Probate is a legal process where the court oversees the administration of an estate. This process usually involves validating an individual’s Last Will and Testament, distributing assets to the proper beneficiaries, and satisfying debts. If there is no Will, probate is the general administration of the decedent’s estate according to the state’s laws. In Louisiana, the legal term for probate is referred to as succession.
Unfortunately, while the process is very important, many people do not actually know what the process entails and often have various questions about it. That is why below we provide answers to three of the most commonly asked questions regarding the probate/ succession process in Louisiana.
1. When Is Succession Necessary in Louisiana?
According to the laws in Louisiana, if a person dies with or without a Will and their estate has a value greater than $125,000, the surviving children and spouse much go through probate. This process will ensure that the appropriate heirs receive their shares of the estate as indicated by the decedent. However, it is important to note that the estate value is different from the deceased’s assets. That is why it is critical to understand what property is included in the estate of your loved one.
2. Who Is Responsible for Succession?
If the decedent did not leave a Will, a spouse, heir, or even a creditor can apply and become an Administrator. The Administrator will have to take a specific oath and post a bond to proceed with the process. If the decedent had a Will, the person named in the document will be appointed the Executor and can waive the bond. While the positions are different, typically, both will be responsible for preparing a list of the decedent’s assets, selling them to pay debts of the estate, and issuing the remainder to the appropriate parties.
3. How Can an Experienced Estate Lawyer Help with the Succession Process in Louisiana?
Dealing with the succession process can be a challenging undertaking. Fortunately, you do not have to take on this process alone. When you consult with an experienced Louisiana estate lawyer, these legal professionals can make sure that the process goes smoothly, that debts are paid, and property passes according to the laws of the state. In addition, these skilled attorneys can also:
- Ensure that Louisiana laws are followed.
- Help get an administrator or executor appointed.
- Make sure the right succession is opened.
- Help ensure that titles are transferred properly.
- Get a Judgment of Possession so that heirs can inherit property.
- Help save you and your loved ones time, money, and a significant amount of stress by handling the succession process for you.
- Provide you with the legal support you need during this challenging time.
Contact Losavio & DeJean, LLC Today
For further information regarding Louisiana’s succession laws, or if you have other questions regarding the process, contact Losavio & DeJean, LLC today to schedule a consultation with our experienced legal team and get the answers and information you need.