Death is often traumatic for the survivors, and there is a natural disinclination to attend to business in the days and even weeks after a loved one has passed away. While this delay can convey respect and affection, it is often a bad idea from a legal point of view, especially if survivors will be dealing with succession and estate law in Louisiana going forward.
The Essence of Speed of in Succession and Estate Law in Louisiana
If nothing else, anyone with a concern over a succession of an estate should immediately gather documents and other data pertaining to the death. One reason this step is important is the confusion and chaos that a death usually causes can lead to lost documentation, forgotten details, and witnesses or other key figures leaving the area. The more information that can be secured right away, the better.
Beginning the Legal Process
Many people hesitate to initiate the process of succession right away, but this is also a huge mistake. Initiating the process does not necessarily mean you will be interrupting grieving and ceremonies with armies of lawyers. It means you are securing your claims and rights for later pursuit. The best advice for anyone dealing with succession and estate law in Louisiana is to get to work as quickly as possible.
Louisiana does not collect inheritance taxes, and so there are no time constraints on pursuing succession proceedings. However, very large estates can be subject to federal taxes. The definition of “very large” changes from time to time as Congress revises the law, so be certain to consult a tax attorney to be sure of compliance.
The temptation to wait is laudable – but potentially harmful to your interests.
