Laws in Louisiana can be quite different from other states. This is particularly true for succession, the term used for the transferring of property and assets after a family member passes away. Here’s what you need to know:
Succession basics
Succession is the only legal way in Louisiana to transfer assets and property after a death, working from the deceased’s will. Even for the most basic succession proceedings, you will need an attorney to prepare the needed legal documents that will be filed with the court, where a judge will approve the details of the succession.
In some instances, a judge’s approval isn’t necessary, and your lawyer can perform all of the work themselves.
For straightforward successions, everything can be done remotely. If you live out of state, you won’t need to travel to Louisiana.
Ancillary succession
If your family member passes away while living outside of Louisiana, but owns immovable property within Louisiana, the process is called ancillary succession, which can also be handled remotely.
Small succession
If a family member passes away with an estate valued at $125,000 or less, the transfer of assets is called “small succession.” A small succession is designed to be fast and inexpensive.
If the family member passes away without a will, but their estate had little or no debt, the family can sign an Affidavit for Small Succession, which eliminates the need for court orders or even an attorney.
However, you would likely need to travel to Louisiana to handle tasks like inventorying the full estate, preparing and signing the affidavit and then later the sale and dispersing of assets.
The Affidavit for Small Succession requires the signatures of two heirs or one heir and the surviving spouse when applicable. A notice must also be sent to all other possible beneficiaries of the estate, who may also be eligible to receive part of the inheritance.
What you should look for in a Louisiana succession attorney
Searching for a good attorney can be daunting; searching for a good attorney in another state even more so. If you are looking for a lawyer in Louisiana to help settle your loved one’s estate, the key is to find a lawyer who knows Louisiana estate law and succession law inside and out. The rules are complex and unlike other states.
Ensuring your lawyer knows what they are doing is peace of mind, particularly if you live out of state.