Succession Attorneys in Baton Rouge
We Can Help You Navigate Succession Proceedings
Succession is the court-supervised process of transferring a deceased person’s assets to their heirs and beneficiaries. If you need help with succession proceedings in Baton Rouge, Losavio & DeJean, LLC, The Louisiana Elder Law Firm is here to help. Our estate planning attorneys know how to overcome the challenges that tend to arise during these proceedings. We are dedicated to helping you navigate them with ease.
Types of Succession Proceedings
There are various types of succession proceedings that are utilized depending on:
- The value of the estate
- Whether the succession is contested
- The complexity of the estate
- Individual issues and roadblocks
Small Succession Affidavits
If the person who died did not leave a will and the net value of that estate is less than $7125,000, a succession may be able to be completed by executing and recording a small succession affidavit. Generally, this small succession affidavit procedure is low cost and faster if the assets and debts are easily determinable.
Direct Acquisition of Assets
If the person who died left a will or the net value of the estate is more than $125,000, heirs or legatees may be able to acquire assets directly without appointing an executor or administrator. The matter must be uncontested, assets and debts must be easily determined, and there must not be any preservation issues, immediate problems, business concerns, or litigation pending. Although this process is generally more expensive than a small succession affidavit, it is also generally less expensive than an administration.
Appointing an Executor or Administrator
If there are contested matters, if assets and debts are not easily determined, or if there are other issues, it may be necessary to appoint an executor (if named in a will) or an administrator to preserve assets, pay debts, maintain property, manage a business, determine assets and debts, litigate claims, and liquidate assets to pay debts. Generally, this is more expensive than other types of succession. However, the expenses may be reduced if the decedent named an independent executor in a will or if all the heirs approve the appointment of an independent administrator.
Retain the Legal Representation You Need
Every case has its own unique facts concerning assets, debts, problems, and contested matters. You will need to consult with an attorney who understands the complexities of successions and who can determine what succession procedure is right for you.
At Losavio & DeJean, LLC, our Baton Rouge succession attorneys are ready to help you navigate this tough process. We strive to ensure that every detail of your case is addressed, handled, and resolved appropriately.
Call (800) 835-5864 now to request a complimentary phone consultation.
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