Succession & Probate

Succession and probate refer to the legal process of transferring a deceased person's assets to their heirs or beneficiaries. The process varies depending on whether the person had a will (testate succession) or died without one (intestate succession).

 

What is Probate?

Probate is the court-supervised process of validating a will, settling debts, and distributing assets according to the deceased's wishes (or state law if there is no will). It involves:

1. Filing the Will (if applicable) – The executor submits the will to the court.

2. Notifying Creditors & Heirs – Public notice is given, and debts are settled.

3. Inventorying Assets – A list of all estate assets is compiled and valued.

4. Paying Debts & Taxes – Outstanding debts, funeral costs, and taxes are paid.

5. Distributing Assets – The remaining estate is distributed to heirs or beneficiaries.

 

What is Succession?

Succession is the broader legal process of transferring property ownership after death. For example, in Louisiana, "succession" is often used instead of "probate." It follows two main types:

-Testate Succession – If a valid will exists, assets are distributed as stated.

-Intestate Succession – If no will exists, state law determines who inherits the estate (e.g., spouse, children, parents).

 

Why is Succession/Probate Important?

-Ensures legal transfer of property and assets.

-Protects heirs by confirming rightful ownership.

-Clears debts and taxes before distributing assets.

-Prevents disputes over inheritance.

 

Proper estate planning, such as creating a will or trust, can help avoid lengthy probate proceedings and make the succession process smoother for loved ones.