“Probate” is known as the transfer of a deceased persons estate to his/her rightful heirs. An “estate” is defined as the property, rights, and obligations that a person leaves after death. Each estate is unique – some include more assets while others include more debts and liabilities. Either way, the probate process is important and should be completed to properly transfer ownership.
When it comes to probate law, many people anticipate lots of court involvement. While some cases do require numerous court filings and appearances, others do not. In fact, an affidavit of small succession is a simple filing that resolves the probate process without judicially opening a succession in a local court.
What fits into the “small succession” realm?
There are three instances in which a small succession is appropriate: (1) when a person dies while living in Louisiana, leaving property with a gross value of $125,000 or less; (2) when a person dies while living outside of Louisiana, but who owned property in Louisiana with a gross value of $125,000 or less; or (3) when a persons date of death occurred at least 20 years prior to the execution of the affidavit of small succession and who left property in Louisiana of any value. Therefore, an estate planning attorney will need to know the following:
- The person’s date of death;
- Where the person was domiciled at the time of death; and
- Whether the person left property located in Louisiana.
Once the date of death and all property is identified, the attorney will calculate the property’s worth. The gross value is determined at the time of death. So, if the person died in 2022, the property would assessed based on its 2022 value. If you are dealing with a deceased person who died in or outside of Louisiana and owned property worth $125,000 or less, or a deceased person who died over 20 years ago, regardless of their property’s value, you have entered the “small succession” realm.
When is an affidavit of small succession proper?
If one of the three above-listed instances applies, the filing of an affidavit of small succession is proper when the person died: (1) without a will while living in Louisiana; (2) with a will while living in Louisiana, but left no immovable property in Louisiana; or (3) without a will while living outside of Louisiana or whose will was probated by a court order of another state.
Who must sign the affidavit of small succession?
At least two people must sign the affidavit. If there is a surviving spouse, he/she is required to sign. Nevertheless, the adult heirs of the deceased must also sign. If there is no surviving spouse, the signatures of two adult heirs are sufficient. If there is only one adult heir, the second signature may be by an adult who has actual knowledge of the matters stated in the affidavit.
How do I get started?
If you are faced with the probate process and believe that you qualify for an affidavit of small succession, retain a probate attorney.
