Legal Question in Wills and Trusts in Louisiana

Succession in Louisiana
My mom passsed away in 1981, I have 1 sister, my dad didn't do a succession, but he gave me all if his rights to their house, we went to an attorney and it was done legally. The home was paid for. I am trying to borrow money against it until it is sold, but the title search showed no sucession was done for my mom. All we have is the house, can you tell me what is involved and what type of taxes will have to be paid etc., to do the succession and how long it should take before I can borrow on it? I am trying to purchase another home, and this is holding me up all around. Thanks

Asked on 7/07/08, 2:00 pm

Andrew Casanave Andrew M. Casanave

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Re: Succession in Louisiana

If the only asset is the home the succession should be very simple, and inexpensive with an attorney.

Unless the home was worth over about $100,000.00 in 1981 there should be no taxes due.

Answered on 7/07/08, 2:31 pm

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