Succession Law Firm Shreveport, LA
If you are grappling with the estate of a loved one who has recently passed away, please connect with our Shreveport, LA succession law firm as soon as you possibly can. Similarly, if you have not yet drafted an estate plan and you need to ensure that your assets will be distributed according to your wishes after your death, schedule a consultation with the reputable team at Theus Law Offices as soon as you are able to do so.
Why is it so important to connect with our Shreveport, LA succession law firm if you are managing the estate of a loved one or if you are seeking to put your personal affairs in order? Louisiana has very specific legal mandates when it comes to a process commonly referred to as “succession.” If you don’t seek legal guidance proactively, you may cause either yourself or your loved ones far more stress than is necessary in the wake of a loss.
Succession Law Firm – Shreveport, LA
“Succession” in Louisiana is – essentially – the same process as “probate.” Although other states refer to this process as probate exclusively, the terms “succession” and “probate” are generally interchangeable in regards to Louisiana state law. Succession is, therefore, the process of legally proving the validity of a will and/or related estate planning documents, distributing the assets of the deceased, and resolving the estate’s debts. In Louisiana, the succession process is generally required in all cases involving estates worth more than $75,000. Some estates qualify for a less formal succession process than is used in most cases. Our firm can clarify whether the unique scenario that you’re facing may be eligible for this less formal, less expensive, and less time-consuming process.
What Else Do I Need to Know About Navigating a Succession Case?
With the exception of estates valued under $75,000, nearly all estates in Louisiana must progress through a formal or informal succession process before an estate can be fully resolved. Property subject to the succession process generally includes any assets not held in a trust and/or passed through a beneficiary designation, such as a payout from a life insurance policy. The “trust loophole” often makes the process of creating a trust more attractive to many Louisiana residents, as placing property in a trust means that one’s loved ones will not need to navigate a succession case if all of the property in question has been transferred via a trust.
Legal Assistance Is Available
If you are either constructing your estate plan or administering the estate of a loved one, please connect with the experienced team at Theus Law Offices to learn more about your rights and options under the law. Navigating a succession case can be stressful and overwhelming. However, our Shreveport, LA succession law firm will do our utmost to ensure that the legal side of your situation progresses in a fashion that is as stress-free as possible; we look forward to speaking with you.