What is a Succession?
A “succession” is a legal process for wrapping up the financial affairs of a deceased person (decedent). Generally, the process involves identifying and gathering the assets of the decedent, paying the debts of the decedent, and then distributing the decedent’s assets to his or her beneficiaries.
The succession/probate process is used to pass ownership of the decedent’s assets to his or her beneficiaries. If the decedent left a valid Last Will and Testament, it will need to be presented to a court to be probated so that the persons named as beneficiaries can legally obtain ownership of the property which was left to them. If the decedent had no will, Louisiana law provides default rules as to who inherits from the decedent and who ownership will be passed to in connection with the succession.