In Louisiana, family property is more than just land—it’s legacy. Whether it’s a camp, a sugarcane farm, or a home passed down for generations, many families want to ensure these assets are preserved and kept in the family line.
But without clear planning, that legacy can unravel.
The Problem with Co-Ownership
When parents leave property equally to multiple children, disagreements often follow. One wants to sell. Another wants to keep it. A third may not have the means to buy the others out.
This often leads to:
- Court-ordered sales
- Property being divided or lost
- Broken family relationships
Create a Clear Plan With Intentional Structure
Options include:
- Placing the property in a trust, so one child can use it and others are fairly compensated
- Creating a family LLC to manage maintenance and decision-making
- Appointing a trustee or manager to oversee operations and resolve disputes
Address Costs and Usage Rules
Who pays for repairs? Who’s allowed to stay there, and when? A good plan answers these questions before they cause friction.
Include a Plan for Future Generations
The more generations involved, the more potential for conflict. Structuring use, buyout rights, or rules of transfer can preserve harmony and keep the asset from becoming a burden.
Protect It from Creditors or Divorce
Trusts and LLCs can also help shield family property from outside claims if an heir is sued or gets divorced.
We Help Families Preserve What Matters
If your goal is to keep family property in the family—intact and appreciated—we can help you build a plan to do just that.
