Louisiana law governing wills and succession is a complex mix of statutes, including very old concepts such as the right of usufruct and forced heirship. Without an experienced Louisiana estate planning attorney, it can be next to impossible to ensure that your wishes or those of a loved one are carried out.
A succession is the process, under Louisiana law, of settling one’s estate upon death and distributing property to the heirs after debts are paid (sometimes called probate in other states). Succession can also refer to the estate a person leaves behind at death.
Not all property goes through a succession in Louisiana. Assets that have a named beneficiary (for example, retirement assets, like IRAs and 401(k)s, life insurance policies and annuities) do not have to go through a succession. Instead, they are passed to the named beneficiary, so it is very important to ensure that beneficiary designations on all your accounts are up to date.
