate Advance, getting your inheritance is as easy as answering a few questions.

There is no credit check, loan application, interest charges, or repayment plan because this is not a loan. The fact is, your benefactor wanted you to have an inheritance, and you shouldn’t have to wait to receive it. Probate Advance gives heirs and beneficiaries the option of getting their inheritance funds now, and all you have to do is fill out a form to see if you qualify.

Do You Qualify for a Louisiana Inheritance Cash Advance?

If you want to know if you qualify for a Louisiana inheritance cash advance, simply fill out the form or contact us. We just need some basic information to determine if you are eligible for a cash advance. Generally, if you expect $12,000 or more from an inheritance, you might already qualify for an inheritance cash advance, and your funds may be available to you in just a few days.

What Do You Need for a Probate Advance in Louisiana?

What you need for a probate advance in Louisiana is simply basic information. We need this information to confirm you have been bequeathed an inheritance and to know where to send your advance. You shouldn’t have to wait for your inheritance, and with Probate Advance, you don’t have to. Just fill out the form, tell us where you want your money sent, and in about two days the money can be in your account.

What Areas of Louisiana Qualify for an Inheritance Loan?

We offer inheritance loans in all cities in Louisiana, including but not limited to:

  • New Orleans
  • Baton Rouge
  • Shreveport
  • Lafayette
  • Lake Charles

To learn more about Louisiana probate laws and the rules on inheritances, check out our resources.

Louisiana Probate Resources

Louisiana Inheritance Tax Laws