Laws Governing Estate Inheritance for Children in Louisiana
The Louisiana Statute Chapter 6, Section 763: Minors
- The Louisiana Statute Chapter 6, Section 763 empowers minors with the rights to "hold, own, transfer, withdraw, and surrender shares and savings accounts ... and shall be considered in such matters as if they were the full age of majority." This precept allows minors full charge of their own affairs or under the guidance of a legal friend, tutor or parents. The only restriction placed on the rights of minors is to borrow and pledge property.
Louisiana Statute Chapter 9, Section 133: Inheritance Rights
- Inheritance rights, defined in Chapter 9, Section 133 of the Louisiana statutes, are conceived as inherent rights in a live, born child. This legislation explains that a beneficiary cannot legally bestow rights to a fetus, unless it is born and attains the status of a legal "person." Specifically addressing heirship, the law asserts that in the case of in vitro fertilization, the born child legally belongs to the adoptive parents and does not have the power to inherit the estate of the surrogate parent.
Louisiana Constitution, Article 12, Section 5: Successions and Forced Heirship
- The Louisiana Constitution Article 12, Section 5, titled "Successions, Forced Heirship, and Trusts," gives legal room for minors to succeed and inherit estates transferred to them through their benefactor's decease, whether or not a will and testament exists. In probate law, Louisiana recognizes the concept of forced heirs who are under 23 years of age or who have a serious mental or physical disability preventing them from being competent to ably manage the affairs of the inherited estate. As a result, the estate's value has to be reserved in a trust fund for that person.
Louisiana Civil Code 1341, Article 1341: Terms of Sale of Succession Effects
- Louisiana Civil Code 1341, Article 1341, "Terms of Sale of Succession Effects" of minors law calls the child heirs of estates to remain under the obligation to pay all outstanding debt of the estate willed to them. Whenever a case like this arises, the parents, tutors or curators of the estates have to decide on behalf of the heir on the sale of certain portions of the estate which have to flow to creditors.