What Accountings are Required by Louisiana Independent Executor?

If either the Last Will authorizes it, or if all heirs agree, an executor named in a Louisiana Will can be what is known as a "independent executor."

An independent executor can take many necessary actions without the necessity of seeking and obtaining court approval.  So what does the Louisiana law say about an independent executor being accountable to the heirs?

In successions where all of the heirs are in agreement on how the estate should be settled, the heirs will often sign documents waiving the final accounting. However, if at least one of the heirs does not waive a final accounting, then the independent executor must file a final account with the court.

So what is a final account? A final account is a succession document prepapred by either the independent executor, his attorney, or his accountant, which shows the money or other property received by and in the possession of the independent executor at the time the independent executor took office, the revenue, other receipts, disbursements, and disposition of property during the period, and the remainder in the possession of the independent executor at the end of the accounting period.

Preparing an accurage accounting can be exhaustive work. It's much easier to have all of the heirs waive this accounting. But if at least one heir requests this accounting, it has to be done and filed with the court. The independent executor cannot be discharged until all of the heirs waive the accounting or the accounting is filed with the court.

If you are an executor or an administrator of a Louisiana succession, and you want to make sure you comply with your obligations as the succession representative, and maybe even more importantly, avoid personal liability for acting inappropriately, feel free to send me an email at paul@rabalaislaw.com or give my office a call at 225-329-2450. Put in the subject line of your email, "EXECUTOR NEEDS HELP," and I'll give it my undivided attention.

Paul Rabalais

Comments

[Tammy]

If all the heirs did not waive the final accounting because the ind. executor did not know where some of them were located (only having a last known address), will it suffice to send a copy of the final accounting to the last known address of the heir(s) whose whereabouts are unknown, via certified mail, and file the returned certified attempt with the court to show that you tried?

[Air Jordan Shoes]

*Fearlessness stems from selflessness.

[supra shoes]

Anything is possible, not only the best better.

[Ganhar Dinheiro na Internet]

Bonito blog, embora nao concordo com algumas coisas que escreveste embora no geral até tens razão!

[Poker Gratis]

Olá muito bem estruturado blogue , amei mesmo muito, acho que poderiamos fcar blog palls :) lol!
Aparte de piadas chamo-me Humberto, e como tu escrevo na internet se bem que o foco da minha página é bastante diferente de este....
Eu escrevo websites de poker que falam de dinheiro gratis para jogar poker online sem arriscares o teu capital......
Gostei imenso o que li aqui novamente
Virei aqui mais vezes
Ps:desculpa o meu portugues

[Ferramentas de Poker Grátis]

Boa tarde:), chamo-me Carla estudo Ergonomia e gostei imenso do teu blogue! Muito linda sim senhora!
Concordo imenso tudo aquilo que aqui li.Hoje por vezes tanto que expressar nos blogues!Nada nada mais gostoso do que implementar a nossa marca na net!
Bye Bye :)

[Bohemia]

Thank goodness some bloggers can write. Thanks for this piece..