Disclaimers and Louisiana Law

Matthew D. Simone (Casenote/Comment Editor, Loyola Law Review) has recently published his comment entitled Louisiana Post-Mortem Estate Planning — Alleviating the Burden of Double Taxation Imposed Against a ‘Renunciation in Favor of,’ 54 Loy. L. Rev. 905 (2008).

Here is an excerpt from the introduction to his article:

This Comment explains how and why a Louisiana resident may alleviate the burden imposed by double taxation when renouncing in favor of less than all coheirs. Section II reviews the relevant Louisiana substantive law, comparing it to international civilian jurisdictions, and pertinent federal and Louisiana tax codes. Section III argues that the current interpretation of Louisiana law – which considers a renunciation in favor of less than all coheirs as a complete acceptance and donation – is incorrect by discussing the changes in Louisiana law, which have altered Article 960, and the logic behind the substantive Louisiana law. This section also provides the proper interpretation of Article 960 and illustrates the value of such an interpretation with respect to taxation. Section IV concludes with observations of how the previously discussed substantive changes can affect other areas of the Louisiana Civil Code.