Does someone ever own "too little" or "too much" to justify putting the family through a Louisiana Succession?
Two key points about a "minimum" amount to justify a Succession. The first point will be explained with an example. Let's say Dad died and the only asset remaining in his name is a bank account with $400.00. The account is frozen and the banker needs the Succession court order to release the funds. The family quickly finds out that the Succession court costs and attorney fees alone will cost several thousand dollars to complete. It would not make sense for the family to undertake the Succession just to get access to a $400 bank account.
A second point about a minimum amount required to complete a Succession involves the Louisiana Small Succession Affidavit procedure. Again, I'll use an example: If Dad dies WITHOUT a last will and testament, and his assets do not exceed $125,000 in value, then the heirs can skip the full-blown judicial Succession proceeding and gain title or access to assets by completing the new Affidavit procedure.
As far as a maximum goes, there is no getting out of a Succession for a large estate. In fact, the largest estates will have to deal with the IRS through the federal estate tax return. But a federal estate tax return must be filed only when the deceased's total assets exceed $11.2 million (for deaths in 2018). So, the wealthy must deal with the Succession, and they also must comply with the federal estate tax guidelines, and in some cases, pay federal estate tax to the IRS.