Successions, Wills, and Trusts 1 Flashcards

Under Louisiana law, what is the 'legitime' as it relates to forced heirs?

Answer: The minimum portion of the estate that must be left to forced heirs and cannot be taken away by testament

The legitime is the portion of a deceased's estate that forced heirs are entitled to by law and that a testator cannot deprive them of through a testament. It represents a restriction on testamentary freedom to protect certain descendants.

Which of the following is a requirement for a valid olographic testament in Louisiana?

Answer: It must be entirely written, dated, and signed by the testator's own hand

A valid olographic testament in Louisiana must be entirely handwritten, dated, and signed by the testator. No witnesses or notarization are required, but the entire document — including the date — must be in the testator's own handwriting.

Under Louisiana law, what is a 'universal legacy'?

Answer: A legacy that grants the legatee all or the remainder of the estate

A universal legacy is a testamentary disposition by which the testator gives to one or more persons all or the remainder of his estate after payment of particular legacies. It is the broadest form of legacy under Louisiana law.

Under the Louisiana Trust Code, which of the following is required to create a valid inter vivos trust?

Answer: The trust instrument must be executed before a notary and two witnesses

Under the Louisiana Trust Code, a valid inter vivos trust must be created by a written instrument executed before a notary public and two witnesses. This formal requirement distinguishes Louisiana trust law from common-law states where trusts can often be created informally.

Under Louisiana law, at what minimum age does a person have the legal capacity to execute a valid testament?

Answer: 18 years of age

Under Louisiana law, a person must be at least 18 years of age and of sound mind to have the capacity to make a testament. Persons under 18 or those who have been interdicted (fully) generally lack testamentary capacity.

In Louisiana succession law, what is the effect when a legatee predeceases the testator and no substitute legatee has been named?

Answer: The legacy lapses and falls into the residue of the estate or passes by intestacy if no residual legatee exists

When a legatee predeceases the testator and no substitute has been named, the legacy lapses. A lapsed legacy falls into the residue of the estate if there is a residual legatee; otherwise it passes according to the rules of intestate succession. Only the failed legacy — not the entire testament — is affected.