When someone close to you dies, they may choose to include you as a beneficiary to receive some of their property. If the person who dies is a member of your immediate family, you may even have inheritance rights if they die without a will.
Unfortunately, there is often a significant gap between when someone dies and when the beneficiaries of their estate receive their property. Perhaps you will inherit your mother’s investment account and want to use those resources to pay off your mortgage. Maybe you will inherit your parents’ home, and you would like to sell your current residence to move there permanently.
How long will it take for you to collect the property from the estate during the succession process in Louisiana?
Succession proceedings can take half a year or longer
Even the simplest succession case in Louisiana may require court oversight when there are valuable assets or real estate involved. Those who die without testamentary documents and estates embroiled in conflict also typically require hearings in succession court. The process can take anywhere from six months to more than a year depending on the assets involved and the kind of documentation or estate plan someone uses to arrange for the distribution of their property.
The one exception may be when assets are in a trust. Trust assets typically do not require succession court oversight and can therefore transfer very quickly after someone’s death. Otherwise, the more valuable the asset is, the more likely you will need to wait until the end of succession court to fully assume control over that property.
Protecting your interests means knowing your rights
Mistakes by the executor or personal representative of the estate could lead to a loss of your inheritance or a reduction in the value of the property that you should receive. The longer you believe you may need to wait to access your inheritance, the more important it becomes to know your rights and to remain informed about the succession proceedings. In some cases, you may need to initiate litigation to challenge certain decisions or replace the person managing the succession process.
Learning more about Louisiana succession laws can help you protect your inheritance and your rights.