Successions

Succession is the Louisiana term and process by which an estate is opened and administered after a person expires. This process is also known as “probate” in other states. If the deceased dies with a will, it is probated for transfer of ownership of the assets as designated in the will. If the decedent dies with no will, a succession is still opened to transfer the assets according to the rights of intestacy established in the Louisiana Civil Code.

There are many ways to complete successions, but Chelsea strives to use the most time effective and cost-efficient manners to have assets transferred to the Deceased’s heirs and legatees. For example, in specific circumstances, Chelsea utilizes the procedures of a small succession to accomplish the transfer of assets.

In very few instances a succession is not required. Some types of property are not included in the succession of an estate. For example, retirement accounts such as 401(k)s, 403(b)s, and IRAs, as well as life insurance policies, have named beneficiaries. The proceeds of such accounts pass to the beneficiaries outside of the succession proceedings.