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Louisiana _______________________ ___________________________________________ NOTARY PUBLIC 9 this _________________ day of ____________________ , 200___. ____________________________ Witness _____________________ ____________________________ Testator _____________________________ Witness his instrument is his Last Will and Testament and has signed it at the end and on each other separate page, and in the presence of the Testator and each other, we have hereunto subscribed our names onary Public and the witnesses hereafter named and undersigned, at the date and place first above written. ______________________ TESTATOR In our presence the Testator has declared or signified that t___________, as attorney for my estate, but this request is precatory only. IN WITNESS WHEREOF, I have signed on each page and declared this to be my Last Will and Testament in the presence of the NotI hereby appoint ____________________ as guardian of my minor Children. VIII. Appointment of Attorney for Estate I specifically request that my executor and trustees engage the services of___________dent executor permitted by the law of Louisiana at the time of my death. VII. Appointment of Guardians 8 If any of my Children are minors on the date of my death and I am not survived by my Spouse, marital deduction. VI. Independent Administration I hereby provide that my Succession Representative shall serve as an Independent Executor with all of the rights, powers and authority of an indepennormally exercise it, and in the case of reasonable doubt as to the extent to which the election should be exercised, my Executor should normally exercise it to obtain a larger, rather than a smaller, to secure the marital deduction to my gross estate for federal estate tax purposes, and if so, to what extent. In case of reasonable doubt whether or not to exercise the election, my Executor should ic assets to satisfy a legacy expressed in terms of a value or a quantum, including a fractional share. 5.3 My Executor shall incur no liability for determining whether or not to exercise the election of my estate with full seisin and without bond. 5.2 In accordance with the provisions of Article 1572 of the Louisiana Civil Code, I expressly delegate to my Executor the authority to allocate specif with full seisin and without bond. If for any reason she is unwilling or unable to serve or to continue to serve as such, then as her successor I name and appoint ________________________ as Executorts and neither my forced heir nor his descendants survive me by the six(6) month period. V. Appointment and Duties of Executor 5.1 I name and appoint ________________________ as Executor of my estatee who is determined to be my forced heir at the date of my death, then this survivorship condition shall apply only if my forced heir dies without descendants, or if my forced heir dies with descendanlly provide that if any legatee provided for herein does not survive me by six (6) months, then any such legatee shall be considered as having predeceased me. However, as to the legitime of any legateed to my Spouse in full ownership. 4.3 Except with regard to the usufruct of my Spouse, if such usufruct is elected under Article III, pursuant to Article 1521 of the Louisiana Civil Code, I specificated under Article III. 4.2 If none of my Children survive me, and leave no children who survive me, but my Spouse does survive me, then I leave the balance of all of my property of which I die possess then I leave the share of such predeceased child or that part that is renounced to such child's child or children, equally, but subject to the usufruct in favor of my Spouse if such usufruct was elections. 7 IV. Survivorship Provisions 4.1 If any of my Children predecease me, or renounce all or any part of the property bequeathed to him or her herein, leaving a child or children who survive me,ny other child or children are born to or adopted by me subsequent to the execution of this Will, the legacy contained herein to my children shall be to all of my children who survive me, in equal porildren who survive me, in equal portions. ___ Option 3: Full Ownership to Children I leave full ownership of the balance of all property of which I die possessed to my Children in equal portions. If ay Children, in equal portions. If any other child or children are born to or adopted by me subsequent to the execution of this Will, the legacy contained herein to my children shall be to all of my chnce of all property of which I die possessed to my Spouse in full ownership. If my Spouse predeceases me, then I leave full ownership of the balance of all of my property of which I die possessed to mho survive me, in equal portions. If my spouse predeceases me, I leave the balance of all the property of which I die possessed to my Children. ____ Option 2: Full Ownership to Spouse I leave the balaen, in equal portions. If any other child or children are born to or adopted by me subsequent to the execution of this Will, the legacy contained herein to my children shall be to all of my children wposition and the reinvestment thereof. Subject to the usufruct of my Spouse as hereinabove set forth, I leave full ownership of the balance of all of the property of which I die possessed to my Childrincluding nonconsumables, should be sold or otherwise disposed of during the existence of the usufruct, then the usufruct shall not terminate but shall attach to the proceeds of such sale or other disority to dispose of nonconsumables, as that term is defined in the Louisiana Civil Code or other applicable Louisiana law. I further specifically provide that if any property subject to the usufruct, nse with any requirement that he or she post bond or security as such in regard to the usufruct. I further specifically provide that the usufructuary shall have full and