LOU LEG Small Succession Procedures

On May 21, LOU LEG passed bill on small succession procedures.

  • LOU LEG passed bill SB 32 relating to succession and small succession procedures.
  • Relevant Code
  • Amends LOU LEG 5-3421 (small succession), LOU LEG 5-3422 (court costs); LOU LEG 5-3422.1 (small succession immovable property damaged by disaster or catastrophe).
  • In addition, LOU LEG 2-3431 on small successions; judicial opening unnecessary.
  • LOU LEG 2-3432, LOU LEG 2-3432.1, LOU LEG 2-3432.1 on affidavit for small succession; LOU LEG 2-3434, endorsed copy of affidavit authority for property delivery
  • Also amends LOU LEG 3-3443 on publication of notice of sale; adds new article 3433.
  • Bill Provisions
  • Small successions are succession of a person who died domiciled in Louisiana and who died leaving property with $125,000 gross value or less valued as of date of death.
  • And, ancillary succession of person who died domiciled outside of LOU and who died leaving LOU property with gross value of $125,000 or less valued as of date of death.
  • Succession of person whose date of death occurred at least 20 years prior to execution of a small succession affidavit and who died leaving property in LOU of any value.
  • Court costs shall be 1/2 of court costs in similar proceedings in non-small successions.
  • Not necessary to open judicially small succession of certain persons such as person domiciled in LOU who died intestate, person domiciled outside LOU who died intestate.
  • All of the heirs and legatees of the deceased, including surviving spouse, may execute multiple originals of an affidavit, duly sworn before any officer or person authorized.
  • Legislative History
  • On Mar. 11, 2024, bill delivered to Senate; on Mar. 18, 2024, bill was passed Senate.
  • On Mar. 19, 2024, bill introduced in House; on May 13, 2024, bill was passed in House.
  • On May 15, 2024, bill delivered to governor; on May 21, 2024, bill signed by governor.
  • Effectiveness
  • Bill provisions become effective on Aug. 1, 2024.

Regulators LOU LEG
Entity Types CNSM; Corp
Reference PR, SB32, 5/21/2024; Citation: *LOU LEG* 5-3421, 5-3422, 5-3422.1, 2-3431, 2-3432, 2-3432.1, 2-3434, 3-3443;
Functions Compliance; Financial; Legal
Countries United States of America
Products Corporate
Regions Am
Rule Type Final
Rule Date 5/21/2024
Effective Date 8/1/2024
Rule Id 213279
Linked to N/A
Reg. Last Update 5/21/2024
Report Section US Consumer

Last substantive update on 05/28/2024