Who Pays Debts in a Louisiana Succession?

– Your Questions Answered by an Experienced Succession Attorney

When a family member dies, questions often arise. Did they have a will? Who are the heirs? Who gets the family china set? Who gets the house? One of the most important questions is this: who pays for the debts that the loved one was unable to clear before passing? It’s only a lucky few people that die and leave no obligations. Most will pass away still owing some debt, and sadly, some others may not even have enough money to pay for funeral expenses. Facing these kinds of concerns can be frustrating when you are trying to grieve. An experienced succession attorney in Louisiana can ensure you have your questions answered.

The Basics of Succession Debts in Louisiana

If your loved one has died, understanding the basics of succession debts can arm you with what you need to make wise decisions. Working with an established succession attorney is your next best step as you navigate through the following:

• What are succession debts? Succession debts are defined by Article 1415 of the Louisiana Civil Code. They are broken down into categories:
  • Decedent’s debts: The deceased person’s debts before passing away are included in this category. Additional financial obligations incurred because of the death also fall into this area. Some examples include mortgages, car loans, credit card debt, medical bills, and funeral and burial costs. There are also community property debts that belong to the estate. For example, if Dad dies with a mortgage on a property held with Mom, 50% of the mortgage is considered succession debt.
  • Administration expenses: Any fees owed to the executor or administrator of the estate are part of administration expenses. These include succession filing fees, succession attorney’s fees, and other costs related to handling the decedent’s estate.
• Who pays the debts in an estate: According to Louisiana’s Civil Code, two types of successors are recognized:
  • Universal successors have all the rights and obligations of the decedent regarding the property they receive. They can be heirs or legatees who inherit through the estate, and they are responsible for the debts related to that succession property.
  • Particular successors only have rights to the specific property left to them. They take ownership and possession of the property and are not liable for succession debts.
• How to protect your inheritance rights: No one wants to be worse off financially when they inherit property from a deceased loved one. Luckily, Louisiana’s Civil Code does make allowances for this. To protect your inheritance rights, work with a Louisiana succession attorney who understands the nuances of the law.

A Succession Attorney Helps You in Your Time of Need

You deserve a lawyer who knows the Civil Code and has experience in estate planning and succession. David L. White has decades of experience ensuring you get the answers you need and the representation you deserve. Look to him for estate planning, criminal defense, family law, personal injury, commercial litigation, and interdiction assistance. Schedule a free phone consultation with David and his team today to learn more.

Contact an experienced succession attorney in Louisiana who can handle all your legal needs. Give us a call at 318-747-7023.