The state of Louisiana has succession laws that govern how assets are distributed following a death and how the deceased’s debts are settled. In other states, this process is referred to as “probate.” A succession attorney in Baton Rouge LA can help his or her clients resolve disputes and ensure that everything goes smoothly following the death of a loved one. Read on to find out what Louisiana residents need to know about succession laws and get prepared for the initial consultation.
Types of Succession
There are two types of successions, known as testate successions and intestate successions. In testate successions, the deceased party’s will has been submitted to the court and an estate executor has been appointed prior to their deaths. The executor acts on behalf of the estate, paying off debts and distributing assets to heirs as stated in the will.
Intestate successions occur when the decedent didn’t draw up a legal will. In these cases, the state determines who the heirs will be and appoints an executor to administer the estate. A succession attorney in Baton Rouge LA can help estate executors deal with both forms of succession.
Who Completes Successions in Louisiana?
Any Louisiana family whose deceased loved one owned assets must complete a succession. Many people assume that drawing up a last will and testament will prevent the need for succession, but this is not the case. Having a will just changes the terms of the succession from intestate to testate.
Before visiting a succession attorney, the estate executor should gather a few essential facts and documents. They should create a list of the names and contact information of all parties involved in the succession, including both heirs and creditors in addition to a complete listing of the deceased’s assets and debts. Gather documents like bank statements, brokerage account statements, vehicle titles, and real estate legal descriptions and don’t forget to bring a copy of the deceased’s will if he or she took the time to draw one up.
Not all attorneys practice succession law, so find a law office that has plenty of experience with wills and succession. Not sure how to get started? contact us to schedule a consultation today.