Successions

Most persons have heard the word probate used in connection with the death of a person. In states, other than the State of Louisiana, probate is the word used to indicate that a decedent's estate is being passed to the heirs of that decedent. In Louisiana, probate means the proving of the will as a valid will, whereas, succesion means the passing of a decedent's assets to his or her heirs, paying the final bills, and ending the decedent's final affairs.

Louisiana Law recognizes two types of successions. The first type is an estate succession where the decedent has left a will. Under this type of succession, the decedent directs how his assets are to pass, how his debts are to be paid, and who the person will be that is in charge of handling the estate matters.

The second type of succession under Louisiana law is the intestate succession. The intestate succession is a succession where the decedent dies without a will. Where the decedent dies without a will, Louisiana law has provided the decedent with an estate plan. In this situation, the government directs how a decedent's assets will pass and who will inherit the decedent's assets. If a peson dies without a will, the succession becomes more combersome as the court directs more of the matters of the decedent's estate in order to ensure that the heirs are properly protected. The additional time spent in court is not only more burdensome to the succession representative that is charged with the duty to handle the estate of the decedent, but it is more expensive as the estate attorney is required to be in court more often.

Successions are required under Louisiana law, except in two very specific circumstances, as the succession provides a method to end the decedent's affairs. Title to property is properly passed to the heirs when a succession is completed and any person wishing to follow the chain of title can determine the owners of a decedent's property. Title is especially important if real estate is sought to be sold or if oil or some other mineral interests are involved.

Survivors of a decedent, especially the spouse of the decedent, are sometimes told to wait until their death to file succession as the children can handle this problem. The problem with waiting to file the succession is that the State of Louisiana imposes an inheritance tax on heirs that recieve a certain amount of assets from a decedent in succession. Louisiana law gives an heir nine months from the date of the death of a decedent plus one six month extension, if properly applied for, to file an inheritance tax return. If the inheritance tax return is not filed within this period of time and if taxes are due, interest begines to run on the amount due until paid. Furthermore, if the decedent has a large enough estate, the Federal Estate Tax return must be filed within nine months of the death of the decedent or interest and penalties will begin to accrue.