When someone in LA passes away, their final affairs must eb dealt with through a process referred to as probate. The assets inside their estate will enter this court supervised process and in Louisiana it is referred to as succession. Throughout this process the court, through the executor, will pass on the deceased party’s property, assets and estate to their heirs. If the individual in question passed away without executing a will, the courts will determine how the estate gets distributed to heirs.
A Louisiana succession attorney can assist you if you have recently been appointed in this role of executor and are unsure of how to handle your duties or if you have questions about the difficulties of the process. An experienced Louisiana succession attorney can help you with thorough legal services that are designed to aid you through every aspect of succession administration. There are many different challenges that can pop up throughout these processes and many of these negative outcomes can be avoided by retaining an attorney early on.
Succession Proceeding Types in Louisiana
The type of succession hearings and steps your estate will need to pass through depends on multiple factors, including whether there is a will, the value of the assets in the estate, individual roadblocks, the nature of the case, and whether or not the succession is contested by any interested party. There are set guidelines in Louisiana about who will get certain property, either based on the distributions outlined in the will or through intestate succession laws that are designed to assist when no will is present. Filing a will contest can be expensive and time consuming, so you want to ensure you know what you’re doing first.
Some of the most common problems that emerge in the Louisiana succession process includes succession disputes, lawsuits, upset family members adding delays by contesting decisions and claims that are raised by creditors. Succession litigation will be used to manage any of the disputes that arise regarding the estate. This is why it is key to act early and retain the services of knowledgeable succession lawyers in Louisiana. The sooner you are in the probate and succession process the easier it will be to get answers to your most common questions and to avoid pitfalls that can expose an executor to personal liability. Succession can be completed relatively easily through a small succession affidavit if the value of the estate is relatively low.
This can be faster if assets and debts are found easily. If the total value of the estate is less than $125,000 you might wish to meet with a probate attorney to discuss this option. Direct acquisition of assets is the process that applies if the estate value is over $125,000. This applies when the person who passed away left a will and heirs can get the assets directly.
Only certain cases will meet these grounds including those in which debts and assets are easily determined, there are no contested matters and there cannot be any business concerns, pending litigation or immediate problems. When you find yourself appointed in the role of carrying out succession for a loved one’s estate, there is too much on the line to leave this to chance.
You need to retain an experienced attorney who can help you prepare from day one to better understand how to approach these issues and what to do if problems do arise, such as a beneficiary who initiates a will contest or other form of dispute. Many well-meaning people who assume that probate will be easy find themselves in over their head and need the services of a lawyer to help them course correct when these problems emerge. If this applies to you, do not hesitate to reach out to get a consultation today.