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Protecting Your Most Valuable Asset - Your Loved Ones Baton Rouge Estate Planning Law Firm

Succession

Baton Rouge Estate Planning Lawyer

It is crucial to create a last will and testament, whether you are entering the golden years of your life, have come into a sum of money, or have a family that depends on you. Failing to create a viable estate plan through the use of a will or a trust will trigger a process of mandatory, state-regulated property distribution known as intestate succession. Due to the impersonality of the government, it is highly unlikely that succession will yield the results you desire and loved ones could be left struggling to make ends meet due to a lack of intended inheritance.

Rather than wondering what to do about your estate plan and how to avoid intestate succession, you should let a Baton Rouge estate planning attorney from the Law Office of Wendra J. Moran help you. My law firm has built a reputation throughout Baton Rouge for providing compassionate and professional legal guidance that steers clear of unnecessary complications and delays. Call me today at (225) 228-4445 to learn more about what I can do for your estate plan.

Who Inherits What Through Succession

Intestate succession will subject your loved ones to a complicated legal procedure when you pass away. The state of Louisiana has numerous guidelines and regulations to determine who will inherit what. It does not generally concern itself with why someone would inherit an asset, other than their relation to the decedent.

Inheritance priority in most cases of succession is:

  • Children
  • Spouse
  • Parents
  • Siblings

While this priority chain might seem simple, it becomes quite complex if you pass away and had any combination of surviving children, parents, siblings, and a spouse. Oftentimes the state will split community property and separate property unevenly based on what it believes a family member’s right to the property would be, based on a legal concept called usufruct. In the event that you pass away and have no recognizable family members, the state will actually assume control of all your property in a succession process called “escheat” inheritance or control.

Utilizing Business Succession Plans

Succession does not only occur due to someone passing away intestate or without a will. You can create a business succession plan as part of your estate plan to determine who will inherit control of your company. Since your business is not technically a tangible item, this process is typically separate or more complicated than other forms of asset distribution. It is recommended you discuss business succession and what would benefit your loved ones the most with a trusted attorney.

Plan for the Future with My Help Today

Whether you have questions about how to prevent intestate succession or about planned business succession, you can count on me to provide the professional guidance and counsel you need. I custom-tailor every solution to each case I take based on the client’s individual needs, so you never will worry about being handed a pre-manufactured resolution.

Contact me today to speak with a Baton Rouge estate planning lawyer.

Why to Choose Wendra J. Moran

  1. 10 Years of Legal Experience
  2. Flat-Fees - No Surprises
  3. Personal Attention & Insightful Legal Advice
  4. Strong Guidance Throughout Estate Planning & Probate
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