The purpose of a will or trust is to help the family of a decedent collect their intended inheritances with as little complication or delays as possible. If a person passes away without first creating a full estate plan, what will happen to their assets and property then?
In Louisiana, a process known as intestate succession begins. Put into straightforward terms, succession is the government- or state-run procedure of distributing a decedent’s unclaimed property to individuals based solely on their relation to that decedent. The majority of succession cases prioritize children and spouses before parents, siblings, and other relatives. If this does not seem like an ideal situation for your estate, it might be time to contact a succession attorney.
Why You Should Work with a Lawyer
It is true that you can try to get through succession without an attorney, but it is also true that you can try to cook a Three Michelin Star meal out of a microwave. In both situations, it is theoretically possible, but why would you want to attempt it when allowing a professional to help you guarantees better results?
An estate planning lawyer can analyze the specifics of the decedent’s estate and any incomplete wills to try to find the most appropriate solution in accordance to what was likely their wishes. Your lawyer will also be able to educate you in terms of estate planning laws in your state. If the succession process seems to overlook someone who should be a priority of inheritance, you will be able to recognize the mistake and bring it to the attention of the court.
If you live in Louisiana, you can rely on me, Baton Rouge Estate Planning Attorney Wendra Moran, for your questions, concerns, and legalities regarding succession. I have experience managing both intestate succession and business succession planning, which involves choosing a successor to control your business after you pass away. Call toll-free 225.228.4445 today for more information.