complete right, power and auth Option 1: Usufruct to Spouse I leave the usufruct of the balance of all of the property of which I die possessed to my Spouse which usufruct shall last for so long as he or she may live, and I dispe provide that any gifts that I have made during my lifetime to any of my Children or grandchildren shall be extra portions and shall be exempt from collation. III. Residue (Choose Only One Option) ___s, in full ownership, to the following persons or organizations, provided such items are in my possession at my death. Full Name Address Relationship Property to be Received 6 II. Collation I hereby__________________________________________________________ and any children born or adopted by me after the execution of this will. I. Special Legacies As special legacies, I leave the following itemply: "Spouse" shall mean ______________________. "Children" shall mean ____________________________________________ _____________________________________________________________________ ______________________________, (the "Testator") do hereby make this my Last Will and Testament, revoking all prior Wills and Codicils. For purposes of interpreting this document, the following definitions shall apa trusted family friend or attorney. 5 _______________, Louisiana Parish of ______________ This ____ day of ___________________, 20__ Last Will and Testament of ___________________________ I, ______hildren not chosen. You may also want to avoid naming one or more children together, as this can create a lot of conflict and slow the process down while disputes are decided. Instead, consider using of a "pain in the neck" than anything else, especially if there are any difficulties or disputes. Be careful about naming one of your children as Executor, as this can cause hurt feelings among your cob realistically. Yes, it is an honor to be considered worthy of this trust. But there is time and work involved. Even though entitled to compensation, most Executors would agree the position is more ter you die. In Louisiana, the Executor is entitled to a fee of 2.5% of the estate. However, many executors who are family members will waive the fee. All family members should regard the Executor's j woman) should be a trustworthy person (or bank, or other financial institution) with common sense, good judgment and the fairness of a referee. The Executor is responsible for managing your estate afwill. Another reason to revisit your will would be if your assets grow to over $1,000,000, triggering the need to plan for estate taxes. 8. How do I choose an Executor? Your Executor (Executrix, if ae every year to make sure that no changes are needed. For example, if your family status changes through marriage, divorce, or the birth or adoption of children, you will probably want to revise your conflict with other provisions of the Will, we recommend you start from scratch and do another Will. (Remember to destroy the old one to avoid any confusion.) You should review your will at least oncspecifically to the original Will, and executed in the presence of a notary and two witnesses. If the desired changes are at all complicated, subject to more than one interpretation, or potentially iny mistakes. 7. What if I Need to Change My Will? You should never make changes to a will on the original document. Instead, a "Codicil", or amendment should be prepared on a separate page, referring prepare your will for $250.00. At the very least, you should have an attorney review your 4 completed will before you execute it. It shouldn't cost too much to do that and could help you avoid costled by an attorney? It usually depends on the complexity of your estate. If you have a simple estate plan with no estate tax issues and no trust provisions, you can probably find an attorney who will you are married, but have no children, a will can avoid shifting of assets solely to the survivor's side of the family after the survivor's subsequent death. 6. What will it cost to have a will preparme savings, and life insurance, a will can be very important for planning services. You can use your will to give your spouse complete control of the family home and other assets after your death. If clude: life insurance policies, certain types of trusts, and retirement benefits. 5. I have a very small estate. Do I still need a will? Yes. Even if your estate only consists of your family home, soWill Does Not Do: A will does not govern the transfer of certain types of assets, called non-probate property, which by operation of law or contract pass to someone else on your death. These assets in share of your estate. It is possible to disinherit a forced heir under certain specific circumstances. If you are attempting to disinherit one your children you should consult an attorney. 4. What a ent benefits are generally not counted in determining the amount of the forced portion. In addition, if you die rich in comparison to your spouse, your spouse may be entitled to claim a marital forcedheir, the forced portion is 1/4 of your estate, and if there are two or more forced heirs, the forced portion is 1/2 of your estate (divided equally among the forced heirs). Life insurance and retiremf you have any "forced heirs", they can demand a portion of your estate. A forced heir is any child under the age of 24 or a permanently disabled child, regardless of age. If there is only one forced provisions that are beyond the scope of what is available in this sample form. If you have 3. What about Louisiana's forced heirship laws? Do they limit what I can do in a will? Under Louisiana law, ierve your estate for your heirs by proper tax planning. o Choose your executor, the person who will be responsible for managing your estate. Some of these strategies will require your will to contain ch minor child's estate o You may choose to acknowledge or otherwise provide for a child (e.g., stepchild, godchild, etc.) in whom you have an interest, an elderly parent, or other individuals. o Cons or children if you have survived the other parent-and, by judicious use of a trust and appointment of a trustee, 3 eliminate the need for bonds and supervision by the court regarding the care of eaotection or experienced management of funds. o Provide for disposition of the family business. o Make bequests to schools or other charitable organizations. o Designate a guardian for your minor childto your spouse or children. o Protect your spouse with a usufruct for life over both separate and community property. o Establish trusts for children, grandchildren, or other beneficiaries who need prn allow you to: o Give some or all of your estate to your spouse, grandchildren, other family members or friends. o Make special bequests of the family home, jewelry, collections or personal property elatives. 2. What are the benefits of having a will? Wills can be of various degrees of complexity and can be utilized to achieve a wide range of family and tax objectives. A properly drafted will ca equally among your children. o Unmarried, no children: If you have no spouse or descendants, your estate will be divided equally by brothers and sisters, if any, surviving parents, or other nearest re terms of your spouse's will, or solely to your spouse's side of the family if your spouse has no will. o Unmarried with children: If you have no spouse but have children, your estate will be dividedd to your brothers and sisters (or their descendants), with a usufruct in favor of your surviving parents, if any. At your spouse's death, any remaining community property will be distributed under thspouse remarries. o If you are married with no children: If you have a spouse and no children (or grandchildren), your spouse inherits your community property, and your separate property is distributeouse has the right to possess, use and receive income from the community property inherited by your children (this is called a "usufruct"). However, this usufruct will automatically terminate if your n will inherit your one-half interest in all community property acquired during your marriage and all of your separate property (property acquired prior to the marriage or inherited property). Your spbe distributed as follows: o If you are married with children: Many people assume that their spouse will get everything if they die. The reality is that if you have a spouse and children, your childre such as a safe deposit box at your bank. 9. 2 Frequently Asked Questions About Louisiana Wills: 1. What happens if I don't have a will? If you die without a will in Louisiana, your property will ll of the pages of your will in the presence of a notary and two witnesses. Your witnesses should not include any person who is getting a bequest under the will. Keep your signed will in a safe place,optional provision, you can appoint an attorney for your estate. Your heirs are not bound by your choice, but you can make your wishes known if you would like. 5. 6. 7. 8. You must sign and date a Choose someone you trust and who is capable of handling this big responsibility. Article VII ­ If your children are minors at the time of your death, you can appoint a guardian. Article VIII ­ As an spouse. Article V- Select an Executor and successor executor in case your first choice is unable to serve. Your executor will be responsible for handling your estate during administration and probate. and then to your children upon her death. Option 2 gives your estate outright to your spouse, with nothing for the children. Option 3 gives your estate outright to your children with nothing to your ill that disposes of all of your property that is left after the specific legacies in Article II. Choose only one option. Option 1 gives your spouse the right to use your property during her lifetime, no question that it is part of the original document. If you are not making any special legacies, just write the word "none" in the space provided. Article III ­ Residue. This is the section of the w of cash to persons or institutions. If you need more room, increase the size of the table. If you add a separate sheet of paper, make sure the sheet is numbered, signed and dated so that there can behe names of your children. If you have no children, write in the words "not applicable". Article II - Fill in your special legacies, if any. These are specific bequests of items of property or amountsn attorney for assistance in modifying this form to suit your specific needs. 1. 2. 3. 4. Fill in your name. Fill in your spouse's name. You and your spouse should each have a separate will. Fill in turviving spouse and/or children. As such, it may not fit your situation perfectly. If you have a net worth of over $1 million dollars or if you have children from a prior marriage you should consult aanges, or that the language in the form doesn't quite match your intentions, you should consult an attorney for advice. It was designed for the typical couple who wishes to leave their estate to the sorms.com 1 Instructions for Preparing Your Last Will and Testament Note: The following are detailed instructions for preparing and executing your will. If you find that you need to make extensive chon. You should also consult an attorney whenever a document is negotiated with another party. [_] The purchase and use of these forms is subject to the Disclaimers and Terms of Use found at findlegalfstarting point for you and should not be used without consulting with an attorney first. Before signing this document you should have an attorney review it to make sure it fits your particular situatiInformation Your Last Will and Testament [_] These forms are not intended and are not a substitute for legal advice. Laws vary from time to time and from state to state. These forms should only be a Louisiana