I was contacted recently by the son of a set of parents who died while living in Alexandria, Louisiana. The son told me that his mother died 12 years ago, and his father died four months ago. The parents owned three homes and they also had a bank account. Unfortunately, after the father recently died, another son passed away (without a last will and testament) just a few weeks after the father died. The surviving son was worried about completing the necessary Louisiana Successions, particularly how the deceased son's three children might be affected.
We determined that neither parent had ever signed a last will and testament. So, we created the following plan to get both Estates/Probates/Successions handled without a bureaucratic nightmare. Here is the plan we developed:
- Son Appointed Independent Administrator. First, we will prepare the necessary Agreements and court pleadings so that the surviving son can be appointed by the appropriate judge as the Independent Administrator of both the Succession of Mom and the Succession of Dad. The court will issue documents called, "Letters of Independent Administration."
- Establish Estate Accounts. Once appointed by the court as the Independent Administrator, the surviving son can establish Estate Accounts in the name of each Succession, at the bank of son's choosing. He will then have the authority to move the money from his parents' account into the estate accounts.
- Sell the Homes. As Independent Administrator, Son will be able to sell the three homes that were owned by his parents. The proceeds of the sale of these homes will be placed in the estate accounts.
- Pay Estate Expenses. Son will use these estate funds to pay necessary estate expenses.
- Judgment of Possession. Once the final accountings, detailed descriptive lists of assets and debts, and other court pleadings are prepared and filed with the court, and once the judge's office is satisfied that all court documents are in order, the judge will sign a "Judgment of Possession" which orders third parties to transfer estate assets to the heirs. In this case, the surviving son will inherit one-half of the remaining estate assets, and the deceased son's three children will inherit the other one-half of the assets.
The son wanted to work with an attorney that knew exactly what he was doing, because the son knew that one wrong move could delay the Succession for months or years, causing additional costs, and perhaps even ruining family relationships. He said he wanted to make sure that everything was done "by the book" so that no one could complain about his actions as the court-appointed Independent Administrator.
The son was also pleased that we would be able to complete these Successions without court appearances and without unnecessary travel by our attorneys or by the heirs.
If you have had a family member pass away, and you have other family members who all have good relationships and you want to make sure they stay that way by completing the Louisiana Succession in the most efficient manner possible, you may want to give our office a call at 866-491-3884 and start a conversation about a plan to complete these matters the right way.