What Does Succession Mean In Louisiana?
Succession is a relatively simple term by Louisiana law, though it can mean a variety of things to your family. Succession is the process in which your property is transferred from one generation to another, but what that means to your family is primarily determined by whether or not a loved one has a valid will in place at the time of their death.
A person who dies with a valid will in place names an executor and beneficiaries of their estate — that is, the person(s) who will manage its succession and the people who will receive it. If a person dies without a will, their estate is distributed by state law. When anticipating succession, you need to consider special circumstances for both the person passing on assets and the people who will receive it.
As an estate planning attorney with 40 years of experience, I center my practice at Walter D. White, A Professional Law Corporation, on securing the financial and emotional future of hardworking families in Shreveport like yours. I believe that estate planning is essential to the interests of “common man” families like yours because you have worked hard to provide for your family, and I want to help you follow through on that labor.
Where Concerns For The Future Meet Action Today
My experience has given me the foresight to accommodate the unique circumstances in your family when writing wills and anticipating succession. These circumstances to consider include:
- What portion of your estate is shared property vs. community property
- What debts you owe
- How many forced heirs you have and what they can receive
- Leaving an estate to a spouse vs. heirs
- When to update a will
Managing Your Assets Through Succession And Wills
When you meet with me, I will help you understand succession planning as it applies to your family and your assets. Talk to me today about your family’s needs. Call 318-716-7275, or send a secure email to get in touch with a lawyer today.