Louisiana Succession Law Allows Detailed Descriptive List To Be Sealed

There is a new Louisiana Succession law in place for 2017 that allows families to seal the Detailed Descriptive List of Assets and Liabilities, which has always been open for anyone in the public to see.

Until recently, as part of every Louisiana probate, the family was required to hire attorneys to, among other things, prepare a detailed listing of all assets and debts. This is referred to as the "Detailed Descriptive List."

Since all Probate documents are public record, this list of assets was available for anyone to see, including excluded family members, identity thieves, and others.

Now, a participant in the court proceeding can request that the Detailed Desciptive List be sealed in the court record. Even when sealed, a copy must be provided to the surviving spouse and certain heirs. 

While this step can keep family financial information somewhat private, it does not eliminate the cost and the delays already involved in the Louisiana Succession/Probate process.  Many families use trusts to keep family information private, while avoidng the costs and delays of the Louisiana Succession.

Paul Rabalais
866-491-3884