Detailed Answer
Under Louisiana law, any person acting as an executor, administrator, or curator must file a complete inventory of the decedent’s assets—including all personal (movable) property—before the court sets a year’s allowance. That inventory is the foundation for calculating the allowance, which is drawn exclusively from movable assets.
1. What is a year’s allowance?
La. C.C.P. art. 3701 grants the surviving spouse and minor children a year’s allowance for their support and household expenses. The court fixes the amount based on the family’s accustomed standard of living.
2. How do I list personal property?
Under La. C.C.P. art. 3421, the executor must file an inventory within 60 days of appointment. The inventory must itemize:
- Household furnishings, electronics, appliances
- Vehicles, boats, trailers
- Jewelry, art, collectibles
- Bank accounts, investment accounts, certificates of deposit
- Stocks, bonds, and other negotiable instruments
All of these assets are “movable” under Louisiana Civil Code and serve as the pool from which the year’s allowance is paid (La. C.C.P. art. 3701).
3. Do I need a separate list for the allowance?
No. You do not prepare a separate “year’s allowance list.” You prepare the full estate inventory first. The court uses that inventory to identify and value movables before awarding the allowance. Omitting any personal property risks understating the estate’s value and may deprive the surviving family of their full statutory allowance.
4. What happens if movables run out?
If the movable property falls short of the allowance, the court may seize and sell immovable assets only after exhausting movables (La. C.C.P. art. 3702).
Disclaimer: This article provides general information and does not constitute legal advice. Consult a qualified attorney about your specific situation.
Helpful Hints
- Start your inventory early: gather bank statements, titles, and appraisals.
- Use a spreadsheet or inventory software to track assets and values.
- Obtain professional appraisals for high-value items (art, jewelry, real estate).
- File your inventory by the 60-day deadline to avoid delays or penalties.
- Keep copies of all filings and receipts in a centralized folder.
- Discuss complex assets (business interests, intellectual property) with a probate attorney.