If you are an heir to a parent’s property, it’s important to understand what happens to jewelry after your parent dies. You can avoid a lot of money, frustration, and emotional anguish by making sure that valuable personal assets, such as jewelry, are handled correctly during a Louisiana succession.
What Happens to Jewelry Depends on the Type of Succession
Different kinds of Louisiana successions have different rules about what happens to estate property.
In a simple possession succession, heirs do not need court approval to take possession of estate property. Instead, the estate will file court pleadings indicating who died, identifying all of the decedent’s assets, and naming the heirs who inherit the assets. The court will issue a Judgment of Possession that makes the heirs the new owners of their inheritance. In this scenario, court approval is unnecessary before an heir takes possession of a parent’s jewelry. However, it is often advisable to hold onto the jewelry and not to sell it before all debts of the estate are settled and a Judgment of Possession is issued.
Simple possession successions don’t work in every situation. Sometimes, a succession by administration is necessary. An executor or administrator must identify the estate debts and assets, pay the debts, and distribute assets to estate heirs according to the specific terms of the decedent’s will or the laws of intestacy. After that, the executor or administrator must seek the court’s permission to pay debts and distribute assets. Accordingly, jewelry stays in the estate’s possession until the executor or administrator has court permission to distribute it to an heir.
Talk to a Succession Lawyer About Your Options
You may have a specific piece of jewelry you are concerned about or you may want to make sure that all of your parent’s possessions are distributed fairly. Either way, we encourage you to contact our experienced Louisiana succession lawyers to make sure that everything is distributed efficiently and according to Louisiana law. That way, you can avoid future problems and protect your parent’s wishes and your inheritance.