Dealing with the probate process in Louisiana can be unnerving, especially during emotionally challenging times. That is why it is essential for individuals who have lost a loved one to understand the critical steps involved in probate administration as they navigate the distribution of their estate. In the below article, we will provide a basic overview of the probate process in Louisiana, explaining what happens to an individual’s estate after they pass away and how an experienced Louisiana probate attorney can help with the process.
Is Succession and Probate the Same Thing?
In Louisiana, probate, also known as succession, is the legal transfer of property ownership from a decedent to their heirs. However, succession may not always be necessary. For instance, an individual’s estate will usually go through succession in the state if the estate is worth $125,000 or higher, regardless of whether the person passed away with or without a Last Will and Testament (Will).
The Steps In the Succession Process
The steps in the succession process in Louisiana will generally depend on whether a person has a Will. For example, if an individual dies with a valid Will, their things will be transferred according to the wishes contained in their Will. If they pass away without a Will, or if the Will is not valid, this is called intestate succession, and their assets will be distributed according to the intestacy laws of the state. However, in either event, the deceased’s heirs or creditors of the deceased will petition the court to open the succession. If there is a Will, the petitioner will also need to present and prove the validity of the Will.
Additionally, before any assets are distributed to the heirs, the executor or administrator must identify all the decedent’s debts, including credit card bills, medical bills, and other personal liabilities. They must also determine tax obligations and settle all these liabilities first. Only after these tasks are completed will the remaining assets and property be distributed to the heirs, and the succession will be closed.
However, it is important to point out that this is a simplified explanation of the succession process and does not consider special circumstances, problems, or other Louisiana laws that may apply, such as lawsuits that can come up or business interests associated with the estate. That is why if you want further information about the succession process in Louisiana, consider reviewing your specific questions with an experienced Louisiana probate attorney.
Learn More About the Probate Process in Louisiana, Contact Losavio & DeJean Today
The succession process in Louisiana encompasses several crucial steps that require careful navigation to ensure a smooth and efficient distribution of assets. Failing to adhere to these legal requirements or not paying attention to details can have negative consequences for you and your family.
If you want to learn more about the probate/ succession process in Louisiana, contact Losavio & DeJean, LLC, today or call us at 844-779-2551 to set up a consultation with an experienced Louisiana probate attorney.