Small Successions

In the past, many heirs were reluctant to open legal succession in Louisiana due to the fees and costs. There is a perception that opening a succession even for a small one, is expensive.

However, recent Louisiana legislation now makes completing a small succession relatively easy without having to file succession pleadings and incurring expensive fees and costs.

If the decedent died without a will and the net value of the decedents estate is worth less than $ 75,000.00, then this type of small succession may be done by affidavit.

The heirs will be required to follow the statutory requirements as to its execution and form for this affidavit.

This small succession procedure affidavit is not the answer for all small successions. If the heirs are fighting, if there is litigation, or if the assets and debts are not known, it may still be necessary to open a legal succession with the courts.

As always, heirs should consult an experienced succession attorney before taking any action on their own regarding a succession.

 

 

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