Succession Terms

Succession Terms
Evelyn Greenwoo…:
Did your loved one pass away and now you’re being bombarded with paperwork, legal speak and overwhelm? First of all, I’m very sorry for your loss. This can be a very difficult and emotional time for you and now you’re left to sort everything out. Hi, my name is Evelyn Greenwood and I’ve been selling real estate for over seven years. We have found that this type of transaction can be one of the most emotional ones to navigate. Here are some terms that you need to know and will hear throughout the process. Succession, otherwise known as probate in other states, is the process of filing documents with the court so that assets can be transferred from someone who has passed away to their heirs. In Louisiana, almost every estate, no matter how small will have to go through succession even if there is a valid Last Will and Testament. If there is a will, someone will be named the executor. This means you are the person designated to administer the estate and ensure that the deceased person’s wishes are performed. The estate attorney handling the succession will inform you of your duties as executor.

Other succession terms are intestate versus testate. Testate means someone passed away and left a will. Intestate means that they died without a will. So what does estate mean? Estate is the total possessions or assets, including money, jewelry, stocks, and land.

The inventory and appraisal is a list of all assets in the estate. The term property includes, but is not limited to the following: vehicles, houses, land, bank accounts, stocks, pension plans, wages, incomes, and other things of value. These are just a few of the many terms you’re going to see regularly. For more information or any questions, please contact me or an estate attorney in Baton Rouge. I encourage you to seek the advice of a lawyer or an attorney since I’m not one, but I’m just giving you helpful information to help you navigate this along the way. I’m Evelyn Greenwood with Fathom Realty and remember everyone deserves a happy home.
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