Some successions are simple to handle while others are quite complex. What makes a succession simple or complex. Well, it's any number of things but if one factor exists which makes a Louisiana succession easier to complete it is: IF ALL HEIRS ARE IN AGREEMENT ABOUT HOW SUCCESSION MATTERS ARE TO BE RESOLVED, THEN IT IS EASIER TO COMPLETE.
If a parent died and you are sharing an inheritance with a sibling or other relative, I encourage you to communicate with all of the heirs and come to an agreement on how to finalize the succession. You will need an attorney to help you develop a plan to conclude the succession, but if all parties are in agreement on all issues and all parties are represented by the same attorney (perhaps ME!), then it is likely that it will be smooth sailing for the succession.
If, on the other hand, the heirs disagree and have conflicting interests, then each conflicting party must have his or her own attorney, and it often winds up with no one trusting any of the other parties, and everyone thinking that the others are stealing from them or the estate.
I was working with one family today after the surviving parent recently passed away. The parent had six children, all who get along well, and the succession is proceeding at a rapid pace. Estate assets are being sold, estate checking and estate investment accounts are being accumulated, and we'll be finished in no time.
I was working with another family today, and, because there is a distrust among the children, nothing is being done. The family home cannot be sold, people are accusing others of using estate funds, and it's likely that this will continue to go on.
If it all possible, work toward an amicable resolution in a succession as opposed to a judicial resolution. Feel free to let me know if you'd like us to help you work through succession issues you are addressing. Untl next time...
Paul Rabalais
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