Louisiana Small Succession Affidavits Explained:
Usually, the transfer of estate property involves the probate process, which can be a time-consuming and costly endeavor. A small succession affidavit stands as a viable alternative, allowing heirs to avoid the probate process entirely.
A small succession affidavit is a legal document that efficiently transfers estate assets to the rightful heirs outside of the judicial process. While it is certainly a favorable alternative, it is only available in very narrow circumstances.
Which Estates Qualify for Small Successions?
Per La. Code of Civ. Proc. art 3421, an estate can qualify as a small succession if the decedent had property in Louisiana, died without a will, and has less than $125,000 worth of property. Further, if the decedent died more than 20 years ago and no succession has been opened, their heirs can use a small successions affidavit. Finally, if the decedent was a resident of another state and died with a will that was probated in that other state, an ancillary succession in Louisiana can be done by small succession affidavit if the value of the Louisiana property is less than $125,000.
It is important to note that if the estate includes immovable property such as a home, the heirs must wait at least 90 days after the death to record a small succession affidavit. This allows any creditors to make a claim against the estate.
What Information Must the Affidavit Include?
The affidavit must include certain information about the heirs and the estate, including a sworn descriptive list of assets with their values. Once the affidavit is signed and recorded in the conveyance records, the property can be distributed to the heirs according to the law.
Per La. Code of Civ. Proc. art. 3432(A), an affidavit of small succession must include the parish of domicile of the decedent; the date of the death of the decedent; that the decedent died intestate; the decedent’s marital status and where the surviving spouse is living; a list of the heirs and their names, addresses, and relationship to the decedent; a calculation of the percentage each heir is to receive under Louisiana intestate law; a sworn descriptive list of all estate assets with their values, and including whether the assets are immovable or movable and whether they are community or separate; and an acceptance by each heir of the succession.
Who Signs the Affidavit of Small Succession?
Per La. Code of Civ. Proc. art. 3432(B), at least two adults must sign the affidavit. If the decedent has a surviving spouse, the spouse must sign and at least one of the decedent’s heirs. If the decedent was not married, the affidavit must be signed by two adult heirs. If there is only one heir to the decedent, then the heir must sign. If there is only one spouse or heir, the second signature must come from someone who also has knowledge of the facts set forth in the affidavit.
Judicial Administration of Small Estates in Louisiana:
An estate that otherwise qualifies for small succession but that cannot be transferred by a small succession affidavit because of some issue such as a creditor may still be filed in court. However, per La. Code of Civ. Proc art. 3422, the court costs are half of what that of a normal succession.
New Orleans Succession Attorneys:
We are a Gretna law firm that has served the New Orleans area since 1980. Our succession lawyers are experienced at preparing all types of succession documents in Louisiana including small succession affidavits. We can help guide you through the process of recording your affidavit and instruct you on how to process it with financial institutions. We take pride in offering a personal and trusted experience. Call us today for a free consultation and find out why so many of our clients come back to us.
