What is a Louisiana Succession?
Louisiana law uses the word succession to refer to the probate process. A Louisiana succession is a court process for changing title to assets from a deceased person to his or her heirs or beneficiaries. Like a probate proceeding, a Louisiana succession can be either testate (if the decedent left a will) or intestate (if the decedent did not leave a will).
So if a succession is the same thing as probate, why the different terminology? The difference has to do with the way Louisiana law developed. The law of most states is based on a framework of prior court opinions known as common law. Louisiana took a different path, choosing to use a civil law system that is has its roots in French and Spanish codes. Because of this, Louisiana law uses different terms to refer to various legal concepts. The concepts themselves, though, are not substantially different.
What is the Purpose of a Succession?
Successions are often needed to let third parties (such as financial institutions or buyers) know that the person who claims to possess a deceased person’s property actually does have legal title. The succession is what vests a person’s heirs or legatees with the decedent’s property. As part of the succession, the court will issue a judgment of possession that conclusively vests the appropriate parties with title to the decedent’s assets.
There are many reasons for opening a succession, but the following are perhaps the most common reasons:
- Clearing Title to Real Estate. Louisiana successions are often necessary to clear title to real estate (called immovable property in Louisiana). Without a succession, a potential buyer, lender, or other third party has no assurance of who actually has title to the property.
- Access to Bank Accounts. With few exceptions, a bank will require a succession before it will transfer the account of a deceased accountholder to anyone else. In fact, because of the strict privacy rules governing banks, most banks will want to see court documents before they will even discuss the matter with a person’s heirs.
Is a Louisiana Succession Always Necessary?
Louisiana successions are not always necessary. A lot depends on the assets that a deceased person owned and how they are titled.
Some assets are not part of the Louisiana succession. These assets include annuities and IRAs, insurance policies, and certain retirement plans. These non-probate assets pass automatically to the named beneficiary, without the need for court involvement.
Note: This is so even if the deceased person left a last will and testament that conflicts with the beneficiary designations. The beneficiary designations will trump the last will and testament.
We can help you determine whether a Louisiana succession is necessary in your situation and, if so, let you know how much it will cost.
About Melinda Tucker
