When someone passes away, his or her family must often go through a legal process called succession. In essence, it involves the Louisiana courts transferring the deceased person’s property and money to the individuals, charities, or other parties named in their will. If the person died intestate (without a will), the assets will be distributed according to the rights of succession set forth in Louisiana law.
At the law firm of Damon J. Baldone & Associates, we are available to open succession proceedings and handle all aspects of the estate administration process. Our Houma and Terrebonne Parish estate planning lawyer has 20 years of legal experience and could help you understand your rights during an otherwise confusing and difficult time.
Understanding Succession and Estate Administration in Houma and Terrebonne Parish
Estate planning attorney Damon J. Baldone has the nuanced understanding necessary to help you:
- Transfer property titles and other assets to heirs and beneficiaries
- Access bank accounts
- Deal with funeral expenses, taxes, and debts
- Complete all required legal paperwork or accounting
Our law firm also assists clients with estate planning matters such as wills, trusts, and power of attorney:
- A will allows you to leave specific instructions about how and to whom you want your assets distributed after you pass away.
- A trust can be particularly useful to safeguard significant assets, provide for family members with disabilities and more. Types of trusts include special needs trust, revocable living trusts, spendthrift trusts and others.
- A power of attorney document names the person you want to make decisions for you should become unable to do so.
Succession is the way property is legally transferred from a decedent to the heir(s).
What is an Estate?
An estate contains all the assets and liabilities someone has when they pass away.
What is a Decedent?
The person who has passed away is legally known as the “decedent.”
What is a Probate?
Probate is the process of presenting a Last Will & Testament to a court to be recognized.
Testate vs Intestate
Testate is the type of succession where the decedent has a Last Will & Testament, whereas intestate means the decedent did not have a Last Will & Testament. In an intestate succession, the person that inherits from the decedent is known as an “heir.” In a testate succession, the person that inherits from the decedent is a “legatee.”
An executor is the person approved by the court to handle a testate succession, whereas an administrator is the person approved to handle an intestate succession.
Call a Houma and Terrebonne Parish Estate Planning Attorney Today to Learn More
If you are interested in learning more about the best way to plan and manage an estate, reach out to a Houma and Terrebone Parish estate planning attorney today to get started.