A personal representative in Louisiana, also known as an executor, administrator, or succession representative, is responsible for collecting, preserving, and managing succession property according to state laws. During this succession, the personal representative will be treated as owning all of the property and having the right to enforce all the succession debts.
However, because every state has rules regarding who can act as a personal representative of an estate, the following guide will go over the requirements in Louisiana.
Who Can Act as a Personal Representative in Louisiana?
If the deceased had a Last Will and Testament, and a person was named in the will to act as an executor, they will usually serve as the personal representative, as long as they are:
- Over 18 years old
- Mentally competent
- Not a convicted felon
- A corporation that is authorized to perform the duties required in Louisiana
However, a potential personal representative can be rejected if the Louisiana probate court finds the individual unfit to serve because of their bad moral character. Moreover, if a nonresident is made executor, they must appoint someone who lives in Louisiana to act as a resident agent. This agent will accept all the legal papers on the estate’s behalf.
Louisiana Intestate Laws
If the estate has to be distributed under Louisiana’s intestate laws, the personal representative must also meet the following additional requirements:
- Be a decedent’s surviving spouse, heir, or legatee
- Be a legal representative of a legatee or heir
- Be a creditor decedent or the estate
- Be a co-owner of the real estate
- Be a nominee of the surviving spouse, legatee, heir, or legal representative of an heir or legatee
If more than one individual wants to act as a personal representative of the estate, the court will need to evaluate the different parties who have come forward and decide on the most qualified among them.
Louisiana’s Bond Requirements
A personal representative in Louisiana is also required to post a security bond to ensure their performance of duties. An insurance company will typically give this bond, and the bond amount must be greater than one-fourth of the total value of the estate property. However, the court has the discretion to lower the bond if it can be shown that it is more than what is needed to protect the heirs and creditors.
Generally, a person named in a will as the executor will not be required to post a bond. Neither will a personal representative in an independent administration. However, in either case, a surviving spouse, forced heir, or creditor can require a bond.
Contact Losavio & DeJean Today To Learn More About Personal Representatives in Louisiana
For further information regarding who can be a personal representative in Louisiana, consider discussing the matter with an experienced Louisiana estate planning lawyer who can go over these requirements with you in more detail and clarify who can act as a personal representative.
In addition, when you work with the legal team at Losavio & DeJean, LLC, The Louisiana Elder Law Firm, we can help initiate succession proceedings, figure out the estate’s heirs and creditors, and help defend estates from frivolous challenges while resolving debts that arise.
That is why do not wait any longer to get the help you need. Contact us today to arrange a free case consultation, or call us at 844-431-5334.