Louisiana Successions Lawyer
Louisiana Succession Attorney
After a loved one’s death, one of the last things a grieving person wants to consider is money, but this is an unfortunate reality for many. Once a family member dies, their estate must be closed out, usually through succession. This process can be complicated, especially if the estate is quite large or involves trusts and wills. . For assistance with the complex succession process, consider working with a Louisiana successions lawyer at Field Law.
Individualized Succession Guidance
The professionals at Field Law have helped many clients through successions involving a variety of estate sizes. We can help with inventorying and valuing assets, defending against or filing disputes, and submitting petitions to the court. Many successions qualify for flat fee pricing, so you might learn upfront how much your process may cost. Schedule a consultation to learn more about your succession options.
What Are Successions?
There are two types of successions: testate and intestate. If the individual had a valid will before they passed away, this is called a testate succession. If they did not, this is known as intestate succession. This distinction is important because it affects the succession process.
Testate Successions
- Initial Petition: First, an initial document must be filed to the court to begin probate. The original will must also be presented at this stage. The judge will review the will and sign an additional document, if they believe that the will is valid, to officially recognize it. The initial petition also includes details on where and when the individual lived and died, as well as information on heirs and spouses.
- Informing Parties: After this process, the personal representative in charge of succession will inform anyone relevant to the will that the individual has died. This includes creditors, heirs, and anyone else mentioned in the will. Therefore, they are given time to receive the assets that might be owed to them.
- Listing Assets and Debts: The representative must then make an inventory of all the assets and debts of the estate. In the event that certain assets do not have a set value, like collectibles, they are appraised at this time.
- Potential Disputes: At this time, anyone with issues surrounding the will can file a dispute. Not every dispute has to be resolved through the court. An attorney can help negotiate potential will disputes without a trial. They could also represent you in the instance that an agreement cannot be reached outside of court.
- Paying Creditors and Heirs: After an inventory is created and a petition for possession is filed and approved, assets can start to be paid out. Creditors are typically paid first, and the remaining part of the estate is then given to the beneficiaries based on the directions in the will.
- Closing the Estate: After all disputes are resolved, creditors are paid, and heirs receive their benefits, the personal representative can then close the estate.
Intestate Successions
If someone passed away without creating a will, their estate must have a representative appointed to administer the assets and close the estate. This is usually done by the court. The documentation for intestate succession is largely similar to testate succession, and it includes the initial petition as well as an affidavit.
The main difference between testate and intestate succession is that successions that occur without a will must be completed according to state law. This means that the state has mandated who will get which portion of your assets, and without a will, there is no way to alter this trajectory.
Each individual gets a certain amount of property depending on how many heirs there are. The portions are also different depending on whether an heir is a spouse, a child, a parent, or another family member.
Why Do I Need an Attorney In Louisiana?
An attorney is an essential part of the succession process for all types of estates, big or small. Many successions involve complicating factors that could make it more difficult to close the estate, including:
- Intestate Succession: If an individual dies before creating a will, their property must be split up according to state law. This usually does not account for blended families and other unique family situations. Intestate succession can lead to complications for nontraditional families or estates with assets that are difficult to split up for multiple heirs.
- High-Value Estates: Estates with high values might lead individuals with misguided intentions to take over. By designating a trusted individual to manage the estate before death, the succession process becomes smoother. Additionally, high-value estates tend to have assets that make the estate more complicated, like real estate property.
- Creditors: An estate with lots of debts might have several creditors contact the representative to have their debts repaid. This process can be made easier with a succession attorney who is familiar with working with creditors. Having an experienced professional working on your case can help you negotiate with creditors to close the estate efficiently.
- Missed Deadlines: Louisiana has strict timelines and filing requirements for individuals going through succession. If a deadline is missed, it can significantly impact the succession process. An attorney can help prevent future late filings and can help remediate any consequences as a result of a missed deadline in the past.
- Disagreements: If loved ones or heirs do not agree on their share of the estate, an attorney can help negotiate with them to determine a compromise. In many cases, a solution is found before going to court, but sometimes, a trial is necessary. If you have to work out a dispute in court, an attorney can effectively represent you and the estate’s interests.
- Contests: In some cases, certain individuals may claim that the testator made the will when they were not mentally competent enough to do so. They could also argue that another individual pressured or forced them to create the will without considering their interests. If the will is contested, it might affect the outcome of succession.
- Law Violations: Louisiana estate planning law can be tricky. It is possible that a will created in another state for an individual who moved to Louisiana might not hold up in court. In this instance, working with an attorney is important to understand the consequences of a will not meeting state law.
Successions often do not go as planned. In order to avoid costly fees and wasted time as a result of succession, working with an attorney is essential.
Some people worry about the potential cost of an attorney when considering one for their succession case. If there are issues or complications with the process, hiring an attorney can often save you money in the long run. They can prevent costly litigation and speed up the process, resulting in you saving both time and money.
FAQs
Q: Do You Need an Attorney for a Succession in Louisiana?
A: You technically don’t need an attorney for a succession in Louisiana, but it’s highly recommended. Louisiana’s rules on succession differ significantly from other states. The term “succession” is unique to Louisiana and comes with its own set of rules and regulations.
This means that information about succession might not be as publicly available and is subject to more errors than probate in other states. To make sure your succession is done correctly and efficiently, it is helpful to work with an estate planning attorney.
Q: How Do You Do a Simple Succession in Louisiana?
A: In order to qualify for a simple succession, your estate must qualify under Louisiana’s definition of a small succession. If the estate qualifies, it allows the owner’s loved ones to skip succession. In order to file a small succession, the heirs to the estate file a Small Succession Affidavit with the court. In some cases, there might be a waiting period before they are allowed to file.
Q: What Is the Difference Between Probate and Succession in Louisiana?
A: Succession is another term for the probate process in Louisiana. Louisiana uses a blend of laws, some of which include common laws from the US government and others from civil law, which is commonly used in European countries. This means that the state’s laws surrounding estate planning and succession are different from those in other states. Therefore, understanding Louisiana’s laws can be more difficult as a layperson.
Q: What Documents Are Needed for Succession in Louisiana?
A: In order to file for succession in Louisiana, several different documents are required. The first is a petition for possession, which details basic information like who the decedent was and where they died. To prove this document, an Affidavit of Death, Domicile, and Heirship should be filed along with this petition. To learn more about what type of documents are needed for a succession case, speak with a succession attorney.
Learn How to Simplify Succession
Successions can be challenging, even if the decedent left a will. Even estates that seem simple on the surface could be complicated, given the right circumstances. This is why it is so important to contact a succession attorney who understands Louisiana estate planning law. Representation and assistance from Field Law can help expedite the succession process and close the estate without headaches. For more information, schedule a consultation today.
