In Louisiana, probate law is called succession law. “Succession” is transmission of the deceased’s estate or rights to his successors.
The estate of the deceased includes the property, rights, and obligations that he had at death. The estate also includes all rights and obligations that have accrued since death.
The complexity of a succession depends on the value and type of property involved, the decedent’s debts, and whether there is conflict among family members.
Often, clients either have never heard of or are unfamiliar with the procedures for opening a succession. They are simply told by the bank or mortgage company that they have to “open a succession” before they can have access to the deceased’s bank account, obtain a home improvement loan, or cash the deceased’s settlement check.
A succession must be opened and completed in order to exercise important legal rights as to the deceased’s property.
- This New Year, Resolve to Review Your Estate Planning Options - January 3, 2022
- New Year Brings Resolutions…. and More - December 31, 2021
- End of Year Planning - December 27, 2021
