In times of loss, it is crucial that the wishes of the departed are honored with care and respect. Ideally, when someone passes away, their estate plan should provide clear instructions about who they want to inherit their remaining assets and property, as well as how outstanding debts and liabilities should be addressed. In reality, dealing with the aftermath of a loved one’s death is rarely simple or straightforward, especially if any of their estate has to go through probate—or “succession.”
Without support from a seasoned estate planning attorney who knows all the ins and outs of Louisiana state law, the probate process may drag out longer than it needs to and cause unwanted stress and confusion over who receives what assets. A skilled Houma and Terrebonne Parish probate lawyer at our firm could help you handle this process efficiently while avoiding controversy and conflict along the way.
Is Probate Always Required?
Simply put, “probate” is the legal process by which lawful ownership of property is transferred from a now-deceased person to the designated inheritors based on the decedent’s instructions in their estate plan or the laws of intestate succession. In Louisiana, probate is usually only required for estates valued at $125,000 or more—and not everything a deceased person owned in life will necessarily count towards that figure.
For example, retirement accounts with named beneficiaries are not required to go through probate regardless of their financial value. Similarly, neither are:
- Life insurance policies
- Joint bank accounts
- Assets placed into living or revocable trusts
- Bank accounts with transfer-on-death or payable-on-death designations
A knowledgeable Houma and Terrebonne Parish probate attorney could provide guidance about whether probate is necessary, which specific assets will be subject to it, and what the procedures are for transferring ownership of non-probate property.
Basic Steps in the Probate Process
The probate process begins with the “administrator” or “executor” for the decedent’s estate filing the decedent’s will in court and submitting a petition for probate. Typically, this person is nominated in the decedent’s will to fill that role, but in some cases, the court may appoint someone in the absence of such instructions. They will likely need to submit various other pleadings as well and may be required to post a bond equal to the value of movable assets. The guidance of an experienced probate lawyer in Houma and Terrebonne Parish can be especially vital during these early stages.
Once these initial proceedings are complete, the administrator/executor will be responsible for settling all outstanding debts held by the decedent using estate funds and—if necessary—liquidating estate assets subject to probate. All remaining assets can then be distributed in accordance with the decedent’s will or, in the absence of a will, the laws of intestate succession to the decedent’s heirs.
Contact a Houma and Terrebonne Parish Probate Attorney for Help
The probate process in Louisiana is full of complicating factors and concerns. It is important to have help from dependable legal counsel every step of the way. A dedicated Houma and Terrebonne Parish probate lawyer could play an essential role in ensuring that your loved ones get the property they are expecting to receive and that the process is as streamlined as possible. Call today to schedule a consultation.
