Louisiana Will vs. Living Trust: Succession, Divorce & Your Home | RE: Real Estate Podcast
EPISODE 103
Louisiana Will vs. Living Trust: Succession, Divorce & Your Home | RE: Real Estate Podcast
Content Type
Interview
Primary Goal
Know what happens to a Louisiana home without a will, and decide whether a will or living trust fits your family.
Keywords
Louisiana will vs living trust, Louisiana succession, forced heirship Louisiana, homestead exemption trust, Louisiana power of attorney real estate, selling a house during divorce Louisiana, community property Louisiana, Houma Thibodaux real estate, estate planning attorney Houma, Woody Falgoust
Summary
In Episode 103, estate planning attorney and title insurance producer Woody Falgoust joins Ben and Clint to explain what happens to a Louisiana house when the owner dies without a will, why majority doesn't rule among heirs, and how wills and living trusts compare. They also cover divorce and real estate, including selling or buying before community property is settled, and the power of attorney mistakes that delay closings.
Key Topics
• What happens to a house when someone dies without a will
• Forced heirship and heirs who can't agree to sell
• Will vs. living trust, homestead exemption and Medicaid planning
• Life events that mean it's time to update your plan
• Divorce: your ex in your will, and selling or buying mid-divorce
• Louisiana power of attorney rules for closings
Title Options
• What Happens to a Louisiana House With No Will? Ask a Houma Attorney | RE: Real Estate Podcast
• Do You Need a Will in Louisiana? What Happens to Your House Without One | RE: Real Estate Podcast
Sound Bites
“Majority does not rule when it comes to co-owners or heirs.”
“You don't get to stay co-owners forever. That's not an option.”
“At a minimum, revisit your needs every five years.”
“The notary cannot be a witness, and the seller cannot be a witness.”
Chapters
00:00 Cold open: do you need a will?
00:24 Meet Woody Falgoust
01:41 House with no will: how succession works
03:02 Forced heirship explained
04:05 Unopened successions at closing
05:15 Why majority doesn't rule among heirs
06:50 Will vs. living trust
09:07 Trusts and the homestead exemption
10:54 Revocable vs. irrevocable, Medicaid
13:27 When to update your will or trust
16:25 Divorce: your ex and your will
17:59 Selling a house mid-divorce
20:24 Buying mid-divorce: end the community
22:04 Power of attorney for closings
24:02 Homework and wrap-up
Resources
Woody Falgoust – Title · Law · Estates: woodyfalgoust.com
La. C.C. art. 1493 (forced heirship): law.justia.com
La. C.C. art. 1608 (divorce and bequests): law.justia.com
La. C.C. art. 1833 (authentic act): law.justia.com
Show Links
Website: rerealestatepodcast.com
YouTube: youtube.com/@REREALESTATEPODCAST
Facebook: facebook.com/rerealestatepodcast
Instagram: instagram.com/rerealestatepodcast
TikTok: tiktok.com/@rerealestatepodcast
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Guest
Woody Falgoust
Attorney at Law | Licensed Title Insurance Producer
Woody Falgoust – Title · Law · Estates
Thibodaux | Houma | Plattenville
985.447.6665 | wfalgoust@woodyfalgoust.com | woodyfalgoust.com
Hosts
Ben Harang
REALTOR® | Keller Williams Realty Bayou Partners
La. License #: 36589
Mobile: 985.859.2500 | Office: 985.262.4400
ben@benharang.com | benharang.com
Clint C. Galliano
REALTOR® | Keller Williams Realty Bayou Partners
La. License #: 995704723
Mobile: 985.647.4479 | SMS Hotline: (985) 200-5447
Office: 985.262.4400
clint.galliano@kw.com | SoLahomegroup.com
Creators and Guests
Host
Ben Harang
Ben Harang brings over 30 years of experience as a licensed agent and currently works with Keller Williams Realty Bayou Partners. Ben’s experience includes single family residential sales, large land sales, subdivision development, building new construction residential and commercial projects and selling REO/Foreclosed properties.
Host
Clint C. Galliano
Clint Galliano, who’s been an agent since 2020 & an investor since 2008, also with Keller Williams Realty Bayou Partners. Clint’s experience includes residential sales, residential rentals, property management, and various avenues of investing.
