An extrajudicial succession is a way to settle an intestate succession without filing pleadings in court. This type of succession may be an option for you if the decedent died:
- Intestate (or without a will or an estate plan)
- Without immovable property (such as real estate)
- With heirs that are all descendants, ascendants, a spouse, siblings, or descendants of siblings
- With an estate value that does not exceed the current limit set by Louisiana law
All four of these conditions must be met to proceed with an extrajudicial succession in Louisiana.
How an Extrajudicial Successions Work
Heirs must still follow specific procedures to settle an intestate estate, even if they pursue an extrajudicial succession. Specifically, heirs must execute an affidavit. The affidavit gives authority to banks or others with an interest in the estate to make payments or receive payments from the property of the decedent. In other words, banks and others may rely on the affidavit to complete the business of the estate. Additionally, the heirs must prepare a Louisiana Inheritance Tax Return and pay any taxes that are due. However, the heirs do not have to file any pleadings in court.
Should You Pursue an Extrajudicial Succession?
Extrajudicial succession may benefit some families but may not always be the right choice for heirs, even if they technically meet the extrajudicial succession requirements.
Louisiana succession law is complicated, and the choices that you make are important, but you don’t have to make them alone. Our experienced Louisiana succession attorneys are here to help you every step of the way. We will review all of your options with you and advise you of any succession options that are cost-effective and efficient. Together, we will help you take care of the business of settling your loved one’s estate. Please call us or complete our online contact form to get started today.