Donaldsonville Successions Lawyer

Donaldsonville Successions Attorney

Donaldsonville and Ascension Parish have seen their fair share of growth in the past several decades. With new projects like the Hyundai Steel Mill coming to the region, the area is a great place to set a future for your loved ones. For those wishing to give what they have worked hard for to their descendants, work with a Donaldsonville successions lawyer.

Experienced Successions Lawyers in Donaldsonville

Goode Tax and Estate Planning Law Group, LLC, has been around for decades. During this timeframe, we have seen many different kinds of estates with varying needs. Our estate planning experience can help make sure these assets are distributed to the right people and with as few tax obligations as possible. The small size of our firm can help you accomplish your goals on a personal level.

What Is Succession?

Succession in Louisiana is the same term used for probate in other states. This term refers to the process an estate goes through after the owner dies. The process ensures that debts are paid and that any property owned by the deceased is distributed to others.

Two Types

There are two main types of successions: testate and intestate. Testate successions involve a legally valid will created by the deceased before they died. This has additional rules on who gets what assets.

Intestate succession is legally determined by the state. This is because the individual died without a will, leaving no instructions for dividing the estate. Unfortunately, this also means that the family has little say on how their assets are distributed.

There is usually someone in charge of the estate while the process is going on. This person is called an administrator if there is no will. Executors serve the same function, but this title is reserved for people who died with a will. Sometimes executors are explicitly named in the will; if not, they are appointed by the court.

Why Hire a Successions Lawyer?

Many people are surprised at the amount of work it takes to open and close a succession. An attorney can take on some of this workload to make it easier for the family. They can do things like:

• Filing initial petition. To start the process, the family has to submit a petition to open the succession along with proof that the person died, usually a death certificate. This has to be filed with the Judicial District Court where the person lived. An attorney can compile all the necessary documents and file them on your behalf.
• Asset list. It can be difficult to determine exactly what the deceased owned at the time of their death. Even statements made in the will can be outdated and inaccurate. An attorney can assist with this list to ensure it is up to date and includes any debts the individual owes.
• Conflict resolution. In some cases, creditors or beneficiaries may have concerns about how the estate is handled. An attorney can work with these people to resolve their conflicts and ensure the estate is processed smoothly.
• Asset management. Before distribution can begin, assets have to be valued. Many of them also have to be sold. Attorneys are connected with professional appraisers to evaluate the value of certain assets and facilitate the selling process. The faster assets are sold, the quicker the estate can be closed.
• Completing the process. For the succession to be officially concluded, a release must be requested from the court. This also includes the discharge of the executor or administrator, so that they are no longer responsible for the estate. This is an essential document that an attorney can help request.

26% of Ascension Parish residents are under 18. An effective succession process can help provide assets for these loved ones for their future success.

Why Choose Us?

We know that people often have many questions about probate. At Goode Tax and Estate Planning Law Group, LLC, we take the time to listen to your concerns and develop a detailed plan to keep the succession process moving forward. Our credentials help us develop strategies that are legally sound and financially savvy.

FAQs

What Is Considered a Small Succession in Louisiana?

What is considered a small succession in Louisiana is an estate valued at less than $125,000. This affidavit can now be used regardless of whether the individual died with a will or without a will. If this affidavit is successfully filed, the succession process can be reduced to reflect the small amount of assets being distributed.

Is It Possible to Avoid a Succession in Louisiana?

It is sometimes possible to avoid a succession in Louisiana. It depends on the type of assets you have. If you own real estate, it is unlikely that you can skip succession. However, placing certain assets in a trust in advance can help them avoid probate. This can shorten the probate process overall.

What Happens in a Succession Where the Person Has Debts When They Die?

If the person has debts when they die, these need to be paid out before any money within the estate is given to beneficiaries. This does not apply to certain debts, including mortgages. If the person had a mortgage when they died, that mortgage can be passed on to the recipient of the house.

What Is an Executor in a Succession?

An executor in a succession is the person who is in charge of dividing out the assets and closing the estate after everyone is paid out. They are only called the executor in a testate succession, which means the person died with a will. If they died without a will, it is considered intestate succession and is managed by an administrator.

Put Our Experience to Work

13% of Ascension Parish residents are 65 and over. These people tend to think about who will help carry on their legacy. To receive a detailed strategy on how you can do this, schedule a consultation with Goode Tax and Estate Planning Law Group, LLC, today.